Blockchain investigator ZachXBT has exposed crypto influencer Crypto Beast for allegedly orchestrating an $11 million token dump on followers.
The investigation revealed that 45 connected insider wallets tied to Crypto Beast sold over $11 million worth of ALT tokens on July 14, 2025, causing the token’s market cap to crash from $190 million to just $3 million within minutes.
ZachXBT’s analysis traced funding transactions through instant exchanges back to a single Celestia blockchain address that funded both Crypto Beast’s known wallet and the cluster of wallets that dumped ALT tokens on the same day.
Evidence shows that Crypto Beast had been “aggressively promoting $ALT on X and TG” in the days leading up to the crash, with all promotional posts subsequently deleted after the token’s collapse.
The Dump That Wiped Out Retail Investors
Crypto Beast began promoting ALT in early July 2025, generating strong community interest in the Solana-based meme token through his substantial social media following.
On July 14, ALT experienced a catastrophic price collapse within minutes, falling from $0.19 to $0.003 as coordinated selling pressure overwhelmed the token’s liquidity.
ZachXBT’s blockchain analysis identified timing correlations between instant exchange transactions from May through July 2025 that connected Crypto Beast’s verified wallet address to the insider selling network.
The investigator documented how the same Celestia address (celestia1ch***s5) funded multiple exchanges, including KuCoin, Sideshift, Binance, and HTX, to create the connected wallet cluster.
Following the crash, Crypto Beast attempted to distance himself from the incident by claiming on social media that “whale snipers” were responsible for the price collapse, while simultaneously deleting his previous ALT promotional content.
Additional wallets linked to the influencer still hold 89 million ALT tokens, representing 10% of the total supply, suggesting the potential for future market manipulation, according to ZachXBT’s research.
The investigator noted that a separate sniper cluster sold $2.6 million worth of ALT tokens with ties to ALT’s deployer address, but emphasized that Crypto Beast’s connected wallets represented the majority of the selling pressure.
Crypto Beast temporarily deactivated his Twitter account following the exposure, but has since returned with small giveaways to rebuild his follower base, raising concerns about similar future schemes.
Influencer Manipulation in Crypto’s Wild West
This revelation adds to a growing list of similar incidents where crypto influencers have allegedly profited at their followers’ expense.
ZachXBT’s investigation revealed that Crypto Beast has previously been associated with other failed token projects, including ALPHA, RICH, YE, RUG, ACE, and JOHN, among others.
Similar patterns have also emerged across multiple platforms, with influencers like Dave Portnoy recently generating controversy after profiting $75,000 from meme coin trades while his followers suffered losses.
The prevalence of these schemes has led researchers to examine the psychological tactics employed by crypto influencers in exploiting their followers.
Cambridge Professor Alan Jagolinzer’s research indicates that these operators exploit social-psychological factors, with audiences engaging in “self-destructive behaviour to obtain access or increase status” within influencer communities.
The rise of meme coins on platforms like Solana has created an environment where low barriers to entry enable rapid token creation and manipulation, with minimal oversight or regulatory intervention.
However, industry observers have characterized the current market cycle by what some term a “crime supercycle,” where traditional market manipulation tactics have become increasingly normalized within crypto communities.
ZachXBT concluded his investigation by warning that similar schemes will likely continue, stating that the coordination required to acquire a large token supply early while promoting aggressively suggests either direct deployment involvement or collaboration with token creators.
The investigator emphasized that “people need to stop blindly following influencer calls” and called for platform accountability, specifically requesting that Twitter consider suspending accounts involved in repeated scam activities.
The post Crypto Influencer ‘Crypto Beast’ Dumps ALT Token for $11M After Promoting to Followers, ZachXBT Exposes appeared first on Cryptonews.
