A group of chain detectives claims that MrBeast, also known as Jimmy Donaldson, has earned millions from several questionable cryptocurrency promotions. The investigation revealed a complex web of alleged cryptocurrency activities related to the YouTube phenomenon. It has raised questions about his cryptocurrency transactions and their impact on investors.
With 320 million subscribers, MrBeast's platform has become a launchpad for several controversial projects. Recent allegations show a range of controversies, from fake videos and illegal lotteries to a troubling employee history.
MrBeast's 23 million dollar cryptocurrency controversy.
Reports mention that MrBeast's involvement in cryptocurrency has been criticized by several other YouTubers like Rosana Pansino and DogPacks404. Consulting firm Loock.io and analysts like SomaXBT allege that MrBeast earned about 10 million dollars through insider trading of low-cap tokens.
The investigative team claims to be conducting a detailed analysis and has discovered connections to over 50 cryptocurrency wallets associated with the famous YouTuber. This indicates a history of deceiving investors by using his influence to promote tokens outside of insider trading. He has pumped tokens only to later sell them on the market.
Reports suggest that MrBeast has earned over 23 million dollars from various cryptocurrency projects. This includes staking profits of 11.45 million dollars from SUPER, 4.65 million dollars from the ERN token, 1.72 million dollars from PMON, 1.31 million dollars from STAK, 1 million dollars from AIOZ, and other projects.
It asserts that the digital creator received a massive batch of tokens from the ERN presale. He then accumulated some more tokens and subsequently transferred about half of his tokens to the wallet address 0x2eB7. However, he transferred the remainder to 0x9b00.
These two wallets liquidated their supply shortly thereafter and made a total of 1.83 million dollars. MrBeast received the allocated tokens and quickly sold his tokens on the market, allowing him to earn 2.97 million dollars. He still holds a smaller amount of tokens, which he acquired a few months later.
The YouTuber earned 7.5 million dollars from SuperVerse.
Previously known as SuperFarm, SuperVerse is said to be a lucrative deal for MrBeast. Reports indicate he invested 100,000 dollars, promoted the tokens to his followers, and then withdrew 7.5 million dollars. Although many promotional posts have been deleted, MrBeast still follows SuperVerse on social media. This raises questions about transparency in influencer-led promotional programs.
Not only MrBeast but his entire network, including figures like KSI, is said to have benefited by selling tokens to their followers after promoting them, bringing in an estimated 10 million dollars.
Ultimately, chain detectives advised MrBeast to stop using Metamask swap because it charges 0.87% and is somewhat outdated. They recommended he use Defillama swap, while most proficient users utilize the Rabby wallet.