YouTube sensation MrBeast is in hot water, facing serious allegations of making millions from questionable crypto schemes.
Known for his viral charity videos, James Donaldson, aka MrBeast, is now dealing with claims tied to over 50 crypto wallets linked to potential insider trading.
Chain reactions
The drama kicked off when a close associate of MrBeast was accused of misconduct with a minor.
Shortly after that, a former employee claimed he had run an illegal lottery targeting children.
But now, these issues seem minor compared to the latest accusations involving a possible crypto scheme.
An investigation by an online detective revealed that MrBeast allegedly used a pump and dump strategy in the crypto world.
Reports suggest he invested in low-cap tokens, promoted them to his followers, and then sold off his assets right after, leaving many of his fans holding the bag as prices plummeted.
Big profits and bigger allegations
The first findings from this investigation suggested that MrBeast made around $10 million from these activities, but a newer report claims his profits could exceed $23 million since 2021.
This analysis was conducted by a team of blockchain experts who traced connections between more than 50 wallets linked to MrBeast’s main crypto address.
One token that raised eyebrows is SuperVerse. Initially marketed as a gaming NFT marketplace, it faced numerous delays but saw a massive price surge when it launched, thanks in part to MrBeast’s promotion.
Unfortunately, early investors reportedly faced unexpected refunds due to legal loopholes, raising questions about the project’s legitimacy.
Leaked conversations
A leaked chat between MrBeast and another influencer hinted at a $100,000 deal related to promoting SuperVerse. On February 22, 2021, his main wallet received a million SUPER tokens.
Just over a month later, those tokens were transferred and sold for about $7.5 million. Following that sale, MrBeast’s wallet received multiple token releases over the next few months, resulting in total profits of around $11.4 million from SuperVerse alone.
The report also claims he made huge gains from other tokens like Eternity Chain, PolyChain Monsters, and SHOPX, raking in millions more along the way.
There are even suggestions that he coordinated pump-and-dump activities with other influencers to boost his returns.
While MrBeast hasn’t publicly addressed these allegations yet, the evidence presented raises pretty serious concerns.
The connections between wallets and transaction patterns suggest a well-organized strategy for maximizing profits at the expense of everyday investors.
