Why it matters: Cryptotimes.io reports that Popular YouTuber MrBeast (Jimmy Donaldson) faces serious allegations of orchestrating cryptocurrency pump-and-dump schemes, potentially profiting $23 million at his followers’ expense. This case highlights growing concerns about influencer accountability in the volatile crypto market.
The Investigation: Blockchain analytics platform Lookonchain claims to have identified over 50 crypto wallets linked to MrBeast’s alleged scheme. The investigation suggests a pattern of token promotion followed by large-scale selling during price peaks.
- Multiple tokens involved
- Transactions traced through various exchanges
Specific Claims: According to Binance, the report details several high-profile transactions, including a significant SuperFarm Token (SUPER) deal in which MrBeast allegedly received 1 million tokens and sold them for $9 million after promotion. Similar patterns emerged with other cryptocurrencies like Polychain Monsters and Ethernity Chain.
- Single transactions exceeding $13 million
- Multiple tokens showing similar patterns
Market Impact: These allegations raise serious questions about influencer responsibility in cryptocurrency promotion. The case could accelerate discussions about regulatory oversight and disclosure requirements for public figures promoting digital assets.
