Entrepreneur Loses $1.25 Million in Fake Coinbase Crypto Scam Involving MrBeast
Erik Bergman, a prominent Swedish entrepreneur known for his work in the online gaming affiliate sector, recently disclosed a major financial loss due to a targeted cryptocurrency fraud. Following his genuine one million dollar contribution to Team Water, a clean water initiative supported by popular YouTuber MrBeast and inventor Mark Rober, Bergman became the focus of a detailed deception. The fraudsters reached out to him via WhatsApp, pretending to represent the charity and extending an invitation to an exclusive African trip for top donors, which initially seemed like a natural extension of his involvement.
Bergman built his fortune through co-founding Catena Media, which went public in 2016 and reportedly netted him around $50 million before age 30. He later established Great.com, a venture that directs earnings from domain investments and affiliate marketing toward evidence-based charitable efforts. This background in business and philanthropy made him an appealing target for scammers who capitalized on his recent high-profile donation to build credibility.
The scam began shortly after Bergman’s donation was publicized by MrBeast on social media, creating a sense of legitimacy around subsequent communications. The fraudsters added him to a WhatsApp group that mimicked interactions among influential figures, including fake profiles of MrBeast, Mark Rober, billionaires such as Eddie from Stake and Tobi Lütke, and streamer Adin Ross. Over the course of a week, the group engaged in light-hearted exchanges and talks about future charity projects, fostering a false sense of community and trust.
As the conversations progressed, the impostor posing as MrBeast introduced a supposed secret investment in a new cryptocurrency tied to Coinbase, one of the leading exchanges in the industry. This opportunity was framed as a special perk for donors who had given over one million dollars, with an emphasis on its limited availability and the need for swift action. Bergman, who admitted to limited expertise in crypto, felt pressured by the apparent excitement from the group and decided to participate despite being preoccupied with a personal retreat.
The Crypto Scam Escalates and Unravels
The investment was structured in rounds with increasing prices, starting at $0.15 per coin for the first phase, where Bergman transferred $500,000 in cryptocurrency to a designated wallet. The scammers maintained momentum by having fake participants express enthusiasm and urgency, simulating peer influence among supposed experts and celebrities. This tactic played on Bergman’s desire to fit in, leading him to consult a friend who reinforced the idea that early access to a Coinbase-linked coin represented a strong prospect.
In the second round, the price rose to $0.30 per coin with a cap of $750,000, and Bergman proceeded with the transfer amid ongoing distractions from his weekend activities. The group chat continued to buzz with positive reactions, including a staged rejection of a late attempt by one of the impersonated billionaires, which heightened the perceived exclusivity. Bergman later reflected that the rush to decide without thorough verification deviated from his usual decision-making principles.
A third round at $0.45 per coin prompted Bergman to pause when he spotted discrepancies, such as an incorrect phone number for Adin Ross. He reached out directly to the real MrBeast, who quickly confirmed the entire setup was fabricated, from the group chat to the investment details. This revelation came after $1.25 million had already been lost, but it prevented further damage.
MrBeast responded publicly to Bergman’s account by offering a $100,000 reward for any information that could lead to the scammers’ arrest, underscoring the seriousness of the incident. Bergman chose to share his story openly to cope with the emotional impact and to remind others that even seasoned professionals can be vulnerable to well-orchestrated crypto scams. He emphasized his ongoing commitment to Team Water and the positive work of MrBeast and Rober, viewing the experience as a lesson in vigilance within the crypto ecosystem.