Key Highlights
- Crypto Beast, accused of dumping $11M in $ALT tokens, returns under a new X handle.
- ZachXBT traced 45 wallets traced to Crypto Beast.
- Crypto Beast’s new X handle sparks debate on crypto ethics and regulations.
The crypto world is shocked as Crypto Beast, a popular influencer with nearly 800,000 followers, came back to X (formerly known as Twitter) and changed their username to @realcryptoelio. This comes after a major scandal where the influencer was accused of manipulating the market and causing the $ALT token to crash. This news was reported and uncovered by ZachXBT, a well-known on-chain investigator.
The Scandal Unfolds
On July 14, 2025, the price of the ALT token, which was being heavily promoted by Crypto Beast, crashed from $0.19 to $0.003 in just a few hours. This indicated a 97% drop in its price and this sudden fall wiped out over $190 million in market value.
According to on-chain investigator, ZachXBT, 45 different crypto wallets were linked to Crypto Beast. All of the wallets somehow sold the token at the same time during the crash. Together, all of these 45 wallets sold over $11 million worth of ALT tokens.
Before the crash, the ALT token did not have a huge trading volume, which means that not many people were buying or selling it regularly. For such tokens, when too many people sell the token at once, it can easily crash the price quickly.
In this case, the wallets that Crypto Beast owned accounted for 3% of the total ALT tokens that existed. This 3% is a huge amount for a small token like ALT. So when the influencer sold all of these tokens at the same time, these tokens flooded the market. Since there were not enough buyers, the price of the token crashed.
How the Manipulation was Traced
Crypto Beast talked a lot about the token and was practically promoting the token on a great scale. On social media, the influencer once shared a Celestia wallet address ( a kind of crypto account) linked to him. Even though he later deleted the post, the data was out in the public. Between May and July 2025, the wallet he shared online was used to send money to other smaller wallets. These transfers were done through well-known crypto platforms such as Binance, KuCoin, HTX and Sideshift.
However, on July 14 2025, those smaller wallets sold a huge amount of $ALT tokens all at once within a few minutes. It was a perfectly planned and coordinated sell-off. This caused the token price to crash.
ZachXBT looked at the transaction history and he was able to link all the wallets back to the one Crypto Beast originally shared. So he showed that all the selling was likely connected to Crypto Beast himself.
Not only did the influencer make money from these sales, but when people started panicking, he tried to avoid the entire blame. He said that the price crash was caused by the big traders and not him. After the crash, the influencer had deactivated his account for a short period of time and now he is back online with a new username which is @realcryptoelio on X.
Why Does This Matter?
This is not just an internet drama but it is a great reminder of how risky it can be when influencers push crypto tokens. In this case, one person’s secret sell-off wiped out nearly $190 million in value. Retail investors, who trusted the hype were left with almost nothing. It shows how quickly things can go wrong when crypto promotions are not honest.
The influencer changing their username might seem small, but it is actually a big deal. It makes it harder to trace their old posts and disconnects them from the $ALT token crash scandal. This can confuse followers, especially new ones, and help the influencer rebuild trust or start new promotions under a new name. It also looks like a way to avoid blame, hide their past and move ahead.
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