In one instance, MrBeast reportedly invested $25,000 in Polychain Monsters, generating approximately $1.7 million before dumping the tokens.

Additionally, his wallet's investment of $25,000 in SHOPX yielded a profit of around $765,000 through Ethereum trades.

These allegations have ignited a broader debate within the cryptocurrency community regarding the negative impacts of manipulating low-cap tokens.

YouTube influencer MrBeast, whose real name is James 'Jimmy' Donaldson, is currently under investigation for allegedly engaging in cryptocurrency 'pump and dump' schemes, reportedly earning over $10 million.

Allegations suggest that MrBeast made more than $9 million from a $100,000 investment into the $SUPER token and the SuperFarm project, later rebranded as SuperVerse, by inflating the token's value before selling.

Industry experts, including Messari data engineer Mike Kremer, argue that such 'pump and dump' activities not only harm individual projects but also damage the cryptocurrency sector as a whole.

This controversy comes amid a separate lawsuit involving MrBeast related to his $5 million jackpot game show, which alleges mistreatment and harassment of contestants.

Arkham Intelligence has linked MrBeast to a wallet that made significant profits by investing in low-cap IDO crypto tokens, which were promoted alongside other influencers like Lark Davis and KSI.

SomaXBT, a blockchain investigator, claims that MrBeast was involved in similar activities with various projects, including Polychain Monsters, $STAK, $VPP, and $SHOPX.

SomaXBT's investigation revealed that many tokens associated with MrBeast's wallet have since plummeted over 90% in value.

It remains unclear whether MrBeast intentionally misrepresented his involvement in these projects, as there are no statements indicating a long-term commitment.

Cointelegraph reached out to MrBeast's media team for comments on these allegations but did not receive an immediate response.