Major Crypto Scandal: Influencer 'Crypto Beast' Dumps $11M in ALT Tokens After Promotion

VISI.NEWS | BANDUNG - The crypto space is once again rocked by allegations of market manipulation involving a well-known influencer operating under the alias 'Crypto Beast.' According to renowned blockchain investigator ZachXBT, the influencer dumped approximately $11 million worth of ALT tokens shortly after promoting the project to millions of followers across social media. “45 connected wallets were used to dump the tokens in what appears to be a coordinated effort to conceal ownership,” ZachXBT reported.

Timeline of the Alleged Dump

1. Crypto Beast promoted ALT tokens to a large audience, labeling the project as "undervalued" with strong fundamentals. 2. After the price surged from user demand (FOMO), a sudden $11 million sell-off occurred. 3. The sell-off was executed via 45 different wallets in an attempt to hide the source of the dump. 4. On-chain analysis traced these wallets back to a single controlling entity — allegedly Crypto Beast.

Who Is ZachXBT?

ZachXBT is a respected crypto sleuth with a reputation for uncovering over 60+ high-profile crypto scams since 2021. His research is widely cited by Forbes, CoinDesk, Bloomberg, and even U.S. regulatory agencies.

Community Backlash

The crypto community was quick to react: Many followers claimed they were misled and financially harmed. Several users reported losses of 70–90% after buying the ALT token. The hashtag #CryptoBeastScam trended on X (formerly Twitter) within hours “This isn’t just a pump-and-dump it’s a deliberate abuse of trust by someone with influence,” said user @ChainAnalyst42. While no formal investigation by the U.S. Securities and Exchange Commission (SEC) has been confirmed, legal experts note: The act could constitute securities fraud if there was intent to manipulate. It may also violate fair trading laws, especially if financial incentives were not disclosed. 1. Don’t Trust Hype Blindly Always Do Your Own Research (DYOR) — even when influencers seem credible. 2. Watch On-Chain Activity Tools like Dexscreener, Arkham, and Etherscan can help spot suspicious movement. 3. Look Out for Multi-Wallet Sell-offs Bad actors often split tokens across wallets to disguise liquidation. This case underlines a growing concern: unchecked crypto influencers can create real financial harm in an unregulated space. While influencers enjoy vast reach, they are rarely held accountable for promoting risky or fraudulent projects. Thanks to efforts by on-chain investigators like ZachXBT, the community continues to serve as a self-regulating force exposing manipulation in real-time, even when regulators are slow to act. If You’ve Been Affected you can report suspicious projects or influencers to: https://zachxbt.io — for public blockchain investigations https://reportfraud.ftc.gov for U.S. residents reporting fraud Not financial advice do you own research, @gvr