Crypto Beast Involved in ALT Token Crash

ZachXBT, a prominent independent researcher in the cryptocurrency space, has alleged that the phenomenon known as “Crypto Beast” was central to the recent Altcoin (ALT) token crash that occurred earlier this month.

Wallets Linked to the Crash

According to an analysis by ZachXBT, Crypto Beast is tied to over 45 wallets that played a crucial role in the ALT price decrease observed on July 14, 2025. The ALT token’s market value dropped dramatically from $190 million to just $3 million as the 45 wallets sold their holdings, yielding over $11 million in profits.

Promotions and Impact

ZachXBT noted that Crypto Beast began aggressively promoting the ALT token via social media platforms like X (formerly Twitter) and Telegram at the start of the month. A technical analysis indicated that the implicated wallets were connected to wallets previously disclosed as associated with Crypto Beast.

Transaction Investigation

The probe uncovered that transfers to these wallets were financed via small amounts sent to various exchanges (including KuCoin, Binance, and HTX) through a Celestia address. Timing analysis linked these transactions directly, indicating that the Celestia address funded all wallets that executed sales on July 14.

Response and Allegations

Following the incident, Crypto Beast deleted all promotional posts on X and Telegram, denying the allegations leveled against him. ZachXBT pointed out that the influencer has a history of involvement in similar scams, including “pump and dump” schemes tied to tokens such as ALPHA, RICH, and YE.

Future Concerns

ZachXBT reported that Crypto Beast temporarily deactivated his X account but has been regaining followers through small giveaways. The researcher expressed concern about the influencer’s potential for future scams, urging the X platform to suspend accounts linked to repeated fraudulent activities. He remarked that the individual behind the token or a close associate would be the only ones able to acquire such a high supply of the promoted token.

Despite the allegations, Crypto Beast’s X account was deactivated once again, but it may be reactivated soon by changing its username.

*This is not investment advice.