YouTuber Jimmy Donaldson, famous as MrBeast, is being accused of making over 10 million dollars by promoting and then dumping low-cap cryptocurrency projects. These allegations come after a detailed investigation.
According to information from the cryptocurrency detective SomaXBT, MrBeast has participated in multiple initial DEX offerings (IDOs) and token promotional programs, profiting significantly from the price increase of the tokens he confirms.
Related projects include SuperFarm (SUPER), Polychain Monsters (PMON), SPLYT (SHOPX), and several other projects. Some tokens have dropped more than 90% in value after MrBeast left, evidence of the "pump & dump" scheme.
Detailed investigation
SomaXBT's investigation has been tracking MrBeast's alleged activities using the wallet data assigned to him on Arkham Intelligence. Detectives have identified several instances where MrBeast invested a relatively small amount in tokens through private transactions, and then made millions of dollars by selling them in public transactions at higher prices.
Source: X
One of the typical cases is the SuperFarm (SUPER) token, a project supported by Elliot Trades. According to SomaXBT, MrBeast invested $100,000 in the project and received 1 million SUPER tokens. After the investment, the token price soared. On March 30, 2021, MrBeast was accused of transferring his SUPER tokens to a secondary wallet and then selling them in a series of transactions, earning a total of 1,900 ETH (about $3.7 million at that time).
Source: X
The detective also revealed that MrBeast received additional SUPER tokens through a transfer contract, and then sold them for $5.5 million, increasing the total project revenue to about $9 million.
The investigation also revealed MrBeast's involvement in Polychain Monsters (PMON). In this case, he is believed to have invested $25,000 and received 25,000 PMON tokens. On March 31, 2021, his wallet transferred these tokens to another wallet for sale, earning 685 ETH (about $1.3 million). The total income from this investment amounted to approximately $1.7 million.
Source: X
In addition, MrBeast is also said to have invested $25,000 in SPLYT (SHOPX), from which he earned $765,000 after selling his allocation.
Source: X
He also earned $1.25 million from STAK token, although detailed information about the transaction has not been fully recorded.
Source: X
For Virtue Poker (VPP), MrBeast is said to have participated in a virtual poker tournament and received 600,000 VPP tokens, of which he sold 200,000 tokens and made a significant profit.
Consequences and Ethics
SomaXBT emphasizes the ethical implications of these trades, arguing that MrBeast's behavior is similar to pump & dump schemes, where influential individuals promote low-market-cap tokens, drive up the price, and sell when it peaks, causing retail investors to suffer losses when the price sharply drops.
The investigation also revealed a significant price decline in many projects after MrBeast was accused of selling off. For example, the SUPER token has now decreased by 75% from its peak level, while tokens like PMON and SHOPX have even suffered larger losses, with some decreasing by more than 90%.
This is not a new phenomenon in the cryptocurrency field, especially this year, when many influential people such as Andrew Tate and Iggy Azalea have also been found to participate in market manipulation activities.
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This YouTuber is accused of making more than 10 million dollars by pump & dump low-cap tokens.
YouTuber Jimmy Donaldson, famous as MrBeast, is being accused of making over 10 million dollars by promoting and then dumping low-cap cryptocurrency projects. These allegations come after a detailed investigation.
According to information from the cryptocurrency detective SomaXBT, MrBeast has participated in multiple initial DEX offerings (IDOs) and token promotional programs, profiting significantly from the price increase of the tokens he confirms.
Related projects include SuperFarm (SUPER), Polychain Monsters (PMON), SPLYT (SHOPX), and several other projects. Some tokens have dropped more than 90% in value after MrBeast left, evidence of the "pump & dump" scheme.
Detailed investigation
SomaXBT's investigation has been tracking MrBeast's alleged activities using the wallet data assigned to him on Arkham Intelligence. Detectives have identified several instances where MrBeast invested a relatively small amount in tokens through private transactions, and then made millions of dollars by selling them in public transactions at higher prices.
Source: X
One of the typical cases is the SuperFarm (SUPER) token, a project supported by Elliot Trades. According to SomaXBT, MrBeast invested $100,000 in the project and received 1 million SUPER tokens. After the investment, the token price soared. On March 30, 2021, MrBeast was accused of transferring his SUPER tokens to a secondary wallet and then selling them in a series of transactions, earning a total of 1,900 ETH (about $3.7 million at that time).
Source: X
The detective also revealed that MrBeast received additional SUPER tokens through a transfer contract, and then sold them for $5.5 million, increasing the total project revenue to about $9 million.
The investigation also revealed MrBeast's involvement in Polychain Monsters (PMON). In this case, he is believed to have invested $25,000 and received 25,000 PMON tokens. On March 31, 2021, his wallet transferred these tokens to another wallet for sale, earning 685 ETH (about $1.3 million). The total income from this investment amounted to approximately $1.7 million.
Source: X
In addition, MrBeast is also said to have invested $25,000 in SPLYT (SHOPX), from which he earned $765,000 after selling his allocation.
Source: X
He also earned $1.25 million from STAK token, although detailed information about the transaction has not been fully recorded.
Source: X
For Virtue Poker (VPP), MrBeast is said to have participated in a virtual poker tournament and received 600,000 VPP tokens, of which he sold 200,000 tokens and made a significant profit.
Consequences and Ethics
SomaXBT emphasizes the ethical implications of these trades, arguing that MrBeast's behavior is similar to pump & dump schemes, where influential individuals promote low-market-cap tokens, drive up the price, and sell when it peaks, causing retail investors to suffer losses when the price sharply drops.
The investigation also revealed a significant price decline in many projects after MrBeast was accused of selling off. For example, the SUPER token has now decreased by 75% from its peak level, while tokens like PMON and SHOPX have even suffered larger losses, with some decreasing by more than 90%.
This is not a new phenomenon in the cryptocurrency field, especially this year, when many influential people such as Andrew Tate and Iggy Azalea have also been found to participate in market manipulation activities.
Join Telegram:
Follow Twitter (X):
Follow Tiktok:
Annie
According to Cryptonews
Join Telegram:
Follow Twitter (X):
Follow Tiktok:
Annie
According to Cryptonews