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    MrBeast allegedly reaped $10M promoting and dumping altcoins

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    YouTube star MrBeast has been accused by blockchain detective SomaXBT of earning over $10 million from promoting low-cap IDO crypto tokens, including SuperFarmDAO, Polychain Monsters, $STAK, $VPP, and $SHOPX. Allegedly, MrBeast invested significant amounts into these projects before inflating their value and selling for profit, a practice known as ‘pumping and dumping’. The accusations highlight the broader negative impacts of such activities in the cryptocurrency community.

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    MrBeast, a major name on YouTube, has been called out for supposedly taking part in some dodgy cryptocurrency activities. According to these claims, he’s made upwards of $10 million from these sneaky moves. A blockchain detective, who goes by SomaXBT on X social media platform, made these bold accusations.

    The lowdown is that SomaXBT reckons MrBeast netted himself a cool $10 million plus by pushing certain low-cap IDO crypto tokens that other influencer giants like Lark Davis, CryptoBanter, KSI, and others had hyped up.

    The meat of SomaXBT’s claim is that MrBeast invested a chunky $100,000 into a project dubbed “SuperFarmDAO.” He apparently then used his influencer clout to pump up the value of the project’s SUPER token before ditching his shares. This move is what allegedly bagged MrBeast millions of dollars’ worth of ETH crypto which he then shuffled around several wallets. The end result? Supposedly over $9 million in profit for the YouTube star.

    Even more intriguing is that SomaXBT pointed out similar shady dealings by MrBeast with the Polychain Monsters, $STAK, $VPP, and $SHOPX projects. Whether MrBeast knowingly or unknowingly misled his stance on these projects is still up in the air at the moment.

    These alleged antics tie into a bigger discussion happening in the cryptocurrency community about the harm of pumping and dumping low-cap tokens. Some experts, like data engineer Mike Kremer, have voiced strong opinions that this kind of activity destroys value for the projects and the overall cryptocurrency community. Another big voice in the blockchain world, ZachXBT, has also called out crypto influencer Ansem for supposedly promoting low-cap tokens and facilitated a series of memecoin pump-and-dumps.

    Source: Cointelegraph

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