in May 2020 Kim Kardashian, Floyd Mayweather Jr. and Paul Pierce introduced by EthereumMax named token has been the subject of lawsuits. Investors claiming they were defrauded sued both token founders and celebrities.
International cryptocurrency scams affect millions of people. According to the report by Finbold, May 14, 2021 to June 27, 2021 A lawsuit was filed en masse by investors who bought EthereumMax. Investors, who stated that the celebrities were influential in the token they bought, demanded payment of the losses incurred as a result of the alleged plan.
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Kardashian and Pierce bought fight tickets with EthereumMax
Kardashian and Pierce, who bought tickets with EthereumMax for the Mayweather and Logan Paul matches held on June 6, announced the token on their social media accounts. held in September Morning Consult According to his survey, 19 percent of Kardashian’s social media followers bought EthereumMax after the posts.
CoinMarketCap data of the token named EthereumMax, which was reported as fraudulent, on May 16, 2021. 0.00000006 It shows that it has started to be traded in dollars. percent on May 29. more than 1,000 EthereumMax, which gained more value, started to decline the following week. The token, which continued to fall below its initial value throughout June, victimized millions of people.
Analysts state that tokens can be created easily and celebrities are very active in crypto money as in many other issues. Stating that people who want to get rich quickly apply this way, analysts underlined that crypto money fraud has increased rapidly in the past year.
Some scammers are trying to make similar hits on securities such as stocks. The lack of legal regulations on crypto money causes fraudsters to turn to the crypto money market instead of securities.