MrBeast Faces New Allegations of Crypto Pump and Dumps, Investigation Reveals a Pattern of Token Dumps

The crypto sector is increasingly getting the attention of celebrities and influencers. Figures like Caitlyn Jenner, Andrew Tate, and MrBeast are attracted to the high they get from promoting projects to their followers.

Popular YouTuber MrBeast, known for his philanthropy and large following, has been accused of engaging in crypto pump-and-dump schemes. Recent investigations have uncovered evidence suggesting that MrBeast may have operated over 50 wallets, which were used to purchase and dump tokens on his followers.

According to the investigations, MrBeast's wallets showed a pattern of buying large amounts of tokens from relatively unknown projects and then dumping them on the market after promoting the projects to his followers.

One example cited by the investigators is a wallet that purchased most of its tokens, including SuperFarm (SUPER), a token that MrBeast heavily promoted to his followers. The wallet received 1 million SUPER tokens in February of 2021 and, after dumping the tokens, MrBeast reportedly made $9 million in profits.

The investigation also found that MrBeast's alleged Binance account processed over $13 million in transactions, and that he also used the Gemini exchange extensively. In total, the investigators believe that MrBeast may have controlled more than 50 wallets.

MrBeast has not publicly commented on the allegations, and the full extent of his profits, and the losses for other investors, is not yet clear. Many of MrBeast's wallets were used for different purposes, such as sales, holding, and farming tokens. Earlier investigations have suggested that he made at least $10 million from the practice.