A recent investigation linked popular YouTube blogger James Stephen Donaldson, known as MrBeast, to an alleged profit of over $23 million from various cryptocurrency transactions that may include insider trading.
- According to Loock.io, a group of researchers claims that MrBeast and his network of influencers used their social media to promote and profit from several cryptocurrency tokens.
- Among the tokens mentioned in the report, SuperVerse (SUPER) generated $11.45 million, Ethernity Chain (ERN) — $4.65 million, Polkamon (PMON) — $1.72 million, STAK — $1.31 million, and AIOZ — $1 million.
- Example: a wallet associated with MrBeast invested $25,000 in PMON and sold it for $1.3 million.
- The investigation also revealed that his network, including other influencers like KSI, earned around $10 million promoting and selling tokens to their subscribers.
This case reflects a broader trend where public figures promote cryptocurrency projects, often leading to losses for retail investors.