One year removed from what many quickly labeled as another cryptocurrency “scam,” H3H3’s Ethan Klein confronted Impaulsive host Mike Majlak over his involvement with the infamous DinkDoink ‘meme-coin.’
The gaming space has been embroiled in a number of alleged crypto ‘pump and dump’ scandals. Following close behind Kay’s ‘Save The Kids’ scandal that saw him removed from FaZe Clan, both Logan Paul and Mike Majlak were accused of similarly misleading their audience with a questionable crypto known as DinkDoink.
Both members of the Impaulsive podcast promoted the crypto, calling it the “hottest new coin of 2021” and publicly stating they were “all in”.
“We can go to the top of this whole market,” Majlak said in a brief video that soon went viral across social media. Days later news surfaced that Paul himself allegedly helped design the crypto and that “80%” of its value at launch “[was] owned by the top 100 wallets.”
While its value rapidly plummeted, now being worth just $0.000000000017549 per coin, Paul and Logan went silent on the matter. Now 12 months on from the situation, Majlak faced the music when Klein questioned him on his involvement during episode 254 of his H3 Podcast.
After replaying the viral promotional video, Majlak quickly turned the tables. “Let me ask you a question,” he said. “When you watch that video of me, is there any moment of that where you’re like ‘wow, this seems serious’?”
“No,” Klein responded. “You’re obviously being tongue in cheek.”
Explaining how it all came about, Majlak stressed that this video was intended for a small audience, rather than the millions that soon viewed it online.
“I get a call. I’m doing this dumb thing, absolutely no explanation. It’s an idea that talks sh*t about the crypto community. Can you send a video to me that I’m going to post for the 15 devs in this Telegram group chat? Two days later this thing’s viral. Some a**hole is gonna see this and think it’s a real thing now.”
The DinkDoink discussion begins at the 1:28:39 mark below.
As a completely real coin established in the crypto marketplace, DinkDoink lost roughly 90% of its value from June 26 to July 12, 2021.
“I have never in any of my wallets accepted a DinkDoink coin,” Majlak stressed. “I never accepted any kind of payment for DinkDoink. I’ve never been involved in even a semblance of a crypto scam.”
“You didn’t profit from DinkDoink?” Klein put simply. “In zero way, shape, or form,” Majlak replied.
“We don’t scam, I’ve never scammed anyone before. Logan cares deeply about his audience, loves his brand, doesn’t have to scam to make money. Nobody made money on DinkDoink.”
Majlak then went on to reveal he supposedly lost money as a result of the backlash to DinkDoink. One particular sponsor seemingly backed out of a $35K partnership with the influencer shortly after the crypto drama.
Paul is still yet to properly address his involvement with the DinkDoink cryptocurrency.