Trader and crypto influencer Crypto Beast is under accusations of market manipulation concerning the ALT token, leading to a significant crash in its value.
Overview of the ALT Token Situation
Blockchain security investigator ZachXBT published research detailing the events leading to ALT's crash. On July 14, 2025, the token lost over 97% of its value following an active promotional campaign by Crypto Beast.
Manipulation Scheme and Its Consequences
ZachXBT reported that Crypto Beast promoted the ALT token on various platforms shortly before its collapse, with over 45 connected wallets liquidating more than $11 million. The token's market capitalization dropped from $190 million to just $3 million.
Reactions and Further Actions
Following the investigative report, Crypto Beast deleted his account. ZachXBT mentioned this is not the first instance of Crypto Beast being suspected of influential token manipulation, citing several other altcoins involved in similar schemes.
The situation with the ALT token highlights the risks associated with cryptocurrency investments and the need for investor caution.
