Published on oktober 15, 2024, 12:55 am
Image source: Fox News
```json [ { "TLDR": "YouTube star MrBeast is accused by blockchain investigator SomaXBT of being involved in pump-and-dump schemes in the cryptocurrency world, potentially making over $10 million through projects like SuperFarmDAO and others. These allegations spark discussions about ethics, transparency, and the impact on the crypto community." } ] ```
The crypto world is abuzz with accusations against YouTube star MrBeast, known for his extravagant giveaways and viral videos. A blockchain investigator under the pseudonym SomaXBT has accused MrBeast of involvement in pump-and-dump schemes involving cryptocurrencies, allegedly resulting in gains exceeding $10 million.
According to SomaXBT’s findings, MrBeast purportedly invested $100,000 in SuperFarmDAO and then utilized his influence to boost the value of its associated SUPER token before selling off his holdings. This maneuver allegedly allowed him to profit over $9 million by converting the SUPER tokens into Ether (ETH) and transferring them across various wallets.
Furthermore, SomaXBT highlighted similar activities by MrBeast concerning projects like Polychain Monsters, STAK, VPP, and SHOPX. The investigation suggests that MrBeast may have engaged in promoting these assets without clearly articulating a long-term commitment to them.
The allegations against MrBeast are part of a broader discussion within the cryptocurrency community regarding the ethics of pumping and dumping low-cap tokens. Industry experts have expressed concerns about the negative impact of such practices on both specific projects and the overall cryptocurrency sector. Mike Kremer from Messari emphasized how these activities erode value within the industry.
Another prominent figure in the crypto investigation scene, ZachXBT, criticized influencer Ansem for allegedly facilitating pump-and-dump operations with meme coins. This controversy underscores ongoing debates surrounding integrity and transparency in cryptocurrency dealings.
As these accusations garner attention within the crypto space, it remains to be seen how influencers like MrBeast will navigate growing scrutiny over their involvement in token promotion practices.
Original article posted by Fox News
