A-list US celebrities Kim Kardashian and Floyd Mayweather are both tied-in to a lawsuit related to the promotion of the EthereumMax cryptocurrency s
A-list US celebrities Kim Kardashian and Floyd Mayweather are both tied-in to a lawsuit related to the promotion of the EthereumMax cryptocurrency scheme.
The lawsuit, which was filed in Los Angeles, claims the celebs were paid to promote crypto tokens sold by EthereumMax which allegedly manipulated the market.
Kardashian was said to have endorsed EthereumMax in June, via an Instagram post to her 250mln followers.
Shorts worn by Mayweather for a high-profile exhibition fight with YouTuber Logan Paul carried an EthereumMax ad.
“The company’s executives, collaborating with several celebrity promoters … made false or misleading statements about EthereumMax through social media advertisements and other promotional activities,” the lawsuit stated.
The class-action suit was filed by a New York resident who bought tokens and lost money on EthereumMax.
EthereumMax, meanwhile, was described in the suit as “a speculative digital token created by a mysterious group of cryptocurrency developers” and it is noted that the crypto token had no connection to Ethereum, which is the second largest cryptocurrency.
Developers of EthereumMax are also defendants in the lawsuit.
Floyd Mayweather was previously fined by the SEC in 2018 over a separate crypto related promotion.
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