TechFlow News, October 14 — According to a report by Cryptonews, popular YouTube creator Jimmy Donaldson, widely known as MrBeast, is accused of profiting over $10 million by promoting and then selling off multiple low-market-cap cryptocurrency project tokens.
On October 11, crypto investigator SomaXBT released an investigation revealing that MrBeast participated in initial DEX offerings (IDOs) and token promotion campaigns for several projects. The main projects involved include:
-
SuperFarm ($SUPER): MrBeast allegedly invested $100,000 to acquire one million tokens, generating approximately $9 million in profits through multiple transactions.
-
Polychain Monsters ($PMON): Invested $25,000 to obtain 25,000 tokens, ultimately earning around $1.7 million in profit.
-
SPLYT ($SHOPX): Invested $25,000, realizing a profit of $765,000 upon sale.
-
STAK: Earned approximately $1.25 million; specific investment details were not fully disclosed.
-
Virtue Poker ($VPP): Acquired 600,000 tokens by participating in virtual poker tournaments, with portions already sold for profit.
SomaXBT's findings are based on wallet data linked to MrBeast and tracked via the Arkham Intelligence platform. The investigation indicates that MrBeast repeatedly acquired tokens at discounted prices through private deals, then dumped large quantities after public price increases. In some cases, token prices dropped more than 90% following his sales, raising suspicions of "pump-and-dump" schemes.
