Jimmy Donaldson, known as Mr Beast, allegedly earned over $23 million through crypto token promotions and suspected pump-and-dump schemes, according to a new investigation.
With over 324 million subscribers on YouTube , Donaldson reportedly used his influence to inflate token prices before selling, often leaving retail investors with losses, according to blockchain firm Loock.io and investigators including SomaXBT .
Investigators Linked 50 Wallets To Mr Beast Network
Investigators linked approximately 50 wallets to Donaldson’s network, citing major trades that profited from quick exits. For example, a wallet tied to Mr Beast allegedly invested $25,000 in the Ethereum-based token Polkamon (PMON), later selling for $1.3 million.
On-chain sleuth ZachXBT had previously flagged PMON’s trading activity, claiming insiders profited at retail investors’ expense.
Another wallet acquired one million SUPER tokens for $100,000, selling them at their peak for $9 million before prices collapsed. SuperVerse, formerly known as SuperFarm, is another of Donaldson’s most profitable projects, with an estimated $7.5 million gain, according to the analysts.
The investigation notes that Donaldson’s public Ethereum wallet, used in past NFT purchases, helped analysts trace funds through associated wallets, though it’s unclear who managed each trade.
The investigation is spurring debate on social media, with some warning of the rise of influencer-driven risks in crypto, and others questioning the strength of the links to Mr Beast himself.
Donaldson has yet to comment on the allegations.
Also Read:
- MAGA Price Prediction: TRUMP Plunges 12% As Investors Flock To This Rival PolitiFi Token Offering 1,188% Staking APY
- Web3’s First Meme Coin Casino Memebet Token Blasts Past $250K In Launch Week As Whales Pile In
- Bitcoin Blasts Past $71K Amid Surging ETF Inflows As Bitfinex Sees ‘Perfect Storm’ Powering BTC To New All-Time High
