Floyd Mayweather and Kim Kardashian Sue Over Crypto Scam

Floyd Mayweather and Kim Kardashian Named in Crypto Scam Lawsuit

Floyd Mayweather and Kim Kardashian share common ground.

Lightweight boxing champion Floyd Mayweather and reality TV star Kim Kardashian was sued with a cryptocurrency lawsuit. They are on a list of celebrities who allegedly engaged in a “pump and dump scam” by promoting crypto tokens. Reports say they are being accused of deceiving investors.

A statement from the lawsuit, filed earlier this month in Los Angeles federal court, is reported to be:

“The company executives, in collaboration with a number of well-known promoters… made false or misleading statements about EthereumMax through social media advertisements and promotional activities. is different.”

Kim, Floydand many others allegedly entered into a promotional deal with the EthereumMax (EMAX) token. According to the report, they signed up to increase sales by promoting the product and in return, they received a profit.

As soon as celebrities promoted the token to their millions of followers, the value of the token dropped dramatically. The data is said to have demonstrated that it has dropped by about 98%.

An unidentified person from New York, who filed the lawsuit, reported losing money from purchasing EMAX tokens. The amount was not specified, but they have requested a class action lawsuit to ensure that anyone who shares a similar experience will have a court date.

Kim Kardashian advertised the EMAX token on her Instagram story in June 2021, just weeks before the value dropped. One in five people in the US watched the story, along with three out of 10 crypto investors.

Floyd Mayweather–Boxing matches are usually big events – wear a pair of boxing pants with token names scribbled on them throughout his match with YouTuber Logan Paul that same month.

Floyd and Kim have not talked about this issue; However, EthereumMax has released a statement in their own defense.

“Scam story regarding recent allegations made by misinformation about EthereumMax project,”

They continued:

“We oppose the allegations and look forward to the truth coming out.”

Do you think Kim and Floyd deserve to be sued? Leave us your comments and let us know!

[VIA]