Popular influencer MrBeast (@MrBeast), who boasts 31.2 million followers, is under scrutiny following allegations of insider trading, misleading investors, and leveraging his influence to pump cryptocurrency tokens—only to later dump them for profit.
Based on a detailed investigation of his wallet transactions on Arkham Intelligence, it’s estimated he made over $23 million from various crypto projects through these practices.
A key source of his profits came from $SUPER, where MrBeast invested $100,000 in 2021, securing 1 million tokens.
Soon after, he began promoting the project on Twitter. Just a month later, he liquidated his 1 million $SUPER for 1,900 ETH, sending it to Binance.
Over the following year, he received an additional $6.9 million worth of $SUPER from the vesting contract, selling this amount on the open market for around $5.5 million in profits.
In another case, MrBeast invested $25,000 in @protocolmon’s $PMON tokens, receiving 25,000 tokens. Backed by @MoonrockCapital, $PMON underwent heavy promotion, and MrBeast sold his entire allocation for 685 ETH within a week, profiting $1.7 million. He later received another 68,700 $PMON tokens from the team, adding another $385,000 to his earnings.
Other projects followed similar patterns. With @shopxlabs, he invested $25,000 in $SHOPX, profiting $765,000 by selling off his allocation. He also made $1.31 million from @jigstack’s $STAK tokens and another $4.6 million from @EthernityChain’s $ERN tokens.
The report further details his involvement in smaller projects, NFTs, and play-to-earn ventures, most of which have since lost public interest. This controversy now raises questions about transparency and ethics in influencer-driven crypto promotions.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
How Solana Transformed an Entrepreneur’s Life & Why BlockDAG Could Be the Next Millionaire Maker…
The SOL price has surged to well over $200 as its market capitalization exceeded $100…
BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…
The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…
Meme coins are back with a bang and are as insanely volatile as ever! Bonk…
Staking has become one of the most effortless ways to generate passive income in the…