Kim Kardashian And Floyd Mayweather Sued For Promoting Alleged Cryptocurrency ‘Pump and Dump’ Scam

Kim K and Floyd are currently being sued for promoting a cryptocurrency that allegedly earned the creators’ of the token large sums but left many investors with zilch, Finbold.com has reported.

EthereumMax, had a good run in early 2021, buoyed largely the suit argues by endorsements from Kardashian, Mayweather, and Pierce, all of whom were paid to promote the token. However, before long, the value of the coin crashed, reportedly leaving many investors with a basically worthless asset.

 The lawsuit filed Friday claims that this activity was part of a “pump and dump” scheme—the age-old ploy whereby the creators of a product will artificially increase its value before secretly selling off their own shares and making a ton of cash in the process, after which the value of the product crashes. The suit also mentions anybody who invested in the coin between May 14, 2021, and June 27, 2021, and was “damaged thereby” by the coin’s trajectory.

Good Luck To Them!