Kim Is A Part Of The Ethereum Max Crypto Scheme, But Lawyers Are Trying To Prove She’s Innocent
Billionaire socialite Kim Kardashian’s lawyers have filed a motion to reject a class action lawsuit brought against her by ‘misleading’ investors over a cryptocurrency called Ethereum Max. Last year, a rather unpopular cryptocurrency project called Ethereum Max managed to attract a lot of attention. The project was promoted by influencer Kim Kardashian and boxing legend Floyd Mayweather. But unfortunately, the crypto project turned out to be a hoax aimed at leaving its investors penniless!
Ethereum Max turned out to be the centerpiece of the global pump-and-dumb scheme. He used the influence of socialites and other celebrities to drive up the price of the token, while its founders reportedly took the money and ran away leaving people holding a fake and worthless token. Among these influencers were Kim Kardashian and several others who are now facing class action in the US for their alleged involvement in this scheme.
Kim’s attorney has filed a motion in a US District Court in California to dismiss the complaint against her. The legal team argued that all 10 allegations made against her in the case are unfounded. The motion also debated the accusation that influencers received Ethereum as payment to promote Ethereum Max, which lacks evidence that Kardashian received any compensation for her Instagram posts.
Many celebrities and influencers have promoted cryptocurrency and blockchain projects over the years, since the beginning of the decentralized market. But Kim’s post was certainly the biggest social media promotion for a cryptocurrency, in terms of reach. With over 20 million Instagram followers, Kim reached out to a number of potential investors looking for long-term investment opportunities, which in turn could have suffered drastic financial losses.
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source – www.analyticsinsight.net