ALT tokens return to zero in four hours, Crypto Beast's 10 million dollar harvesting bureau

Original author: Fairy, ChainCatcher

Original editor: TB, ChainCatcher

Another trading scandal has surfaced, this time with Crypto Beast.

A big KOL with nearly 800,000 followers is shouting orders to create momentum while pulling, shipping, and harvesting.

On July 14, Crypto Beast's promoted token Altcoin (ALT) plummeted from $0.19 to $0.003, wiping out nearly $190 million in market value in just a few hours, and 45 wallets associated with him on the chain sold off simultaneously, cashing out a total of more than $11 million.

This article will review the complete process of this harvest event and reveal the truth behind it.

ALT Crash: Crypto Beast's Manipulation Mystery

From skyrocketing to plummeting, it took only five days. On July 9, Crypto Beast began to intensively promote ALT on X and Telegram. He described the token as the "next hundredfold" and "multi-billion dollar market cap potential," with a gradual pull-up rhythm that constantly creates FOMO sentiment in the market.

On July 12, the pull action accelerated significantly, and in just two days, $ALT skyrocketed from $0.039 to $0.19, a nearly 4x increase, attracting more retail investors to flock in.

On July 14, the harvest officially began. In just 4 hours, $ALT cascaded to $0.003, a whopping 94% drop, almost zero.

Source: coingecko

On-chain detective ZachXBT conducted an in-depth investigation and uncovered the true face of the entire operation through a wallet address previously disclosed by Crypto Beast.

The wallet was initially funded through an instant exchange. ZachXBT further conducted a time-correlation analysis of the fund flow path, ultimately tracing it to a key Celestia address:

celestia1chflqywwp0k8rjzgp3w4447fquyk9ynnc6zws5

The investigation revealed that the address had sent small amounts of funds to multiple instant exchange platforms (such as KuCoin Nested, SideShift, Binance Nested, HTX Nested, etc.) between May and July 2025 to fund "side wallets".

These side wallets are not unrelated accounts, but "bundled wallet clusters" that ZachXBT has confirmed through on-chain analysis. They simultaneously sold $ALT on July 14, cashing out more than $11 million in total.

Here is the table of instant swap transactions for Celestia to Solana that it identified through time analysis:

In addition to these 45+ wallets highly tied to Crypto Beast funds, there is also an independent "sniper cluster" that has sold more than $2.6 million, which is related to the $ALT deployer. But in terms of influence and funding scale, Crypto Beast seems to be the protagonist.

Presently. There are still multiple wallets related to Crypto Beast holding more than 89 million $ALT, accounting for about 10% of the total supply. After the incident, Crypto Beast has deleted tweets promoting ALT and logged out of their X account.

ZachXBT pointed out that this is not the first time Crypto Beast has done this, as he has used a similar "bundled pull-out cash-out" model in many previous projects, including $ALPHA, $RICH, $YE, $RUG, $ACE, and $JOHN, and many early followers have suffered heavy losses as a result.

KOLs who "collapsed" in those years

Crypto Beast's approach is not an isolated case, but a microcosm of the "trading script" that is common in the Web3 world.

With a huge number of fans and influence, KOLs can often easily set off a round of hype, but behind the scenes, they may be deeply bound to the deployer and initial coin holders, quietly sweeping away retail investors.

In the past few years, ZachXBT has revealed several similar harvesting cases:

BitBoy (Ben Armstrong): A well-known crypto YouTuber who has been charging "soft fees" for projects for a long time to promote Air Coin and Altcoins, and has promoted runaway tokens such as MYX, DISTX, ETHY, LOCK, etc.

Logan Paul: A well-known influencer boxer who used his wallet to buy low-priced tokens or NFTs in advance, and sold them at a high price after promoting them on social media.
Lark Davis: 1.4 million followers, frequently recommending low-cap projects to fans, followed by rapid sell-offs, including tokens such as SHOPX, DOWS, UMB, etc.

Laurent Correia: A well-known French Internet celebrity and reality TV star, he operates the NFT project "Billionaire Dogs Club" and runs away as a team within a week of release.

The tragic collapse of ALT to zero within four hours is just an "ordinary" "cutting leeks" script in the Web3 world.

Projects can collapse, characters can collapse, but lessons must be remembered.