MrBeast Accused of Crypto ‘Pump and Dump’

YouTube sensation MrBeast, born James Donaldson, is under intense scrutiny following allegations of crypto misconduct that could impact his reputation as a philanthropic influencer. According to an investigative report by online researcher SomaXBT, with validation from blockchain experts like Kasper Vandeloock, MrBeast or his team allegedly operated more than 50 crypto wallets to purchase specific tokens, promote them, and then sell them at high profits. This practice, commonly known as a “pump and dump” scheme, is often associated with celebrities venturing into the crypto space.

Earning from cryto of Mr.Beast

The allegations suggest that MrBeast may have profited significantly from this strategy, with SomaXBT estimating his earnings at around $10 million. However, a separate analysis from loock.io indicates he could have made as much as $23 million since 2021. SuperVerse, formerly SuperFarm—a gaming NFT marketplace—is one of the primary projects involved in the claims. Reports allege that MrBeast received one million SUPER tokens in early 2021, selling them later for a $7.5 million profit in about a month. Further, he reportedly amassed an additional $11.4 million through further sales of SUPER tokens over subsequent months.

Additionally, screenshots from a chat appear to show MrBeast discussing a potential $100,000 payment with crypto influencer EllioTrades to promote the SuperVerse project, suggesting a coordinated promotion effort. Alongside SUPER tokens, the investigation names other cryptocurrencies linked to significant earnings. Allegedly, MrBeast made $4.6 million from Eternity Chain (ERN), $1.7 million from PolyChain Monsters (PMON), and $484,000 from SHOPX.

The evidence will find out in the future

The blockchain analysis also suggests that his wallets transferred large sums to major crypto exchanges like Gemini and Binance, which investigators say could potentially connect these actions back to him.

As of now, MrBeast has not addressed the allegations, but the team behind the investigation, including SomaXBT and other blockchain analysts, are encouraging the public to review the evidence and consider the implications for MrBeast’s involvement in cryptocurrency. These revelations, if substantiated, could have serious consequences for MrBeast’s image, especially among fans who see him as a positive, charitable influence.