MrBeast, aka Jimmy Donaldson, reportedly earned over $10 million promoting lesser-known cryptocurrencies through Initial DEX Offerings (IDOs).

Crypto investigator SomaXBT identified projects like Polychain Monsters (PMON), Virtue Poker (VPP), SuperFarm ($SUPER), SPLYT ($SHOPX), and STAK linked to MrBeast’s promotions.

SomaXBT warns that these actions resemble pump-and-dump schemes, where influencers hype tokens to drive prices up and sell off for profits, leaving regular investors at risk of losses.

“If this happened in the stock market, the SEC would intervene,” SomaXBT emphasized, comparing it to market manipulation.

Using on-chain data, SomaXBT aims to increase transparency and accountability for influencer-driven promotions in the crypto space.

The findings highlight risks for investors who follow influencers without fully understanding the volatile nature of crypto markets.

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