Crypto Beast Accused of Manipulating ALT Token Crash from $190M to $3M in Major Market Scheme
Main Idea
Crypto influencer Crypto Beast is accused of manipulating the ALT token's price crash from $190M to $3M through coordinated sell-offs and social media promotion before concealing transactions.
Key Points
1. On July 14, a coordinated sell-off from multiple internal wallets caused ALT token's price to drop from $0.19 to $0.003, reducing its market cap from $190M to $3M.
2. Crypto analyst ZachXBT linked the sell-off to Crypto Beast, who promoted ALT on social media before deleting his public wallet address.
3. Over 45 associated wallets were traced, revealing complex fund transfers via Celestia and exchanges like Kucoin and Binance.
4. Similar behavior was observed in other projects (ALPHA, RICH, YE), suggesting a pattern of coordinated token manipulation.
5. Industry experts urge platforms like X to address risks posed by influencer-driven market manipulations in crypto.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Crypto influencer Crypto
Latest News
- SP 500 CLOSES UNCHANGED, NASDAQ DOWN 0.4%, DOW UP 0.4%, BTC UP 1.97%.2025-07-22 20:27:16
- Ethereum Spot ETFs See Record Inflows and Potential SEC Amendments Signal Market Opportunities2025-07-22 20:27:03
- CRYPTO PREDICTION MARKET POLYMARKET CONSIDERS LAUNCHING ITS STABLECOIN:2025-07-22 20:26:22
- XRP Futures May See Increased Activity Following Record Trading Volume and Price Highs2025-07-22 20:11:28
- SP 500 CLOSES UNCHANGED, NASDAQ DOWN 0.4%, DOW UP 0.4%2025-07-22 20:08:31