Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: mlawson71 on January 20, 2022, 04:28:20 PM
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Kim Kardashian and Floyd Mayweather are being sued for allegedly promoting token EthereumMax in a misleading way. The lawsuit was filed on January 7th in a Los Angeles Federal Court.
EthereumMax(EMAX), which is a token which actually has no legal or business relations with the Ethereum cryptocurrency, has disputed the allegations. The token was built on the same blockchain tech and much like many other similar tokens, turned out to be pump and dump scheme. At the beginning of June last year it formed a massive rally and then lost 98% of its value over the course of only a few hours.
According to the lawsuit the company’s executives collaborated with a few celebrities to promote their token and misled the public through social media. Kim Kardashan had an Instagram post promoting EthereumMax back in June saying “Are you guys in crypto?” and then she stated that this “is not financial advice but sharing what my friends just told me about the Ethereum Max Token”. Then she continues: “a few minutes ago Ethereum Max burned 400 trillion token- literally 50% of their admin wallet giving back to the Emax Community”.
Source (https://scamosafe.com/kim-kardashian-sued-for-promoting-ethereummax/)
Yet another case of an influencer promoting a scam coin and then forced to take responsibility for it. Or at least I hope she'll have to take responsibility for it.