YouTube sensation MrBeast, whose real name is James Donaldson, is facing serious allegations concerning his involvement in a cryptocurrency scheme that may jeopardize his philanthropic image.
An investigative report by online analyst SomaXBT, corroborated by blockchain experts such as Kasper Vandeloock, suggests that MrBeast or his team utilized over 50 crypto wallets to acquire specific tokens, promote them aggressively, and subsequently sell them for substantial profits. This strategy, commonly employed by various celebrities entering the crypto space, is referred to as a “pump and dump.”
According to SomaXBT, MrBeast’s earnings from this alleged scheme could be as high as $10 million, with further analysis from Loock.io estimating his total profits to reach approximately $23 million since 2021.
One of the primary projects under scrutiny is SuperVerse, a gaming NFT marketplace previously known as SuperFarm. Reports indicate that MrBeast received one million SUPER tokens in early 2021, selling them within a month for around $7.5 million. Additionally, he purportedly made another $11.4 million from the project in subsequent months.
Evidence presented includes screenshots of a conversation where MrBeast allegedly negotiated a $100,000 payment with crypto influencer EllioTrades to promote the project. Other tokens linked to MrBeast in these investigations include Eternity Chain (ERN), from which he allegedly profited $4.65 million; PolyChain Monsters (PMON), yielding $1.72 million; and SHOPX, netting $484,817.
Furthermore, transaction records show that MrBeast’s wallets transferred significant sums to major cryptocurrency exchanges such as Gemini and Binance, suggesting a possible connection back to him.
As of now, MrBeast has not publicly addressed these allegations. However, SomaXBT and other investigators are urging the public to examine the evidence and consider the implications for MrBeast’s reputation in the cryptocurrency arena.
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