Andrew Tate accused of scamming his community of $3 million with crypto pump and dump on Rumble stream

Andrew Tate's cryptocurrency-related Rumble livestream on November 21, 2024, has caused many to accuse him of earning $3 million by scamming his community with a pump and dump. Social media posts alleging that Tate manipulated the market for profit have gone viral.

On December 11, 2024, @holdandstfu posted a thread on X, accusing Andrew Tate of using a pump and dump scheme on a couple of cryptocurrencies. The post has garnered a million impressions at the time of this writing. The X user provided screenshots to back up the claim, alleging that Tate and his team orchestrated the scam and made over $3 million from his community while livestreaming on Rumble.

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X user claims this is how Andrew Tate and his team orchestrated a cryptocurrency pump and dump on his community

Allegations of cryptocurrency scams have increased in recent years, with many big online personalities being accused of using their fame to manipulate people and make money. Only a couple of months ago, popular YouTuber MrBeast made headlines after he was accused of profiting off of insider trading and making a whopping $23 million in the process.

Readers should note that Andrew Tate has previously talked against cryptocurrencies and meme coins, which is why the allegations of pump and dump against him have struck a chord with many people online. In his thread, @holdandstfu alleged that Tate purchasing specific coins while livestreaming on Rumble led many of his fans to do the same, increasing the cryptocurrency's value.

In a subsequent post in the thread titled "Scam Concept", @holdandstfu alleged that with buyers inflating the cryptocurrency's value, Andrew Tate proceeded to "dump" the coin and make hundreds of thousands of dollars, while many of the other buyers saw the value decrease.

"Before going live, his team carefully planned the following strategy: - Craft an appealing narrative to lure Tate into aping live, ensuring it seemed legitimate. - Deploy a token on @pumpdotfun and secure a significant portion of the supply. - Give Tate a heads-up just seconds before the stream. - Dump the token hard the moment his subscribers started buying in." wrote @holdandstfu.

The X user also provided a screenshot of the alleged wallets that are supposedly linked to Andrew Tate which profited off the alleged pump and dump scheme. @holdandstfu further claimed that Tate made about $1 million in profit from a single coin.

This is not the first time that Andrew Tate has faced allegations regarding shady cryptocurrency dealings. Earlier this year (2024), YouTuber Coffeezilla accused Tate of doxxing him and refusing to answer his questions about his investigation into Tate's supposed cryptocurrency transactions.