They claim that Mr. Beast made money from more than five cryptocurrency projects. Researchers say they have detected more than 50 secret wallets used for insider trading. YouTuber Jimmy Donaldson, known as Mr. Beast, faces allegations of having earned more than $23 million through insider trading in cryptocurrencies or insider information on digital asset projects, according to an investigation published by Lookonchain. This influencer, with more than 320 million subscribers, has been accused by that research firm of “betraying the trust of investors and using his influence to promote tokens, only to sell them after making a profit,” says Lookonchain. The investigation details that Mr. Beast would have generated these profits through his participation in more than five emerging cryptocurrency projects quoted in the market. According to Lookonchain research, Mr. Beast would have made significant profits, specifically USD 11.45 million with the SUPER token, USD 4.65 million with ERN, USD 1.72 million from PMON, USD 1.31 million from STAK and USD 1 million from AIOZ.
Lookonchain, through its analysis, discovered more than 50 cryptocurrency wallets linked to Mr. Beast. Source: X. These findings add to a series of recent controversies. This week it was learned that the United States FBI was investigating Mr. Beast for allegations of workplace harassmentwhich is now combined with the accusation of his participation in illicit financial activities. Lookonchain, through its analysis, discovered more than 50 cryptocurrency wallets linked to Mr. Beastsuggesting a pattern of insider trading. “The findings suggest a long history of insider trading, misleading investors and using their influence to promote tokens, only to then release them to the market,” the report details. The document also delves into the various transactions related to these tokens, highlighting the identification of wallets linked to Mr. Beast. “Through our analysis, we found multiple cases where he invested in cryptocurrency projects during pre-sales, generating substantial returns,” as Lookonchain adds.
The research was published on October 29. Source: Lookonchain. This investigation also raises the possibility that Mr. Beast, given his position as a content creator and entrepreneur, could have used his network of influencers and collaborators to obtain privileged information. “Our investigation revealed striking similarities in the cryptocurrency activities of MrBeast, KSI, LazarBeam, among others, indicating that they may have had access to information before the general public,” the report notes. Mr. Beast's case is not isolated. Recently, researcher SomaXBT published a similar report, stating that Donaldson “allegedly earned more than $10 million backing low-cap crypto tokens,” thus expanding the series of accusations against the YouTuber. At 26 years old and with a digital empire that includes MrBeast Burger and Feastables, Jimmy Donaldson now faces a crossroads. Your reputation and business could be significantly affected for these allegations.
This article was created using artificial intelligence and edited by a human Editor.