YouTuber Mr Beast accused of making $23 million in suspicious crypto transactions

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Jimmy Donaldson, aka Mr Beast, is suspected of making more than $23 million through crypto token promotion and suspected pump-and-dump schemes, according to a new investigation by blockchain firm Loock.io and investigators including SomaXBT. Donaldson, who has more than 324 million subscribers on YouTube, allegedly used his influence to pump up token prices and then sell them, often causing retail investors to suffer losses.

MrBeast (@MrBeast), an influencer with 31.2 million followers, has been involved in insider trading, misleading investors, and using his influence to pump up tokens and then sell them off. He has made more than $23 million from multiple crypto projects: $11.45 million from $SUPER, $4.65 million from $ERN…

Investigators have linked about 50 wallets to the Mr Beast network, noting that some major transactions profited through quick exits. For example, a wallet associated with Mr Beast allegedly invested $25,000 in Ethereum-based token Polkamon (PMON) and subsequently sold it for $1.3 million. On-chain detective ZachXBT previously flagged PMON's trading activity, claiming that insiders profited at the losses of retail investors.

Another wallet bought one million SUPER tokens for $100,000 and sold them for $9 million at the peak of the price, which has since collapsed. According to analysts, SuperVerse (formerly SuperFarm) is one of Donaldson's most profitable projects, with an estimated profit of $7.5 million. The investigation pointed out that Donaldson's public Ethereum wallet had been used for past NFT purchases, helping analysts track the funds through the associated wallets, although it is unclear who managed each transaction.

The investigation sparked debate on social media, with some warning of the rise of influencer-driven crypto risks and others questioning the extent of the connection to Mr Beast himself. One person commented: "He has a net worth of over half a billion, it seems pointless to do something like this and go to jail for a half a billion dollars a few years later, it looks like someone took advantage of his name or something like that."

Donaldson has not yet responded to the allegations.