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 failures that could tarnish his reputation as a philanthropic influencer.

The report shared by online investigator SomaXBT and verified by blockchain experts such as Kasper Vandeloock and others said that MrBeast or his team used over 50 crypto wallets to buy certain crypto tokens, promote them and then sell them at a high profit.

This strategy is often used by many celebrities trying to get involved in crypto and it is called the “Pump and Dump” strategy.

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

SuperVerse, an NFT marketplace formerly known as SuperFarm, is one of the main projects under review. The reports say that MrBeast got one million SUPER tokens in early 2021, which he later sold and made about $7.5 million in just one month. He reportedly earned an additional $11.4 million over the following months.

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

Other tokens also appear in these reports. MrBeast reportedly earned $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 sums of money 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 it means for MrBeast’s role in cryptocurrency.

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