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By Laurence Dollimore For Dailymail. Kim Kardashian and Floyd Mayweather Jr are being sued for allegedly misleading investors by promoting cryptocurrency tokens as part of an alleged 'pump and dump scam'. A lawsuit, filed in the Los Angeles federal court on January 7, claims the reality star and boxing champion - among others, including former NBA player Paul Pierce - touted tokens sold by EthereumMax, or EMAX, in order to boost its price and make themselves a profit 'at the expense of their followers and investors. Figures show the value of the cryptocurrency plummeted by a whopping 98 per cent in July - just weeks after the stars had advertised it to their hundreds of millions of combined followers. An advert posted by Kim in June reached one in five people in the US alone, and three in 10 crypto owners, according to data intelligence company Morning Consult.
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- Where to buy Ethereum Max: best platforms to trade eMAX crypto
- Kim Kardashian, Floyd Mayweather sued over alleged crypto ‘pump and dump’ scheme
- buy emax crypto
- You can now use EthereumMax to buy tickets for Floyd Mayweather vs. Logan Paul. But what is EMAX?
- emax crypto news today
- $eMax Is the #1 Trending Crypto Across All Exchanges Worldwide
Where to buy Ethereum Max: best platforms to trade eMAX crypto
Celebrity Kim Kardashian and athletes Floyd Mayweather and Paul Pierce were named in a lawsuit for allegedly scamming their followers into investing in a cryptocurrency called EthereumMax. The lawsuit, according to classaction. It also names an anonymous Defendant X. The lawsuit alleges that while regular investors bought EMAX coins, the defendants were offloading their own assets in exchange for profits it what is known in Wall Street circles as a "pump and dump" scheme.
On June 14, Kardashian Kardashian's million followers on Instagram saw an ad from her stating "Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token! Swipe up to join the e-max community," according to The Hollywood Reporter.
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Kim Kardashian, Floyd Mayweather sued over alleged crypto ‘pump and dump’ scheme
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As part of a class action lawsuit filed recently in California, US, several high-profile celebrities are now facing a legal investigation. The lawsuit claims that investors who put their money in this cryptocurrency eventually lost their capital at inflated prices later. The charges levied against the celebrities include violations of US state consumer protection laws, common law over aiding and abetting as well as unjust enrichment. The investigation will trace the participation of the named celebrities in promoting worthless cryptocurrency tokens. The Instagram Story showed the content for 24 hours before it disappeared. This is not financial advise but sharing what my friends just told me about the EthereumMax token! Meanwhile, the group of investors who filed the suit seek monetary relief for the damages as a result of the alleged scheme.
You can now use EthereumMax to buy tickets for Floyd Mayweather vs. Logan Paul. But what is EMAX?
The lawsuit alleges that they took part in a pump and dump scheme with their promotions of the crypto. In the case of Kardashian, she promoted EthereumMax in an Instagram post. When it comes to Mayweather, he promoted the crypto in his bought with Logan Paul. The crypto was also able to be used for purchasing tickets to the event. In either case, traders that bought into the crypto during the hype from these two celebrities claim they suffered losses by investing in it.
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By Winston Cho. Kim Kardashian , Floyd Mayweather and Paul Pierce are being sued for allegedly duping investors in a cryptocurrency scam. The lawsuit, which accuses the stars of misleading their followers in a pump-and-dump scheme, claims the celebrities convinced their fans to buy EthereumMax tokens, only to sell them once their value was inflated. They were allegedly paid in tokens for their sponsorships and exited with substantial gains, leaving investors holding the bag, the lawsuit claims. The class action complaint was filed on behalf of a New York resident by John T.
$eMax Is the #1 Trending Crypto Across All Exchanges Worldwide
Kim Kardashian is among three celebrities being sued by investors in the EthereumMax crypto-currency. Other defendants include boxer Floyd Mayweather Jr, basketball player Paul Pierce, and the currency's creators. The legal action alleges the celebrities collaborated with EthereumMax to "misleadingly promote and sell" the crypto-currency. EthereumMax said it disputed the allegations and looked forward to the truth coming out. In spite of its name, EthereumMax has no legal or business connection with the Ethereum crypto-currency. The class action claims EthereumMax operated a "pump and dump" scheme - where misleading marketing is used to inflate the price of an asset then sold to unwitting investors at a profit.
The lawsuit claimed that the celebrities told their million followers on social media to purchase the coins, only to sell when the price was high. This is not a financial advice but sharing what my friends just told me about the Ethereum Max token! A few minutes ago Ethereum Max burned trillion tokens — literally 50 per cent of their admin wallet giving back to the entire E-Max community," she wrote. On June 7, , boxing legend Floyd Mayweather Jr.
Kim Kardashian, Floyd Mayweather and basketball star Paul Pierce are being sued for promoting a "bogus" crypto token called EthereumMax. Ryan Huegerich, who lost money from the EMAX tokens, filed the class-action lawsuit alongside other affected investors on January 7. The lawsuit claims that this was a "pump and dump" scheme, a well-known scam whereby the creators artificially increase the coin's price, before secretly selling off their own shares, leaving investors with nothing as the value takes a nosedive. This is not financial advice but sharing what my friends just told me about the Ethereum Max token! Mayweather, meanwhile, actually wore a shirt with the EthereumMax logo on it to a boxing event. Pierce tweeted about it, slamming his former employer ESPN to say he made more money with the token in a month than he did all year with them.
Celebrity Kim Kardashian and athletes Floyd Mayweather and Paul Pierce were named in a lawsuit for allegedly scamming their followers into investing in a cryptocurrency called EthereumMax. The lawsuit, according to classaction. It also names an anonymous Defendant X. The lawsuit alleges that while regular investors bought EMAX coins, the defendants were offloading their own assets in exchange for profits it what is known in Wall Street circles as a "pump and dump" scheme. On June 14, Kardashian Kardashian's million followers on Instagram saw an ad from her stating "Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token! Swipe up to join the e-max community," according to The Hollywood Reporter.
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