Mr. Beast Faces Allegations of Crypto ‘Pump and Dump’ Scheme

YouTube star MrBeast, whose real name is James Donaldson, is facing serious allegations of crypto misconduct that could tarnish his reputation as a philanthropic influencer.

The report shared by online investigator SomaXBT and verified by blockchain experts like Kasper Vandeloock and others said MrBeast or his team used over 50 crypto wallets to buy certain crypto tokens, promote them, and then sell them for high profits.

This strategy is often used by many celebrities who try to get involved in crypto, and it’s called the “Pump and dump” strategy.

Source: Loock.io

SomaXBT says he might have earned $10 million from this scheme, but the report from loock.io suggests he could have made up to $23 million since 2021.

SuperVerse, a gaming NFT marketplace previously known as SuperFarm, is one of the main projects under review. The reports say MrBeast was given one million SUPER tokens in early 2021, which he later sold, making around $7.5 million in just a month. He allegedly made an additional $11.4 million over the following months. 

Moreover, screenshots from a chat appear to show MrBeast discussing a $100,000 payment with crypto influencer EllioTrades to promote the project.

Source: Loock . io

Other tokens also appear in these reports. Allegedly, MrBeast made $4.649,337 million from Eternity Chain (ERN), $1.724,652 million from PolyChain Monsters (PMON), and $484,817 from SHOPX. 

His wallets reportedly sent large amounts to major crypto exchanges like Gemini and Binance, showing possible links back to him.

So far, MrBeast has not said anything about these claims. However, SomaXBT and the rest of the investigators are asking people to look at the evidence and think about what this means for MrBeast’s role in cryptocurrency.