MrBeast Linked to 50+ Crypto Wallets Allegedly Involved in Insider Trading: Report

A recent investigation has linked popular YouTube personality James Stephen Donaldson, better known as MrBeast, to more than $23 million in alleged profits from various cryptocurrency operations that may involve insider trading.

According to a report by advisory firm Loock.io, a group of blockchain investigators claim that MrBeast and his network of influencers used their social media presence to promote and profit from various crypto tokens at the expense of investors.

$23 million in profits

Lookonchain revealed the tokens allegedly involved in these operations. They include SuperVerse (SUPER), which reportedly made $11.45 million, Ethernity Chain (ERN) with $4.65 million in profits, Polkamon (PMON) with $1.72 million, STAK with $1.31 million of dollars and AIOZ with 1 million dollars.

Loock.io’s findings indicate that approximately 50 crypto wallets are linked to MrBeast’s network. The researchers suggest that their trading activity was traceable to a public Ethereum wallet, historically used for NFT purchases, which helped analysts connect transactions between associated wallets.

This provided information on the movement of funds and identified possible cases where tokens were sold quickly after promotions. However, the details of who specifically managed each portfolio remain uncertain.

Examples of Schemes

A wallet associated with MrBeast reportedly invested $25,000 in PMON, then sold it for $1.3 million. Chain analyst ZachXBT had also previously flagged the trading activities of the tokens.

Reports also show that Donaldson received a large allocation of tokens from the ERN presale, then acquired additional tokens and transferred approximately half to the 0x2eB7 wallet address.

The remaining tokens were moved to another wallet, 0x9b00. Shortly after these transfers, the two portfolios unloaded their holdings, resulting in a combined profit of $1.83 million. MrBeast reportedly made a profit of $2.97 million from his allocated tokens, although he continues to have a smaller amount acquired months later.

The project known as SuperVerse was another profitable venture for him. The YouTuber allegedly made an initial investment of $100,000, generating around $7.5 million in returns.

The investigation suggests that his network, which includes other influencers like KSI, also benefited by promoting and selling tokens to his followers, collectively earning around $10 million.

This alleged activity reflects a wider trend where public figures promote cryptocurrency projects that often result in losses for retail investors. This trend has been particularly evident with meme coins on the Solana (SOL) network, where celebrities launched 30 meme coins in June alone.

On average, these tokens have plummeted 94% from their peak values, with top performers still experiencing losses of more than 70% and nearly half losing more than 99% since launch.

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