Kim Kardashian, Floyd Mayweather sued for alleged ‘crypto scam’

Stevian Francis

3 years ago

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Media personality Kim Kardashian and boxing great Floyd Mayweather have both been named in a lawsuit for allegedly misleading followers about the benefit of purchasing a specific cryptocurrency.

The fashionista and former boxer were reportedly paid to hype up the image and push the narrative of the value of the crypto. Ethereum is the digital currency in question which is also named in the suit which claimed to have defrauded its buyers.

According to court documents filed in Los Angeles, followers of the celebrities were influenced to purchase the crypto under the guise that they genuinely benefited from investing in the currency and were freely encouraging its growth.

The documents claim that both [Kardashian and Mayweather] being sponsored to promote crypto was hidden and they along with developers of Ethereum knowingly misled buyers into its purchase at an inflated price.

Ethereum max, which has no connection to Ethereum currency is described in the lawsuit as being “akin to marketing a restaurant as McDonald’s max, when in fact they have no affiliation other than the name similarity and that they serve food”.

The case which was filed as a proposed class-action suit is on behalf of everyone who purchased ‘Emax’ between May to late June. The suit claims violations of the California consumer protection laws and seeks restitution for the difference of what the currency was purchased and actually sold for.