Popular YouTuber MrBeast, real name Jimmy Donaldson, is facing accusations of profiting more than $10 million from participating in cryptocurrency pump-and-dump schemes. Blockchain investigator SomaXBT alleges that MrBeast promoted and sold low-cap crypto tokens to inflate their value before selling off his holdings for substantial profits.
The allegations are directed at MrBeast, one of YouTube’s most-followed creators. SomaXBT, the blockchain investigator who exposed the claims, suggests that MrBeast used his influence to promote tokens, including SuperFarmDAO, and later dumped his investments for significant gains. Other influencers, including Lark Davis, CryptoBanter, and KSI, are also mentioned as part of the alleged promotion efforts.
The claims surfaced recently in a post by SomaXBT on X (formerly Twitter). While specific dates of MrBeast’s activities were not revealed, the accusations focus on his promotion of projects like SuperFarmDAO and others, such as Polychain Monsters, STAK, VPP, and SHOPX.
The alleged pump-and-dump activity took place within the cryptocurrency ecosystem. According to the accusations, MrBeast promoted these tokens across social media and blockchain platforms, leading to their inflated values before selling his shares for significant profits. Millions of dollars’ worth of tokens were reportedly converted into Ether and spread across multiple wallets.
SomaXBT claims MrBeast’s participation involved inflating the price of these crypto projects, which misled investors into believing the tokens were more valuable than they were. This tactic, commonly known as a pump-and-dump, causes retail investors to buy into the hype, only for the token’s value to crash once large holders sell their positions.
MrBeast allegedly invested $100,000 in projects like SuperFarmDAO, used his social media influence to promote them, and then profited by selling his holdings after the token prices increased. This resulted in over $9 million in profits from these trades. Similar patterns were noted with other tokens he promoted, according to the investigator.
The accusations come amid growing concerns in the crypto community about influencers using their platforms to manipulate markets. MrBeast has not responded to the claims, and it remains unclear whether his involvement was intentional or inadvertent. These types of schemes have sparked wider debates about the ethics of market manipulation in the cryptocurrency space.
