Popular YouTuber MrBeast Makes Millions of Dollars From Cryptocurrency Scams
MrBeast, a popular YouTuber and content creator with a net worth of between $700 million and $1 billion according to media, has been profiting from fraudulent activities in the cryptocurrency ecosystem, earning him around $13 million.
This is what SomaXBT pointed out, which points to several digital wallets owned by this YouTuber, who was involved in investments in cryptocurrencies that were the subject of “pump and dump” scams, which consist of advertising and hype around the crypto to allow others to invest in it, and when it reaches its maximum value, he withdraws the funds and leaves the rest of the investors with dead assets.
Specifically, the two cryptocurrencies MrBeast invested in were Polkamon (PMON) and SuperVerse (SUPER). According to Decrypt, the YouTuber bought these cryptocurrencies that were being promoted by other influencers, and soon after sold them for a profit of $13 million.
Regarding Polkamon, MrBeast could have made a $25,000 investment, from which he earned over $1 million in profits, making $1.3 million. Regarding his investment in SuperVerse, Decrypt explains that MrBeast promoted the crypto asset in 2021 through several Twitter posts, and that after purchasing 1 million tokens for $100,000, he sold them a month later when the cryptocurrency was at its best. A few weeks later, the cryptocurrency dropped by 90%.
The YouTuber has not confirmed that he owns these assets, but an old tweet he posted himself reveals that he has been active in the crypto and NFT markets. “I bought this,” he said in 2021 in response to a tweet about the CryptoPunk 939 token.
However, Coinbase sources explained that while it is known that this wallet is linked to MrBeast, it is not possible to know whether he was the one who executed the transactions, as other members of his team could access and manage this wallet on his behalf or as a co-owner.