MrBeast allegedly made $23 million from crypto scams

MrBeast and his network of YouTube influencers allegedly made millions of dollars from suspicious cryptocurrency transactions.

MrBeast( James Stephen “Jimmy” Donaldson)—is one of the most well-known social media figures worldwide with 320 million YouTube subscribers.

His wide-ranging network has served as a marketing channel for bold and often contentious Bitcoin endeavors.

According to experts from guidance company Loock.io and blockchain researchers like SomaXBT, who previously accused Donaldson of making $10 million from low-cap cryptocurrencies, MrBeast allegedly leveraged his influence to profit from insider trading.

Researchers found nearly 50 wallets linked to the YouTuber as shown in on-chain data. For instance, MrBeast disclosed his Ethereum address when he purchased a CryptoPunk during the 2021 non-fungible token bubble.

This discovery helped observers to link more wallets to MrBeast’s network. Furthermore, other addresses used the same Gemini exchange deposit address, indicating the YouTuber’s control over the money’s ultimate destination.

Loock’s document claims that SuperVerse, originally known as SuperFarm, was one of MrBeast’s largest gains from some projects. The initiative took advantage of an initial coin offering (ICO), the cryptocurrency term for selling tokens at a discount. On X and YouTube, MrBeast and his network promoted the protocol. Even though SuperVerse has already taken down several of his ads, MrBeast continues to follow his page.