YouTube megastar MrBeast has stepped into an international crypto fraud case, offering a $100,000 reward for credible information that could lead to the arrest of scammers who swindled Erik Bergman, co-founder of Malta-based Catena Media, out of $1.25 million.

The reward announcement, made on social media to MrBeast’s 300 million followers, has thrown a fresh spotlight on a scam that has already rattled Malta’s tech and finance community.

A scam hidden in plain sight

Bergman revealed earlier this month that he was tricked into transferring $1.25 million in cryptocurrency after being lured into a sophisticated fake WhatsApp group chat. The deception began after Bergman made a legitimate $1 million donation to Team Water, a real fundraising campaign run by MrBeast and fellow YouTuber Mark Rober to build wells in Africa.

Soon after, scammers posing as MrBeast, Rober, billionaire Shopify founder Tobi Lütke, streaming star Adin Ross, and others invited Bergman into what appeared to be an exclusive investment circle. The group encouraged him to join a “special opportunity” tied to Coinbase, offering early access to a new token.

Believing he was joining an elite group of donors and investors, Bergman transferred $1.25 million in crypto to what turned out to be a fake wallet. Only later, after checking details and reaching out directly to MrBeast, did he discover the entire setup was fabricated.

“I feel both ashamed and stupid telling this story,” Bergman admitted publicly, sharing screenshots, chat logs, and wallet addresses on his website Great.com so that others could see exactly how the scam unfolded.

Beyond the embarrassment: a cautionary tale

While the financial loss is significant, Bergman has emphasised that the greater damage lies in how scams like this exploit trust, shame, and social psychology. He described the experience of wanting to “fit in with the cool kids” as he interacted with what he thought were billionaires and online stars.

This vulnerability, he stressed, is universal — and even experienced entrepreneurs can fall for it. “The next time you feel shame, think of this story. Remember that shame can only live in the shadows,” he wrote when revealing what had happened.

For Malta, the story resonates even more strongly. Bergman co-founded Catena Media, one of Malta’s most prominent iGaming affiliate companies, and later launched Great.com, a charity-driven gambling venture. His downfall at the hands of crypto scammers underscores that even industry insiders are not immune.

Bergman’s team also pointed out that Malta has been positioning itself as a hub for financial technology and blockchain. Stories like this highlight not just the risks to individuals, but the need for stronger protections and regulatory credibility if Malta is to remain a trustworthy destination for crypto innovation.

MrBeast puts a bounty on justice

MrBeast’s intervention has now transformed the case, turning it into a global hunt. His $100,000 bounty for credible information raises the stakes, giving the public a direct incentive to help trace those behind the fraud.

The original Team Water campaign, which reached its $40 million target earlier this month, remains untouched by the scam and is set to bring clean water to two million people in Africa.

With Bergman’s detailed evidence now online — including phone numbers, chat logs, and transaction data — investigators and online sleuths have a head start. Whether the reward leads to arrests remains to be seen, but it has already raised global awareness around how easily even seasoned entrepreneurs can fall victim.

For Bergman, the hope is that speaking openly about his own loss will strip scams of the secrecy they thrive on. “The more people that hear this story, the harder it will be for scams like this to succeed,” he said.

With one of the world’s biggest YouTubers now on board, that message has never been louder.