$ALT Market Cap Plummets 98.4% as Pump-and-Dump Scam Uncovered by Blockchain Investigator

In one of the most audacious cryptocurrency frauds of 2025, an online figure known as "Crypto Beast" has been implicated in a $190 million pump-and-dump scheme involving the altcoin $ALT. The scam, which saw the token’s market cap collapse from $190 million to $3 million in hours, has been meticulously unraveled by blockchain investigator ZachXBT. The fallout has left thousands of retail investors reeling as evidence points to a coordinated exit by 45+ insider wallets, with the mastermind seemingly disappearing into the ether.

The scheme began with a calculated campaign to hype $ALT across social platforms. Crypto Beast positioned the token as a “next big gem,” using chart-heavy posts and promises of 100x returns to lure traders. The strategy worked—until July 14, 2025, when the price plummeted from $0.19 to $0.003 within hours. The collapse triggered panic, with investors scrambling to offload their holdings as the market cap cratered.

ZachXBT’s onchain analysis revealed a trail of transactions linking the crash to Crypto Beast. Over 45 insider wallets, each dumping over $11 million worth of $ALT, were traced back to a single Celestia node address. This node, which funded all the dump wallets between May and July 2025, was publicly associated with the scammer in earlier posts. The blockchain exposed a network of exchanges—including KuCoin, Binance, and HTX—used to route funds through nested wallets before the crash.

Despite deleting accounts and disclaiming responsibility, the scammer’s digital footprint remained intact. Blockchain records showed that Crypto Beast’s wallet, ledzo5cdS1RYfX4h391fYC8TF6xkwAC8U77F2pCaH4L, funneled funds through a web of addresses before the dump. Notably, the scammer still holds 89 million $ALT tokens—roughly 10% of the total supply—raising concerns about further market manipulation.

This is not the first time Crypto Beast has allegedly pulled off such a scheme. Historical data reveals similar patterns with tokens like $ALPHA, $RICH, and $JOHN. The playbook remains consistent: hype, pump, dump, delete, and reemerge under a new identity with a “stealth launch” or “undervalued gem.” The crypto community now braces for a potential repeat, with ZachXBT emphasizing that blockchain transparency makes such schemes increasingly traceable.

The $ALT debacle underscores the risks of FOMO-driven trading and the importance of scrutinizing onchain activity. ZachXBT’s investigation highlights how public ledgers can expose even the most sophisticated frauds, though retail investors remain vulnerable to manipulation. As the industry grapples with the fallout, the message is clear: hype should never outweigh hard data in altcoin trading.