Crypto Beast Rebrands After $ALT Crash Exposed by ZachXBT
Crypto Beast, a crypto influencer with 800,000 followers, has returned to X under the handle @realcryptoelio following accusations of orchestrating a pump-and-dump scheme that triggered a 97% crash in the ALT token. On July 14, 2025, on-chain investigator ZachXBT mapped 45 wallets linked to Crypto Beast, revealing a coordinated sell-off of $11 million in ALT tokens—about 3% of total supply—which sank the token price from $0.19 to $0.003 and wiped out $190 million in market value. The ALT token crash exposed the dangers of market manipulation: the influencer had heavily promoted the token and shared a Celestia wallet that funneled sales through Binance, KuCoin, HTX and Sideshift into smaller accounts. Crypto Beast initially blamed "big traders" after deactivating his account. His rebranding as @realcryptoelio risks obscuring his past. The episode underscores the volatility of influencer-driven crypto trading and the need for rigorous due diligence.
Bearish
This incident is bearish for the crypto market as it undermines investor confidence in influencer-driven tokens and heightens scrutiny of altcoin promotions. The 97% crash in the ALT token and $190 million wiped out in market value will prompt traders to exercise greater caution, reducing short-term trading volumes in similar tokens. Historical pump-and-dump schemes have led to increased volatility and regulatory discussions, which can discourage speculative capital inflows. In the long term, markets may demand stricter transparency and due diligence, potentially dampening rapid altcoin growth driven by social media hype.