Culture

Kim Kardashian Is Being Sued for Crypto Scam Involvement

As well as Floyd Mayweather and Paul Pierce.

By
1,502 Hypes

Kim Kardashian Is Being Sued for Crypto Scam Involvement

As well as Floyd Mayweather and Paul Pierce.

Kim Kardashian, Floyd Mayweather and Paul Pierce are being sued for duping their followers into purchasing EthereumMax tokens between May 14 and June 27, 2021. The plaintiff has claimed that the three influential names lured people to “buy-in to a worthless cryptocurrency platform,” according to reports.

As soon as the tokens’ value increased, Kardashian, Mayweather and Pierce “exited with major financial gains.” The complaint adds that the trio was part of a “pump-and-dump scheme,” in which Kardashian’s 251 million followers were involved in. Without a limited time frame for selling tokens in exchange for promotional activities, the currency skyrocketed to 1,370% of its original value, only to come crashing at a rate of 98% thereafter. Charles Randall, the U.K. Financial Conduct Authority chair, stated, “Social media influencers are routinely paid by scammers to help them pump and dump new tokens based on pure speculation.”

The artificial spike can be traced back to the platform’s business model. As per the filed documents, EthereumMax relies on persistent marketing and promotional activities from “‘trusted’ celebrities to dupe potential investors into trusting the financial opportunities available with EMAX Tokens.”

Read Full Article
Source
Above The Law
Share this article

What to Read Next

Kendall Jenner's 818 Tequila Brand Is Being Sued
Culture

Kendall Jenner's 818 Tequila Brand Is Being Sued

Its competitor, Tequila 512, is accusing the company of trademark infringement.
3,945 Hypes

Kim Kardashian Is "Doing So Great" After Being Declared Legally Single
Culture

Kim Kardashian Is "Doing So Great" After Being Declared Legally Single

The reality star was all smiles at the opening of Revolve’s Social Club.
433 Hypes

Kim Kardashian Says She Is Focusing on Herself
Culture

Kim Kardashian Says She Is Focusing on Herself

The mother of four tells ‘Vogue’ that she is choosing to be happy.
618 Hypes


Pete Davidson Is Moving to L.A. To Be Closer to Kim Kardashian
Culture

Pete Davidson Is Moving to L.A. To Be Closer to Kim Kardashian

The Staten Island native plans to buy a house on the West Coast for love.
32,936 Hypes

Adidas YEEZY 450 "Cinder" Bears a Gradient Look
Footwear

Adidas YEEZY 450 "Cinder" Bears a Gradient Look

Dark chocolate and tan hues cover the claw-like silhouette.
1,111 Hypes

Rumors Suggest Apple iPhone 14 Pro and Pro Max Will Be More Expensive
Tech

Rumors Suggest Apple iPhone 14 Pro and Pro Max Will Be More Expensive

Contrary to previous speculations.
652 Hypes

Netflix To Tell Story of Notorious Con Man in True Crime Documentary, 'Tinder Swindler'
Film & TV

Netflix To Tell Story of Notorious Con Man in True Crime Documentary, 'Tinder Swindler'

You’ll think twice about swiping right after watching this trailer.
1,150 Hypes

'Scream' Is Back With a Chilling Final Trailer
Film & TV

'Scream' Is Back With a Chilling Final Trailer

Hitting the big screen this Friday.
306 Hypes

Nike To Drop New Air Force 1 Low Model, PLT.AF.ORM
Footwear

Nike To Drop New Air Force 1 Low Model, PLT.AF.ORM

A “Triple White” pair featuring cut-out Swooshes.
2,239 Hypes

Here's an Official Look at Chanel's 22 Bag
Fashion

Here's an Official Look at Chanel's 22 Bag

The fashion house’s latest handbag showcased on the SS22 runway.
31,348 Hypes

5 Things To Know About 'Single's Inferno' Breakout Star Song Ji-a
Culture 

5 Things To Know About 'Single's Inferno' Breakout Star Song Ji-a

Everything from her career to her favorite perfume.
11,349 Hypes

Prada Introduces New Triangle Bag in 4 Colorways
Fashion

Prada Introduces New Triangle Bag in 4 Colorways

The accessory was first introduced on the house’s SS22 menswear runway.
2,740 Hypes

Maya Angelou Is the First Black Woman on the US Quarter
Culture

Maya Angelou Is the First Black Woman on the US Quarter

Arriving as part of a larger program celebrating pioneering women.
8,730 Hypes

"Oystering" Is the Dating Trend for Leveling up Post-Breakup
Sex & Dating

"Oystering" Is the Dating Trend for Leveling up Post-Breakup

Plot twist: people are actually excited about dating again?
35,120 Hypes

More ▾
 
Subscribe to our Newsletter

Keep updated on the latest news.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.