Market Turmoil: Alleged $11M Exit Scam Exposes Cryptocurrency Influencer’s Shocking Scheme

$11M Exit Scam? ZachXBT Exposes Influencer Crypto Beast in Shocking $ALT Dump

A massive exit scam has been uncovered, and the implications are catastrophic. According to a recent report by blockchain security investigator ZachXBT, crypto influencer Crypto Beast is behind an alleged fraudulent scheme that resulted in a staggering 97% price drop of the ALT token.

On July 14, 2025, between 9:00 AM and 10:00 AM, the value of ALT plummeted from $0.19 to just $0.003, causing a devastating market capitalization collapse from $190 million to a mere $3 million.

In an attempt to cover their tracks, Crypto Beast promoted ALT on social media platforms before the crash, encouraging thousands of investors to buy into the token. Subsequently, he denied any involvement in the scheme and attempted to distance himself by publishing an analysis that aimed to disprove his role in the collapse.

However, ZachXBT’s investigation revealed a public wallet belonging to Crypto Beast that funded multiple “sniper wallets.” These accounts rapidly accumulated a substantial share of ALT’s supply before executing massive sell-offs, which triggered the abrupt price drop.

Funds were distributed discreetly through exchanges like KuCoin, Binance, HTX, and Sideshift to avoid detection. This is not an isolated incident; ZachXBT has also identified Crypto Beast as being involved in similar fraudulent pump-and-dump operations with other tokens such as ALPHA, RICH, YE, RUG, ACE, and JOHN.

The investigation highlights a concerning pattern: the influencer inflates expectations, promotes the token, then sells off his holdings, causing steep price declines and losses for retail investors.

Source: crypto-economy.com