Rumors allege that popular YouTuber, MrBeast, has been scamming fans through the Refinable launch. The allegations come as a surprise to many, with MrBeast being a famous philanthropist in his own right. It seems unlikely that any of these allegations are true, so we're here to sit down and take a look at exactly what is about the MrBeast Scam claims, and how likely they are to be true.
The current rumors allege that after the launch of a new cryptocurrency app, Refinable, they could not sell the currency. In addition, users were apparently unaware that the purchase price would be $9USD, as it was advertised at a different price. MrBeast is an investor in Refinable, and thus it is alleged that he is scamming fans.
Alright, look. This is a little complicated, so I am going to break it down in terms that make sense to me – hopefully that helps you understand it too!
What is Refinable?
Refinable is an NFT product – non-fungible product – launched by Binance, as well as MrBeast. In essence, what the product allows you to do is purchase cryptocurrency. Now, look. It's complicated, stuff about Binance Smart Chain, and a bunch of other stuff that won't really be explainable here. Instead, let's just say that Refinable is a new application, users put money into it, and it is currently not providing them with the service that they have paid for.
What is the Problem With Refinable?
Refinable allegedly launched at a much higher price than advertised, before instantly crashing. Users were apparently unable to sell when the app launched. Look, we really are not financial experts, this is a gaming website! Keeping that in mind:
- Refinable was supposed to launch at $0.33 USD.
- Refinable allegedly launched at $4 USD.
- Refinable's price quickly climbed to $9 USD.
- Refinable then crashed to $2 USD.
- People are angry and have lost a lot of money.
Yes, this was a simple breakdown. Are you interested in this kind of thing? Well, check out Def Noodle's breakdown...
How is MrBeast Involved in Refinable and Cryptocurrency?
MrBeast is listed as one of the main investors in Refinable, along with Binance Smart Chain. He has not made any public statements on this, so it could be untrue - especially if Refinable turns out to be a scam. As of writing, it is unclear what MrBeast's role is.
Did MrBeast Scam Fans?
There is no evidence to suggest that what has happened was intentional, and there is no evidence to suggest that MrBeast invested in Refinable to scam fans and users. So, we think that it is very unlikely that any of these allegations will turn out to be true. Thus, we have to say the following: everything that has been discussed on Twitter are simply allegations. Unproven, and yet to be founded.
If an allegation is yet to be proven, then that allegation should not be considered a fact. The Refinable launch may have been a disaster – that much is inarguable – but that doesn't mean that it was necessarily meant as a scam, or that MrBeast wanted to scam people. We'll update this article if more things come out, but as of now, we have one piece of advice:
Guys, seriously. Enough with the cryptocurrency. Get a job, don't gamble, be responsible.
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