- ALT token’s market cap crashed from $190M to $3M
- 45 wallets linked to Crypto Beast dumped $11M
- He was also linked to ALPHA, RICH, and YE scams
Crypto investigator ZachXBT has once again pulled back the curtain on suspicious crypto activity. This time, his investigation centers on “Crypto Beast,” a known Key Opinion Leader (KOL) who has allegedly misled followers for profit. According to ZachXBT, Crypto Beast used platforms like X (formerly Twitter) and Telegram to heavily promote the ALT token earlier this month.
Shortly after the promotional wave, ALT’s market cap nosedived from $190 million to just $3 million. The sharp drop wasn’t just a market fluke. Investigations revealed that 45 wallets linked to Crypto Beast collectively sold their holdings, cashing out more than $11 million in the process.
A Pattern of Rug Pulls
This isn’t Crypto Beast’s first rodeo. According to ZachXBT, he has been involved in a series of similar token pump-and-dump schemes, including projects like ALPHA, RICH, and YE. Each followed the same formula—generate hype, attract investors, and then dump holdings once prices surge.
The ALT incident appears to be another calculated move in this recurring pattern. Such behavior not only harms retail investors but also erodes trust in the broader crypto ecosystem.
Lessons for the Crypto Community
This event is a cautionary tale for anyone involved in the crypto space. It highlights the importance of doing thorough research and not blindly trusting influencers, no matter how credible they may seem. The ALT token crash also emphasizes the need for transparency, regulation, and community-driven accountability in crypto markets.
Investors are advised to monitor wallet activities, be skeptical of overhyped promotions, and rely on independent sources like blockchain investigators to make informed decisions.
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