YouTuber MrBeast Accused of Making Millions from Low-Cap Token Promotions- Onchain Sleuth
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
YouTube star Jimmy Donaldson, popularly known as MrBeast, has been accused of earning over $10 million through promotions and subsequent dumping of several low-cap cryptocurrency projects with tokens. The accusations came following an on-chain investigation.
According to the investigation conducted by crypto sleuth SomaXBT, MrBeast participated in various Initial DEX Offerings (IDOs) and token promotions for several projects, profiting significantly from the surge in token prices after his endorsements.
Projects allegedly involved include SuperFarm ($SUPER), Polychain Monsters ($PMON), SPLYT ($SHOPX), and others, with some tokens dropping over 90% in value after MrBeast’s exit, making a perfect example of a “pump and dump” scheme.
1/ An investigation into @MrBeast ,how he allegedly made $10M+ by backing low-cap IDO crypto tokens promoted by influencers like Lark Davis, CryptoBanter, KSI, and others. Many of these projects are now down over 90%, with some rebranding after major losses.
let's dive in.
