Andrew Tate Faces $3M Crypto Pump-and-Dump Allegations Following Rumble Livestream
3 min read
Andrew Tate, a polarizing online figure, is under fire after accusations surfaced alleging that he orchestrated a $3 million cryptocurrency pump-and-dump scheme during a Rumble livestream on November 21, 2024. The claims, which have gone viral on social media, have sparked heated discussions about influencer-driven crypto scams.
The controversy gained traction on December 11, when X user @holdandstfu posted a detailed thread accusing Tate of manipulating cryptocurrency markets for personal gain. The thread, which has amassed over a million impressions, presented screenshots and other evidence claiming Tate and his team deliberately inflated the value of certain coins before selling them off at a profit—leaving many of his followers with financial losses.
Andrew Tate SCAMMED his community AGAIN
— FrogFiend (@holdandstfu) December 11, 2024
He made over $3,000,000 during his live stream.
And went to make motivation videos like nothing happened.
Here’s the truth he doesn’t want you to know🧵👇 pic.twitter.com/V8US1qHBZd
The Alleged Scheme
According to @holdandstfu, the alleged scam followed a carefully orchestrated plan. Tate supposedly used his Rumble livestream to encourage his fans to invest in specific cryptocurrencies. This surge in interest and buying activity inflated the coin’s value. Once the value peaked, Tate allegedly sold off his holdings, pocketing significant profits while the value of the coin plummeted, leaving his followers in the lurch.
The X thread outlined the alleged strategy step by step:
Tate’s team would craft a compelling narrative to convince viewers to invest.
A token was deployed on a platform like @pumpdotfun, and his team secured a large portion of the supply.
↛ 7 First Scam Example
— FrogFiend (@holdandstfu) December 11, 2024
8wR5u3XET9rbwE5XRfSmAGdpPXs2Je7dsKDgS62Kpump
This memecoin was heavily shilled by Tate right after its creation.
He claimed to have spotted the “funny ticker” and decided to pump it.
But here’s the truth:
The developer's wallet and all initial buyers… pic.twitter.com/PRfGdZq1Av
Tate would receive a heads-up moments before the stream to prepare for the live “pump.”
As fans began buying in, Tate and his team would “dump” their holdings at the inflated value.
Screenshots of wallets purportedly linked to Tate were shared by the accuser, claiming one wallet alone generated $1 million in profit from a single coin during the alleged scheme.
Community Reaction
The allegations have sent shockwaves through social media, with many criticizing Tate for betraying the trust of his followers. The controversy is compounded by Tate’s previous public statements against cryptocurrencies and meme coins, which makes the accusations even more jarring.
This is not the first time Andrew Tate has been embroiled in cryptocurrency-related controversies. Earlier in 2024, YouTuber Coffeezilla accused Tate of engaging in dubious crypto dealings and attempting to silence critics through intimidation.
↛ 8 Quick Math
— FrogFiend (@holdandstfu) December 11, 2024
Take a look at the Top Traders bar on Photon.
Each of these wallets profited between $100,000 and $250,000.
They strategically made large initial buys to push the token onto Raydium.
After investigating the connections between these wallets, the results were… pic.twitter.com/sGN6ELCOFF
Tate’s alleged pump-and-dump scheme highlights a growing issue of influencer-driven crypto scams. Prominent creators like MrBeast have also faced scrutiny, with allegations of insider trading and profiting millions from cryptocurrency transactions. These incidents raise questions about the ethics of influencers leveraging their platforms for financial gain at the expense of their followers.
As of now, Andrew Tate has not publicly addressed the allegations. The accusations serve as a reminder for investors to exercise caution and thoroughly research before trusting influencers with financial advice, particularly in the volatile world of cryptocurrency.
Shivam Kumar
Hi, I'm Shivam Kumar. I'm pursuing Journalism honors from the IP University. I love the skill of writing and looking forward to learn more of it. Also I love traveling and experiencing new things every day....
