{"id":17758,"date":"2024-10-14T17:20:48","date_gmt":"2024-10-14T14:20:48","guid":{"rendered":"https:\/\/forklog.com\/en\/mrbeast-accused-of-promoting-scam-tokens-by-researcher\/"},"modified":"2024-10-14T17:20:48","modified_gmt":"2024-10-14T14:20:48","slug":"mrbeast-accused-of-promoting-scam-tokens-by-researcher","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mrbeast-accused-of-promoting-scam-tokens-by-researcher\/","title":{"rendered":"MrBeast Accused of Promoting Scam Tokens by Researcher"},"content":{"rendered":"<p>YouTube personality MrBeast allegedly earned over $10 million by investing in low-cap tokens and promoting them. This conclusion was drawn by anonymous on-chain analyst SomaXBT, as reported <a href=\"https:\/\/x.com\/somaxbt\/status\/1844718089478324309\">here<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ An investigation into <a href=\"https:\/\/twitter.com\/MrBeast?ref_src=twsrc%5Etfw\">@MrBeast<\/a> ,how he allegedly made $10M+ by backing low-cap IDO crypto tokens promoted by influencers like Lark Davis, CryptoBanter, KSI, and others. Many of these projects are now down over 90%, with some rebranding after major losses.<\/p>\n<p>let&#8217;s dive in. ? <a href=\"https:\/\/t.co\/NR9dq9ZnD2\">pic.twitter.com\/NR9dq9ZnD2<\/a><\/p>\n<p>\u2014 SomaXBT (@somaxbt) <a href=\"https:\/\/twitter.com\/somaxbt\/status\/1844718089478324309?ref_src=twsrc%5Etfw\">October 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Many of the assets in question later fell by more than 90% or underwent rebranding, the expert noted.<\/p>\n<p>The analysis was based on a wallet tagged on the Arkham platform as allegedly belonging to the YouTuber. Social media activity was also cited as evidence.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXcONewNoLWcUY3ITpUU0Fu_LLJYbYAz-uVdQF3RIy80effXo40BqK6itLGmedFL_eY2LvL1NfB_JPCvP7FBXIk8zo6Z7ZZhSmici4CMV7CTFYtk2hWffbfCWbGBi-oMKLRvPWQsEyAvs7CVT0KdhBqfoYmW?key=VPCJ2Za__GIBEihDdv7fcA\" alt=\"MrBeast accused of promoting scam tokens\"\/><figcaption class=\"wp-element-caption\">The alleged MrBeast wallet. Source: SomaXBT.<\/figcaption><\/figure>\n<p>In one instance, MrBeast reportedly earned over $9 million by purchasing the SUPER token and supporting the SuperFarm project. To substantiate the theory, SomaXBT presented a screenshot from a broadcast by popular crypto enthusiast EllioTrades, which inadvertently showed a conversation with MrBeast discussing a $100,000 investment.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXejAUYEYCzfUaZX2dpb1UKC_e5qL_c8zIH-HCVY1BqxjMVcW_cbfFbf6nCcAMe9nY9iieBd9YGj3OghaBrUgZJ2dNqMEHysfORUEowxT1F1MD1_ik-lvVofV2iv5nb2Q_OXGU50uw0A7kLUjzgIrfwqCxw?key=VPCJ2Za__GIBEihDdv7fcA\" alt=\"MrBeast accused of promoting scam tokens\"\/><figcaption class=\"wp-element-caption\">Screenshot from EllioTrades&#8217; broadcast. Source: SomaXBT.<\/figcaption><\/figure>\n<p>Subsequent activity from MrBeast&#8217;s wallet was recorded.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">4\/ Here is wallet activity<br \/>\u2014 on 2021-02-21 19:59 received 100k USDC from the Binance US<br \/>\u2014 2021-02-21 20:08 sent $100k USDC to the new wallet<br \/>\u2014 Next day 2021-01-22 16:53 received 1M super token <a href=\"https:\/\/t.co\/8M9WKvmtKL\">pic.twitter.com\/8M9WKvmtKL<\/a><\/p>\n<p>\u2014 SomaXBT (@somaxbt) <a href=\"https:\/\/twitter.com\/somaxbt\/status\/1844718105416646892?ref_src=twsrc%5Etfw\">October 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<ul class=\"wp-block-list\">\n<li>On February 21, 2021, he received 100,000 USDC from Binance US;<\/li>\n<li>minutes later, the stablecoins were sent to a new address;<\/li>\n<li>the next day, 1 million SUPER was received.<\/li>\n<\/ul>\n<p>Following this, the YouTuber &#8220;demonstrated his support&#8221; for the project by leaving an eye emoji under a deleted tweet.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXepYeg8MVnueIKNoOwQdunddM1i5w1ljK7jbaF7HYX6wAdAGwAB3hb4vGWi6e8Cema2OrciX73VuZ7V1v1NkUYw7_Mya42OemcARR2jE1l1e-ulzejTIcfP2FRQ7OfQKEoamItAMfyBbyLFSoR8wsIkqvFP?key=VPCJ2Za__GIBEihDdv7fcA\" alt=\"MrBeast accused of promoting scam tokens\"\/><figcaption class=\"wp-element-caption\">MrBeast follows SuperFarm. Source: SomaXBT.<\/figcaption><\/figure>\n<p>On March 30, 2021, the YouTube star transferred 1 million SUPER to a new wallet and within a day exchanged it for 1900 ETH. The next day, Ethereum worth $3.7 million was moved to the blogger&#8217;s address and then to Binance US.<\/p>\n<p>Between May 8 and October 22, 2021, the YouTuber received SUPER tokens from a vesting contract and sold them on the open market, earning an additional $5.5 million.<\/p>\n<p>Other projects involved include:<\/p>\n<ul class=\"wp-block-list\">\n<li>PMON \u2014 invested $25,000, earned $1.7 million;<\/li>\n<li>SHOPX \u2014 $25,000 and $765,000;<\/li>\n<li>STAK \u2014 $250,000 and $1.25 million.<\/li>\n<\/ul>\n<p>SomaXBT also mentioned XCAD and AIOZ, where &#8220;insiders made significant profits while retail investors suffered losses.&#8221;<\/p>\n<p>Subsequently, SUPER fell by 75%, and other tokens by more than 90%. Additionally, MrBeast showed support for NFTs, openly promoting VeeFriends.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">15\/ With all this, MrBeast also showed his support for NFTs. He openly promoted VeeFriends from Gary Vee on Twitter and spent $1.25 million to buy them. Additionally, he has traded various NFTs. <a href=\"https:\/\/t.co\/iZ097TdwNa\">pic.twitter.com\/iZ097TdwNa<\/a><\/p>\n<p>\u2014 SomaXBT (@somaxbt) <a href=\"https:\/\/twitter.com\/somaxbt\/status\/1844718165650968668?ref_src=twsrc%5Etfw\">October 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;These are shady things they all did in the crypto market. If they did similar things in the stock market, the SEC would pursue them,&#8221; concluded SomaXBT.<\/p>\n<\/blockquote>\n<p>In October, ZachXBT criticized crypto influencer Sion Thomas (Ansem) for executing a Pump &#038; Dump scheme involving numerous meme coins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>YouTube personality MrBeast allegedly earned over $10 million by investing in low-cap tokens and promoting them. This conclusion was drawn by anonymous on-chain analyst SomaXBT, as reported here. 1\/ An investigation into @MrBeast ,how he allegedly made $10M+ by backing low-cap IDO crypto tokens promoted by influencers like Lark Davis, CryptoBanter, KSI, and others. Many [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1246,1103],"class_list":["post-17758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-scammers","tag-youtube"],"aioseo_notices":[],"amp_enabled":true,"views":"125","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17758"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17757"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}