TLDR:
- MrBeast allegedly involved in multiple crypto “pump and dump” schemes between 2021-2024, potentially earning over $23M
- Over 50 crypto wallets linked to MrBeast show pattern of buying tokens pre-launch, promoting them, then selling at peak
- Projects include SuperVerse ($7.5M profit), Ethernity Chain ($4.6M profit), and several others
- Investigation reveals connections to network including KSI and Alex Becker
- Many promoted tokens lost 95-99% of value after MrBeast and associates sold holdings
Popular YouTuber Jimmy “MrBeast” Donaldson faces allegations of participating in cryptocurrency trading schemes that netted over $23 million in profits through a network of more than 50 wallets, according to blockchain researchers and analysts.
A detailed report by Loock.io, supported by multiple crypto researchers including @hxnterson and @somaxbt, traced MrBeast’s cryptocurrency activities from 2021 to 2024. The investigation uncovered patterns of buying tokens before public launch, promoting them through social media, and selling holdings at peak prices.
🚨 BREAKING: MrBeast investigated for ties to 50+ crypto wallets linked to potential insider trading, netting over $23M in total profits. pic.twitter.com/PjcgrdkX4q
— Cointelegraph (@Cointelegraph) October 30, 2024
The largest profits came from SuperVerse (formerly SuperFarm), where blockchain data shows MrBeast received 1 million tokens pre-launch. Through a series of coordinated sales across multiple wallets, these holdings generated approximately $7.5 million in profit.
Similar patterns emerged with Ethernity Chain (ERN), where MrBeast’s wallets received early allocations and sold holdings for $4.6 million in profit. The investigation identified transactions across multiple projects including AIOZ ($1 million profit), SHOPX ($484,000 profit), and others.
Researchers point to MrBeast’s network of associated content creators and crypto figures, including KSI and Alex Becker, who showed similar trading patterns. Many promoted tokens lost 95-99% of their value after MrBeast and associates sold their holdings.
The investigation identified MrBeast’s primary wallet (0x9e67D018488aD636B538e4158E9e7577F2ECac12) through public NFT purchases and project allocations. From this main address, researchers traced connections to over 50 other wallets showing coordinated trading activity.
Blockchain data reveals a pattern where tokens would flow from project teams to MrBeast’s main wallet, then distribute to secondary wallets which would sell holdings gradually. Many sales occurred near market peaks before tokens experienced steep declines.
One notable example is the SUPER token, where on-chain data shows MrBeast received pre-launch allocations worth about $100,000. These tokens were later sold across multiple wallets for over $7.5 million as the price peaked, before falling over 99%.
The report details MrBeast’s involvement with several crypto projects that used his name and likeness for promotion. Projects like PlayMetaGods and MetaWars featured MrBeast as an investor on their websites and marketing materials.
A wallet labeled “BobbieDigital” emerged as a key part of the operation, handling millions in token sales across multiple projects. This wallet often received large token transfers from MrBeast’s main address before distributing them for sales.
The investigation uncovered regular interactions with crypto exchange deposits, particularly on Gemini and Binance. Many of the identified wallets shared common deposit addresses, helping researchers confirm their connections.
Data shows most profitable trades occurred in 2021, with some activity continuing through 2024. Several wallets remain active with unsold token allocations from various projects.
Technical analysis of the trades shows sophisticated timing, with most sales occurring during periods of high liquidity and price peaks. This suggests coordination and insider knowledge of promotional activities.
The trading patterns often aligned with social media promotion from MrBeast’s network. When associates like KSI would promote a token, blockchain data shows coordinated selling activity across multiple connected wallets.
Most projects connected to these trades have seen dramatic price declines, with many tokens losing over 95% of their value. Retail investors who purchased during promotion periods likely experienced heavy losses.
