According to TechFlow, on October 14, Cryptonews reported that well-known YouTube creator Jimmy Donaldson (nickname MrBeast) was accused of making more than $10 million in profits by promoting and selling tokens of multiple small-cap crypto projects.
According to the results of an investigation published by crypto investigator SomaXBT on October 11, MrBeast was involved in the initial coin offerings (IDOs) and token promotion activities of multiple decentralized exchanges. The main projects involved in the investigation include:
SuperFarm ($SUPER): MrBeast allegedly invested $100,000 to obtain 1 million tokens, and later made a profit of approximately $9 million through multiple transactions.
Polychain Monsters ($PMON): Invested $25,000 to get 25,000 tokens, and ultimately made a profit of about $1.7 million.
SPLYT ($SHOPX): Invested $25,000 and sold for a profit of $765,000.
STAK: Profit of approximately US$1.25 million, and specific investment details were not disclosed.
Virtue Poker ($VPP): 600,000 tokens earned through participation in virtual poker tournaments, some of which have been sold for profit.
SomaXBT's investigation was based on wallet data marked as MrBeast by the Arkham Intelligence platform. The investigation showed that MrBeast repeatedly acquired tokens at lower prices through private transactions, and then sold them in large quantities for profit when the public trading price rose. The price of some tokens fell by more than 90% after MrBeast sold them, raising questions about "pump and dump" behavior.
