A few hours ago, Erik Bergman lost $1.25 million after falling for a fake crypto insider project tied to a scammer impersonating MrBeast.

The scammers managed to build trust through a fake WhatsApp group filled with other impersonated billionaires and influencers before luring him into a fraudulent “early access” Coinbase token investment.

Since the advent of cryptocurrency and the introduction of memecoins, investors are always advised to do their due diligence before putting in any amount of money (both little and significant amounts) into cryptocurrency.

However, as memecoin investing continues to grow and saturate in the crypto space, influential figures from sports, crypto, social media, and even entertainment continue to stand at the forefront of memecoin trading and investing, indirectly deciding the tokens to buy and those that would “dump.”

A few hours ago, Erik Bergman, a serial entrepreneur, lost about $1.25 million chasing what he believed was insider information from popular YouTube guru MrBeast.

Also Read: PUMP Explodes After Triangle Breakout, Could Hit $0.004 Soon

How He Was Scammed Through the Fake Crypto Project

A few days ago, Mr.Beast launched a charitable donation that was aimed at helping people in Africa get clean water. And according to Erik’s detailed explanation, he was called upon to help provide financial support. A few days later, he was added to a WhatsApp group with supposed billionaires, influencers, and streamers.

Source: Erik Bergman (X)

According to him, the conversations that were shared there felt real, as they exchanged banter, which, now looking back, was probably done to help build trust. Once the scammer knew that he had secured the entrepreneur’s trust, they quickly introduced the fake opportunity.

According to the details, they claimed that MrBeast had secured an early partnership with Coinbase to launch a new token, and as a reward for top donors, there was early access made available.

To make the offer more believable, they tried to create urgency and secrecy around the project. Although the details shared showed a lot of warning red flags, the victim ended up transferring about $1.25 million worth of crypto with several transactions, believing he was investing alongside billionaires and celebrities.

Also Read: $5 Billion in Ethereum Shorts Face Liquidation Risk if ETH Hits $5,500

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Filed under: Bitcoin - @ August 30, 2025 3:11 pm