The world of cryptocurrency is no stranger to controversy, and the latest storm involves none other than YouTube sensation MrBeast. The influencer, whose real name is Jimmy Donaldson, is under intense scrutiny after a group of on-chain investigators uncovered links between him and questionable cryptocurrency promotions.
Uncovering $23 Million in Dubious Deals
A team of diligent online researchers recently delved into MrBeast’s crypto activities, uncovering what they claim to be a trail of suspicious promotions. Allegedly, MrBeast has amassed over $23 million through these shady deals, raising questions about the ethical implications of such promotions.
One of the most notable promotions involves SUPER, where MrBeast, boasting a staggering 320 million subscribers, reportedly received a hefty kickback of $11.45 million. The investigation, spearheaded by individuals like @KasperLoock and others, further revealed earnings from various tokens, including $4.65 million from ERN coin, $1.72 million from PMON, $1.31 million from STAK, and $1 million from AIOZ.
A Network of 50 Crypto Wallets Linked to MrBeast
The analysis by Loock.io presents a detailed examination of over 50 digital wallets linked to MrBeast. A significant piece of evidence supporting this link is the “shared deposit address,” which points to the influencer’s involvement. The advisory firm suggests that MrBeast might use his massive influence to mislead traders, promoting questionable tokens before executing a strategy to pump and dump these coins on the market.
Further investigations by SomaXBT indicate that MrBeast might have profited over $10 million through marketing low-cap cryptocurrency tokens. Accusations of insider trading have also surfaced, adding to the complexity of the case. Reports claim that MrBeast struck a lucrative deal with SuperVerse, formerly known as SuperFarm, investing about $100,000 to promote the token and subsequently reaping an estimated $7.5 million in profits.
Calls for Influencer Accountability
The allegations against MrBeast have reignited debates about influencer accountability in the realm of cryptocurrency. These incidents have given rise to a new breed of “YouTube investigators,” individuals who use their platforms to expose the questionable activities of fellow influencers. Their efforts highlight the need for transparency and ethical standards in cryptocurrency promotions.
Additionally, authorities are intensifying their efforts to combat crypto scams. The US Department of Justice, for instance, established the National Cryptocurrency Enforcement Team in 2021 to address growing concerns in this area. On-chain investigators continue to challenge influencers who promote tokens, often labeling these promotions as clear scams.
As of now, MrBeast has not responded to the allegations, and the accusations remain unverified. However, the situation underscores the vital discussions around the ethical responsibilities of influencers in the crypto space.
