MrBeast is one of the highest-earning YouTubers, with 320M subscribers and multiple successful channels. He is known for conducting extremely difficult but rewarding competitions. Many will remember him for buying everything in people’s carts at malls and shopping spaces. With such popularity, he is always in the news for something good or bad. The same is true today as he is facing multiple scandals and legal issues, including the accusations of the crypto pump and Dump scams.
Is MrBeast Really Involved In A Crypto Pump and Dump Scam?
What is interesting about popular personalities is that their followers always watch and follow their recommendations. The name Influencer itself shows that it is someone with the capacity to influence someone. MrBeast has perfectly taken advantage of that, as he promoted many cryptocurrencies, boosting their demand, with his followers. Interestingly, a few crypto investigators disclosed that he often sold a heavy amount of those pumped tokens when the price hit high, eventually crashing the token down. It is called a pump-and-dump scam, where someone intentionally boosts the token before dumping all of their tokens. However, the dump ends up costing heavy losses to others. Such kinds of crypto scams have become quite common in the industry. Just recently, a Dubai Investor minted $30 Million in crypto celebrity pump and dump, and many other cases.The accusations and legal action began after Rosana Pansino and DogPacks404, who are famous YouTubers, had this discussion one day, and many analysts took over to analyze MrBeast crypto activities. Interestingly, they did find some connection between him and various pump-and-dump scam incidents, shocking everyone. The loock.io report has concluded these findings, revealing that the YouTuber has earned more than $ 23 million with his 50 crypto wallets involved in the dumping scams.