Former MTV star Andy Milonakis has found himself on the wrong end of a scam–and not too many in the streaming community will lose tears about it. Known for promoting dubious NFT projects that often turned out to be rug pulls, Milonakis recently got a hefty serving of karma when he was swindled out of $120,000 in a gambling sponsorship deal gone south.
The incident unfolded when Milonakis attempted to cash in on a lucrative sponsorship with BC Game, a popular gambling site. The deal was simple: Andy would promote the site by streaming slots on his channel, and in return, he’d pocket $120k.
An intermediary helped with facilitating the deal between BC Game and Milonakis. However, his cut for the deal ended up being bit bigger than previously agreed. Like a true Crypto Bro, the facilitator made off with the entire $120,000, leaving Andy with a measly $3,500 and a bruised ego. Andy explained the story in his most recent stream on Kick, hoping that his community would share some empathy for his loss.
The streaming community hasn’t overlooked the irony of the situation. Milonakis, who once boasted about pocketing $1.3 million from a failed NFT scheme, now finds himself on the receiving end of a classic bait-and-switch. It’s a plot twist that has many in the streaming community happily proclaiming, “there’s always a bigger fish.”
With legal issues complicating these deals in certain states, the use of middlemen has become increasingly common—and apparently, increasingly risky. But let’s not forget the bigger picture here.
Milonakis’ fall from grace is a great example of how some streamers abuse their communities. As one commenter noted, “So now you just promote gambling, knowing the people who are still loyally watching you are going to end up losing more money than you get paid by the casinos.”
