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The video, which Paul posted yesterday (3 August), was captioned 'a lot of Ls but the last one is a huge W'.
The clip runs through Paul's various victories and defeats, including the eyebrow-raising claim about the 'Montero (Call Me By Your Name)' singer.
It starts with Jake's 'first L', as he writes that he was previously 'fired by Disney'.
Then the YouTuber says that he 'got raided by the FBI', followed by 'jumped by Floyd Mayweather' and 'fake married a sloth'.
Jake also says that 'my brother f***ed my ex', before he 'started dating a boobie model'.
That's when he dropped the 'W' bombshell on everyone.
It read: "Hooked up with Lil Nas X."
The clip has already racked up 3.4 million views, with speculation rife in the comments section.
One user wrote: "Lil Nas X has some explaining to do."
While a second added: "Wait repeat the last one for me."
A third concluded: "@lilnasx been real quiet since this video came out."
There have been no rumours in the press about the pair ever hooking up - it's conceivable Paul could be trolling us all, which he has definitely done before.
Recently, the 24-year old said he was in talks to make the 'money fight' with Conor McGregor.
The star also said that he's confident he will defeat Tyron Woodley, who he's due to face off against on 29 August.
Paul added that he believes the opponent is 'harder' than McGregor.
Speaking to The Heard about the mooted fight with McGregor, Paul said: "I think it will happen. Look, I mean, I'm the money fight for Conor McGregor right now.
"There is no other fighter right now who is on a bigger level than me that is calling out Conor McGregor and wants to fight Conor.
"Our team is in touch with his team and there's talks of it actually happening. And people at first thought I was just joking when I said I wanted to fight him.
"But now it's as real as it gets, it's more real than ever and by the way, if we do fight, I'm going to knock him out."
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