MrBeast-Linked Crypto Wallets Make $13 Million at Influencers Shield

Crypto wallets linked to YouTube personality MrBeast have raised nearly $13 million in cash across multiple token launches that have been described by analysts as pump-and-dumps, according to a new analysis of the chain.

The main wallet, which has blockchain analytics firm Arkham Intelligence Connected. To MrBeast, aka Jimmy Donaldson, and the content creator himself He said earlier He was buying NFTs, bought into the token sale of several controversial crypto projects – and soon dumped his holdings for huge profits.

An investigation by an anonymous chain analyst SomaXBT Wallets linked to MrBeast have raised nearly $13 million and were bought in bulk — mostly in 2021 — at prices of up to $250,000.

In such a case, the wallet seems to have invested $25,000 in Ethereum meme coin Polkamon (PMON) instead of 25,000 PMON. Hours later, the address associated with MrBeast dumped the tokens for a profit of nearly $1.3 million.

As anonymous hacker Zacksbit detailed at the time, Polkamon faced allegations that it set out to enrich investors and insiders by dumping retailers who were left with low-value bags. In the year In the summer of 2021, ZackXBT described PolkaMon as a crypto project “showing suspicious activity”.

The wallet connected to MrBeast also includes other projects that have made similar profits Superverse (SUPER), which MrBeast publicly endorsed in 2021 with several posts on Twitter. The wallet associated with the YouTube personality apparently received one million SUPER tokens in exchange for $100,000 USDC. A month later, the wallet dumped the tokens at an all-time high. In the following weeks, SUPER crashed more than 90% in value.

All told, the wallet associated with MrBeast has made over $9 million on his super deals.

While these controversial activities are directly related to the crypto wallet that MrBeast has admitted to using publicly, it is not certain whether MrBeast actually made the trades.

Conor Grogan, head of product at Coinbase, has previously investigated transactions made by wallets linked to the MrBeast in question. But even he was cautious about what conclusions could be drawn from such chain behavior.

“There's a chance it's a friend or a producer or a completely unrelated person behind these accounts,” Grogan said. Decrypt. “It's hard to say. So I generally don't like to accuse people without hard evidence.

Decrypt He contacted MrBeast and his team regarding the transactions but did not immediately receive a response.

Edited by Andrew Hayward.