MrBeast allegedly profited $23M from crypto insider trading

An investigation by Loock Advising has revealed that popular YouTuber MrBeast may have engaged in insider trading related to cryptocurrencies and NFTs, reportedly profiting at least $23 million through a network of concealed wallets. 

The report suggests that MrBeast publicly endorsed various crypto projects while secretly selling his holdings before significant price drops. 

This practice raises ethical concerns, particularly as MrBeast has previously warned his audience about the dangers of online scams. 

According to Loock Advising, MrBeast's operations involved a complex web of hidden wallets, a strategy often used in similar schemes to artificially inflate asset prices. 

The investigation utilised on-chain data and a social media post from 2021, where MrBeast disclosed his primary wallet address, to trace his broader network of investments. 

The findings indicate that MrBeast endorsed specific crypto projects through social media, often in collaboration with other YouTubers, while cashing out before substantial declines in value. 

Kasper Vandeloock, an analyst at Loock Advising, stated, “We believe this is a result of insider trading because MrBeast has most of his focus set on his social media empire.” 

He noted that cryptocurrency investing requires significant time and attention, suggesting that MrBeast's strategy was to make calculated investments that yielded high returns with less oversight. 

Despite the serious implications of these allegations, the report indicates that insider trading within the crypto space exists in a legal grey area, meaning MrBeast may not face any legal repercussions beyond potential damage to his reputation. 

The investigation concludes with a light-hearted suggestion for MrBeast to consider cheaper token swap protocols than those he has been using.