Social media KOL MrBeast is accused of making millions of dollars by manipulating and dumping Market CapToken prices.

DailyNews

2024-10-14 12:27:30

Odaily Planet Daily News According to the well-known social media figure Jimmy Donaldson (MrBeast), he is accused of promoting low Market Cap Cryptocurrency projects and then dumping these Tokens to earn over 10 million USD. These allegations stem from an on-chain investigation by encryption investigator SomaXBT, revealing MrBeast’s initial Decentralization trading issuances (ID0) and Token promotions in multiple projects, followed by profiting from dumping after the Token prices soared. The projects involved include SuperFarm ($SUPER), Polychain Monsters ($PMON), and SPLYT ($SHOPX), among which some Tokens dropped in value by over 90% after his exit, sparking ethical controversies and accusations of price manipulation regarding the “Pump and Dump” operations. (Cryptonews)

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