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Cryptocurrency Influencer Crypto Beast Exposed for Orchestrating ALT Flash Crash Event, Implicated in Cash Out Scheme of Over $11 Million
BlockBeats News, July 22nd, Crypto Detective ZachXBT posted on X, alleging that Crypto KOL "Crypto Beast" was suspected of planning and manipulating an ALT token to plummet from a $190 million market cap to $3 million. On July 14th, a large number of internal wallets sold over $11 million worth of $ALT in a short period of time, causing the price to crash from $0.19 to $0.003.
According to on-chain analysis, Crypto Beast had previously actively promoted ALT on X and Telegram and shared its public wallet address in posts (now deleted). Analysts traced the address's connection to multiple side wallets transferred through Celestia, with funds flowing through various instant exchanges such as KuCoin, Binance, and others.
Over 45 wallets were linked to Crypto Beast, all of which collectively dumped the token on July 14th. Furthermore, he had employed similar tactics in multiple projects, suspected of being involved in rug-pulling multiple tokens, such as ALPHA, RICH, YE, and others.
Despite Crypto Beast briefly deactivating the account after the incident and deleting related promotional content, he has since reappeared and is leveraging small airdrops to attract new followers. ZachXBT called on the X platform to strengthen supervision of such behaviors and reminded investors to be cautious of the risks behind "influencer-led pumps and dumps."
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