Home Bitcoin News Bitcoin Scam Kim Kardashian, Floyd Mayweather Jr. sued for alleged crypto rip-off

Kim Kardashian, Floyd Mayweather Jr. sued for alleged crypto rip-off

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The fact tv star and ex-boxing champion had been paid to hype blockchain-based EthereumMax digital tokens to their followers

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Kim Kardashian and Floyd Mayweather Jr. had been sued for allegedly scamming traders in a cryptocurrency known as EthereumMax.

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The fact tv star and ex-boxing champion had been paid to hype the blockchain-based digital tokens to their followers, “inflicting traders to buy these dropping investments at inflated costs,” based on the grievance filed in Los Angeles federal courtroom. Former Boston Celtic Paul Pierce was additionally named as a defendant within the go well with.

Kardashian was known as out in September by a U.Ok. monetary regulator for luring her 250 million Instagram followers into the “cryptobubble with delusions of fast riches.”

Mayweather, one among his sport’s most recognizable personalities, has beforehand run afoul of regulators for selling cryptocurrency investments. He was fined by the U.S. Securities and Trade Fee in 2018 for touting preliminary coin choices on social media with out disclosing that he’d been paid to take action.

Boxer Floyd Mayweather Jr. of the U.S. in Tokyo.
Boxer Floyd Mayweather Jr. of the U.S. in Tokyo. Picture by REUTERS/Issei Kato/File Picture

Representatives for Kardashian and Mayweather didn’t instantly reply to requests for remark. Pierce couldn’t be reached for remark. The Jan. 7 go well with was reported earlier by the Wall Avenue Journal.

EMAX is described within the lawsuit as a “speculative digital token created by a mysterious group of cryptocurrency builders,” who’re additionally named as defendants within the case.

“EthereumMax has no connection to the second-largest cryptocurrency, Ethereum,” based on a footnote within the grievance. “It will be akin to advertising and marketing a restaurant as ‘McDonald’sMax’ when it had no affiliation with McDonald’s aside from the identify similarity and the truth that each corporations promote meals merchandise.”


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