A recent investigation has linked popular YouTube personality James Stephen Donaldson, better known as MrBeast, to over $23 million in alleged profits from various cryptocurrency trades that may involve insider trading.<\/p>\n
According to a report by advisory firm Loock.io, a group of on-chain investigators claims that MrBeast and his influencer network used their social media presence to promote and profit from several crypto tokens at the expense of investors.<\/p>\n
Lookonchain revealed<\/a> the tokens allegedly involved in these trades. They include SuperVerse (SUPER), which reportedly yielded $11.45 million, Ethernity Chain (ERN) with $4.65 million in profits, Polkamon (PMON) with $1.72 million, STAK with $1.31 million, and AIOZ with $1 million.<\/p>\n Loock.io\u2019s findings indicate<\/a> that approximately 50 crypto wallets are linked to MrBeast\u2019s network. The investigators suggest that his trading activity was trackable due to a public Ethereum wallet, historically used for NFT purchases, which helped analysts connect transactions across associated wallets.<\/p>\n This provided insight into the funds\u2019 movement and identified possible instances where tokens were quickly sold after promotions. However, the details of who specifically managed each wallet remain uncertain.<\/p>\n A wallet associated with MrBeast is reported to have invested $25,000 in PMON, later selling it for $1.3 million. On-chain analyst ZachXBT had also previously flagged the tokens\u2019 trading activities.<\/p>\n The reports also show that Donaldson received a significant allocation of tokens from the ERN pre-sale, later acquiring additional tokens and transferring approximately half to the wallet address 0x2eB7.<\/p>\n The remaining tokens were moved to another wallet, 0x9b00. Shortly after these transfers, the two wallets offloaded their holdings, resulting in a combined profit of $1.83 million. MrBeast reportedly realized a profit of $2.97 million from his allocated tokens, although he continues to hold a smaller quantity acquired months later.<\/p>\n The project known as SuperVerse was another profitable venture for him. The Youtouber allegedly made an initial investment of $100,000 reportedly generating around $7.5 million in returns.<\/p>\n The investigation suggests that his network, which includes other influencers like KSI, also benefited by promoting and selling tokens to their followers, collectively earning an estimated $10 million.<\/p>\n This alleged activity reflects a broader trend where public figures promote cryptocurrency projects that frequently result in losses for retail investors. This trend has been particularly evident with meme coins<\/a> on the Solana (SOL) network, where celebrities launched 30 meme coins in June alone.<\/p>\n On average, these tokens have plummeted<\/a> by 94% from their peak values, with the top performers still experiencing losses of over 70% and nearly half losing more than 99% since their launch.<\/p>\n The post MrBeast Linked to Over 50 Crypto Wallets Allegedly Involved in Insider Trading: Report<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" A recent investigation has linked popular YouTube personality James Stephen Donaldson, better known as MrBeast, to over $23 million in alleged profits from various cryptocurrency trades that may involve insider trading. According to a report by advisory firm Loock.io, a group of on-chain investigators claims that MrBeast and his influencer network used their social media […]<\/p>\n","protected":false},"author":0,"featured_media":16988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16987"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16987"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16988"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Examples of the Schemes<\/h2>\n