In an unexpected turn, YouTube’s biggest star, Jimmy Donaldson—aka MrBeast—is facing allegations of using his influence to profit off low-cap crypto tokens. Known for his heartwarming giveaways and jaw-dropping challenges, MrBeast is now under fire for allegedly making $23 million through a “pump-and-dump” scheme that’s left fans and crypto investors shocked.
What’s MrBeast Accused Of?
According to blockchain analysis group OnchainLens, MrBeast reportedly invested in small, low-cap tokens and hyped them up. After promoting these tokens, he allegedly sold his holdings at inflated prices, leaving regular investors to bear the brunt as the value plummeted. Through more than 50 wallets, MrBeast supposedly earned huge profits from these token sales.
A pump-and-dump scheme essentially inflates the token’s value, drawing in investors, only for the price to crash after the early investor exits—leaving others to face steep losses.
Examples of the Alleged Tactics:
• Polkamon (PMON): Allegedly, MrBeast invested $25,000 in this meme coin and sold it for $1.3 million, cashing out before the price tanked.
• SUPER Token: Another transaction reportedly involved buying one million SUPER tokens for $100,000, which he sold at the peak for over $9 million. Following his exit, the token’s price nosedived, leaving other investors with substantial losses.
These trades had already raised suspicions in the crypto world, with crypto investigator ZachXBT flagging unusual patterns months ago.
Where’s the Proof?
Connecting MrBeast directly to these trades isn’t straightforward. Blockchain tracking firm Arkham Intelligence linked a main wallet to him, but that doesn’t confirm he personally executed these trades. Coinbase’s Conor Grogan also reviewed the wallet’s transactions, noting irregularities but stopping short of directly implicating MrBeast.
With the evidence still murky, opinions are divided. Some investors see this as a stark warning about blindly following influencers, while others argue there isn’t concrete proof of his involvement in a scheme.
