Key Takeaways:

MrBeast is accused of earning over $10 million by promoting and selling altcoins, raising ethical concerns in the crypto space.
Allegations by blockchain investigator SomaXBT claim MrBeast promoted low-cap tokens like SuperFarmDAO before selling off for massive profits.
Critics argue that such actions by influencers can harm retail investors and the broader cryptocurrency market.

YouTube star MrBeast faces accusations of earning over $10 million through cryptocurrency schemes, raising ethical concerns within the crypto community.

Blockchain investigator SomaXBT alleged that MrBeast promoted and profited from low-cap Initial DEX Offering (IDO) tokens, including projects like SuperFarmDAO.

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 of these projects are now down over 90%, with some rebranding after major losses.

let's dive in. 🧵 pic.twitter.com/NR9dq9ZnD2
— SomaXBT (@somaxbt) October 11, 2024

MrBeast reportedly invested $100,000 in SuperFarmDAO, using his influence to boost the token’s value before selling his stake for over $9 million in profits.

SomaXBT linked him to similar actions with other projects like Polychain Monsters and SHOPX.

JUST IN: @MrBeast is being accused of participating in pump-and-dump altcoins schemes, allegedly profiting over $10 million pic.twitter.com/3AzTFeKuqJ
— BlockNews.com (@blocknewsdotcom) October 14, 2024

While no legal violations are suggested, the alleged “pump-and-dump” schemes, where influencers promote tokens to inflate their value before cashing out, have sparked criticism.

Mike Kremer, a Messari data engineer, and other investigators, like ZachXBT, have condemned such actions, arguing that they harm retail investors and the overall crypto market.