MrBeast Tied to Alleged Crypto Pump-and-Dump Schemes, Linked to Over 50 Wallets

YouTube influencer MrBeast, aka Jimmy Donaldson, faces allegations of profiting from crypto pump-and-dump schemes tied to over 50 wallets, with investigations suggesting he made over $10 million through coordinated token promotions.

Popular YouTuber and influencer MrBeast, known in the crypto community as Jimmy Donaldson, is under scrutiny following allegations of profiting over $10 million through a series of alleged crypto pump-and-dump schemes. This controversy arose from a report by crypto investigator SomaXBT, who claims Donaldson collaborated with other influencers to promote low-cap tokens, later selling off substantial holdings, leaving retail investors at a loss.

Allegations and Investigative Findings

The initial allegations surfaced when SomaXBT reported that MrBeast had profited by endorsing low-cap tokens through online personalities, only to sell them off after prices peaked. This investigation gained traction, revealing that some tokens saw value drops exceeding 90%, with rebranding efforts made to distance themselves from the fallout.

The crypto investigator’s research, corroborated by analysts such as Kasper Vandeloock and Hxnterson, highlighted that Donaldson’s wallets were part of a network tied to high-profile sell-offs. The team tracked over 50 wallets funneling funds into MrBeast’s primary wallet, an address he publicly confirmed in 2021 with a 50 Ethereum purchase.

The report specifically points to Donaldson’s involvement with SuperVerse (SUPER), where he allegedly earned $11.5 million by promoting the token alongside influencer EllioTrades. SUPER, intended to support an NFT marketplace and gaming platform, saw a 50x price jump following promotions, but early buyers experienced abrupt token refunds and price drops.

SUPER Token Profits and Other Crypto Ventures

In early 2021, Donaldson reportedly transferred a million SUPER tokens to a side wallet, later selling them for $7.5 million. He allegedly made additional gains through unlocked token supplies, accumulating $4.6 million from Eternity Chain (ERN), $1.7 million from PolyChain Monsters (PMON), and nearly $485,000 from SHOPX. Each transaction, as indicated by investigators, seemed aimed at maximizing profits through market hype, with coordinated efforts to create demand before rapid sales.

The Solana ecosystem, which hosts celebrity-backed tokens, has faced similar cases of hype-driven sales. According to recent reports, nearly 30 celebrity-themed meme coins launched on Solana this year, yet the majority have seen drastic price declines, with 50% dropping by 99% and seven more falling by 90%.

Industry Impact and Broader Questions

The allegations against MrBeast highlight ongoing concerns about celebrity-driven crypto schemes, with many left questioning the ethical boundaries of influencer promotions in speculative markets. Retail investors, who often bear the losses, are increasingly wary of the risks associated with such ventures, underscoring the need for transparency and accountability in crypto promotions.

As investigations continue, the crypto community watches closely to see whether influencers will face regulatory scrutiny over such practices in the future.

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