Scammers are taking advantage of popular YouTuber MrBeast’s fame and fortune to create elaborate crypto giveaway scams on TikTok. They are promoting fake websites and videos that promise users massive profits if they use a promo code to claim free cryptocurrency. However, these promo codes and giveaways are completely fake, designed to steal money and cryptocurrency from victims.
This article will provide an in-depth overview of how these MrBeast crypto promo code scams work, what techniques scammers use, and most importantly, how to avoid falling victim. With cryptocurrency on the rise in popularity and value, it’s no surprise that cybercriminals are finding new ways to capitalize on people’s FOMO (fear of missing out) and greed. Awareness and caution are key to protecting yourself from these sophisticated social media scams.
This Article Contains:
An Overview of the MrBeast Crypto Promo Code Scams
Jimmy “MrBeast” Donaldson has become one of the most popular YouTubers and philanthropists, known for his expensive stunts and massive giveaways. He has over 111 million YouTube subscribers and is estimated to be worth $25 million.
Scammers have noticed his fame and fortune, using his likeness and brand without permission to create fake crypto giveaways. Here’s an overview of how the scams work:
- Scammers create TikTok videos featuring MrBeast and screenshots of a fake website or app that appears to be affiliated with him.
- The videos claim that MrBeast is giving away free crypto worth thousands of dollars to promote a new trading platform or crypto project.
- To claim the giveaway, viewers must visit the website and enter a promo code such as “MRBEAST1000” to receive 100,000 USDT or 10 ETH.
- The videos feature fake testimonials of people who supposedly earned massive profits using the promo code.
- When victims visit the fake website and attempt to use the promo code, they are prompted to deposit their own crypto into the scammers’ wallet to cover “gas fees”, “activation charges” or “network costs”.
- After sending crypto deposits worth hundreds or thousands of dollars, victims find they are unable to withdraw any funds or profits.
- Scammers block victims who attempt to reach customer support. The fake sites eventually disappear once the scammers have conned enough people.
- Scammers repeat the process under different accounts and websites to promote the same fake MrBeast crypto giveaways to new victims.
These tactics leverage MrBeast’s trusted reputation and promise of free money to manipulate viewers into sending their own crypto funds, which of course disappears into the scammers’ wallets.
How the MrBeast Crypto Promo Code Scams Work
Scammers rely on smart psychological tactics and convincing social proof to make their MrBeast crypto promo code scams seem legitimate. Here are the key stages of how they execute these giveaway scams from start to finish:
1. Creating Fake Affiliation With MrBeast
The scammers start by making social media accounts on platforms like TikTok and YouTube using MrBeast’s name and branding without permission. They use profile pictures of MrBeast and tweak channel names to appear affiliated, often using “Official”, “MrBeastX” or “BeastCoin”.
These accounts are used to share forged photos of MrBeast holding crypto logos or standing beside luxury cars and mansions to imply he earned massive wealth through crypto trading. Scammers also use fake screenshots of websites featuring MrBeast’s quotes praising crypto trading profits.
This fakes affiliation is aimed at manipulating MrBeast’s fans into trusting the giveaways are real and endorsed by MrBeast himself.
2. Promoting Fake Crypto Giveaways
The scammers then create TikTok videos, YouTube shorts, tweets, and Facebook ads promoting a massive fake crypto giveaway in MrBeast’s name.
The videos feature urgent messaging like “MrBeast gifted me 1 whole BTC! Use the promo code below to claim your own giveaway now before the 500k limited supply runs out!”.
Scammers often claim there is only a short time left to claim your profits, creating false urgency and FOMO.
These videos feature stolen footage of MrBeast interspersed with screenshots of a fake website or app that looks professionally designed.
Influencers may be paid or tricked into sharing the scam giveaway posts with their audiences to gain more reach. Using multiple platforms like YouTube, TikTok, Twitter and Telegram creates the appearance that the giveaway is viral and legitimate.
3. Directing Victims to Fake Websites
The promotional videos and posts all include a custom promo code such as “BEASTPROMO500” and direct viewers to visit the fraudulent website to claim their offer.
The fake website features more videos and testimonials reinforcing the legitimacy of the giveaway. Scammers use stock photos of happy people holding crypto wallets or showing off luxury items they supposedly earned by using the promo code.
Fake countdown timers, visitor counters, and cryptocurrency prices create an urgent atmopshere to encourage victims to act fast before losing out.
4. Collecting Victims’ Crypto Deposits
When victims attempt to use the promo code, they are prompted to first send a “small” crypto deposit to the scammers’ wallet to cover gas fees, network costs, account activation, trading bonuses, or transaction fees.
The websites make these fees seem insignificant, often less than $100 worth of crypto. However, if 1,000 people deposit $50 of Ethereum each, that’s $50,000 for the scammers already.
After submitting a deposit, victims receive fake confirmation messages thanking them for verifying their wallets and activating bonuses. But in reality, they just sent their own crypto into the scammers possession.
5. Disappearing Acts
Once the victims’ deposits are secured in the scammers’ crypto wallets, any further communications get ignored or blocked. Depositors soon find they are unable to access or withdraw any of the promised profits or promo crypto funds.
The fake websites start glitching and going offline making it impossible for victims to reach customer support.
Scammers quickly move on to repeat the entire process with new websites and TikTok accounts, targeting a fresh batch of unaware victims.
Stolen crypto deposits are converted into fiat currency and cashed out before victims can sufficiently expose the scam publicly.
6. Covering Their Tracks
Sophisticated scammers cover their tracks by:
- Using anonymous cryptocurrency wallets and stolen personal data to register accounts.
- Operating across international borders to avoid law enforcement in a single jurisdiction.
- Quickly shutting down websites and social media accounts after executing scams to erase evidence.
- Creating new accounts and websites regularly to stay ahead of exposures.
- Paying hackers and technicians to keep hacking tools, infrastructure and operations secret.
- Mixing and tumbling cryptocurrency through multiple wallets to disguise the money trail.
Their techniques make it extremely difficult for authorities to track the scammers down or recover stolen funds once deposited.
How to Spot MrBeast Crypto Promo Code Scams on TikTok
Here are some red flags to watch out for to avoid falling victim to fake MrBeast crypto giveaways on TikTok:
- The TikTok account promoting the giveaway has a username impersonating MrBeast like “MrBeastOffical” or “BeastCoin” instead of his verified @MrBeast account.
- The video uses stolen footage of MrBeast mixed with unrelated crypto/blockchain branding and platform screenshots.
- There are urgent calls to act fast to claim your profits and inventories are limited to create false scarcity.
- The promo code provided is very generic like “BEAST1000” instead of a real unique referral code.
- The website linked has a non-professional looking domain name ending in “.co” or riddled with random numbers/letters.
- There are fake 5-star reviews, unrelated celebrity photos, and no clear company branding or history on the giveaway website.
- To use the promo code you have to deposit your own crypto first instead of getting free funds directly.
- Customer service contacts like live chats, emails, and phone numbers don’t work or don’t exist.
- The platform requires excessive personal/KYC data for an alleged giveaway like selfies holding IDs.
- MrBeast himself has not promoted the giveaway on any of his verified accounts or in a YouTube video announcement.
Always thoroughly vet any giveaways you come across on TikTok to ensure they aren’t imitating MrBeast’s brand and likeness. If you spot any of these red flags, avoid the scam entirely and report the accounts spreading it.
What to Do if You Have Fallen Victim to a MrBeast Crypto Promo Code Scam
If you have fallen prey to one of these MrBeast TikTok crypto promo code giveaway scams, here are the important steps you need to take right away:
1. Report the Scam Accounts and Websites
- Report the social media accounts you saw promoting the scam giveaway to TikTok, YouTube, Twitter, Facebook etc. to get them taken down quickly. This helps limit their reach.
- Submit the fraudulent website URLs to cybersecurity threat platforms like PhishTank so they can be blacklisted. The more reports, the faster they’ll be blocked.
- Report stolen/fake imagery misusing MrBeast’s brand to his legal team via his official website. This can help with takedowns.
2. Contact Your Bank and Crypto Exchanges
- Call your bank and any cryptocurrency exchanges you used to submit deposits. Inform them it was an unauthorized transfer due to fraud. Ask to reverse any purchases of gift cards or money transfers if caught fast enough.
- Block the cryptocurrency wallet addresses that received your deposits through your crypto exchange account. This can prevent the scammers from cashing out your specific funds.
- Change your account passwords and enable two-factor authentication for added security on banking and crypto exchange accounts.
3. Get Law Enforcement and Legal Help
- File reports about the scam with local police, FBI Internet Crime Complaint Center (ic3.gov), and FTC to aid investigations. Provide all details of how the scam occurred and any wallet addresses, accounts, screenshots etc.
- Consult with an attorney specializing in cryptocurrency fraud about legal options. They can send civil subpoenas to identify and prosecute specific scammers. You may be able to join class action lawsuits.
- Contact an asset recovery service specializing in tracing cryptocurrency to potentially track down where your stolen deposits ended up. This becomes very difficult but can help in some cases.
4. Monitor Your Compromised Information
- Since scammers gathered personal information from you like addresses and IDs, monitor your credit reports and financial accounts closely for identity theft.
- Enable credit freezes if recommended and create alerts for any suspicious activity. Be vigilant about further phishing attempts.
5. Warn Others about the Scam
- Post about your experience on social media to spread awareness about the MrBeast crypto promo code scam. Describe the red flags you missed and what you lost to educate others.
- Report the scam lists/forums to prevent more victims. Legitimate giveaways won’t require you to send crypto funds first.
- Contact influencers who promoted the scam (whether knowingly or not) to have them remove posts and address why victims should be wary. Prevent further spread.
Here is a FAQ section covering common questions about the MrBeast crypto promo code scams:
Frequently Asked Questions
Is MrBeast really giving away free crypto by using a “promo code”?
No, any giveaways with promo codes promising free cryptocurrency from MrBeast are fake. MrBeast has never endorsed or announced such giveaways on TikTok, Facebook, Instagram, or any other platform.
Can the promo codes go viral on TikTok really make me rich?
No, these codes are fabricated as part of elaborate scams to steal cryptocurrency deposits from victims. No one will profit from them.
I used a promo code and can see huge profits in my account’s dashboard, is that real money I have?
Unfortunately no, the websites are designed to falsely display profits from using promo codes to trick visitors. No actual trades take place and no money is deposited into your account from the codes.
Why do scammers use MrBeast’s name and likeness for these crypto cons?
MrBeast’s fame and reputation for giving away money make him an ideal figure to fake endorse crypto giveaways. His fans are the target victims scammers aim to manipulate.
Can I get my money back if I fell for one of these promo code scams?
It is very unlikely. Scammers quickly withdraw and launder victims’ crypto deposits into untraceable cash. Recovery may only be possible if caught extremely quickly before withdrawals.
Is it illegal to create fake promo code scams pretending to be MrBeast?
Yes, using someone’s likeness and brand without consent to defraud people is illegal. However, most scammers operate across borders anonymously making arrests very difficult.
Who should I report MrBeast crypto promo code scams to?
Report social media accounts to their platforms, website URLs to cyber threat sharing platforms, stolen brand usage to MrBeast’s legal team, and details to the FTC, FBI, and police.
How can I avoid falling for such scams in the future?
Learn the warning signs of scams asking for upfront deposits or crypto payments. Always independently verify giveaways on official sites and never believe urgently hyped opportunities.
The Bottom Line
The MrBeast crypto giveaway scams sweeping TikTok and social media are a grim reminder that if an investment opportunity seems too good to be true, it likely is. The promise of guaranteed massive profits and free cryptocurrency in a promo code should raise alarms.
No matter how convincing the social proof tactics like fake testimonials or fraudulent websites may seem, no one is just giving away millions in free crypto. Any promoter requiring an upfront “investment” or “fee” to access prizes is a scammer fishing for victims.
Avoiding falling for digital cons requires always thinking critically about investment opportunities promoted online or on social media. Take time to research sites, offers, and promoters before ever sending funds anywhere. Talk to crypto experts to assess if giveaways have credibility or not.
With cryptocurrency promoting stories of instant wealth, it’s no surprise scammers leverage this hype for nefarious purposes. But a dose of skepticism and vigilance can protect you from ending up on the losing end. Use this overview of the MrBeast TikTok crypto promo code scam as guidance to identify the techniques of social media fraudsters.
