Floyd Mayweather and Kim Kardashian Sued for Allegedly Scamming Crypto Currency Investors

Floyd Mayweather is one of the most followed athletes on the planet. The boxing legend stays extremely active on his social handles, posting about life updates, vacations, boxing activities, and more. Also, biggies like Mayweather use their social handles to market some brands to their countless fan base.

However, promoting brands puts such hotshots in a vulnerable spot at times. That said, Floyd Mayweather and Kim Kardashian recently found themselves in some trouble after they got sued for scamming investors in a cryptocurrency, known as EthereumMax.

Both Kardashian and Mayweather were paid to promote the block-chain based digital tokens to their vibrant fan base. According to a complaint filed in the Los Angeles federal court, it was mentioned, “causing investors to purchase these losing investments at inflated prices,”

A UK financial regulator called the entertainment star back in September to entice her followers with this cryptocurrency endorsement.

Similarly, in 2018, Mayweather too was fined by U.S. Securities and Exchange Commission for some initial coin offerings on his social handle. Moreover, the boxing GOAT didn’t even reveal that he was paid to do so. Until now, Mayweather and Kardashian’s teams haven’t quite reacted on the same.

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Bigwig personalities have pros and cons of living at such an elite level. That said, they also have to keep themselves in sync, thus keeping the fans up to date with all their life activities and endorsements. However, these endorsements end up putting them in trouble a few times.

How did Floyd Mayweather and Kim Kardashian find themselves in trouble due to EthereumMax?

Per a note in the complaint, it was mentioned, “EthereumMax has no connection to the second-largest cryptocurrency, Ethereum.” 

Also, EMAX, in the lawsuit, is reported to be a “speculative digital token created by a mysterious group of cryptocurrency developers,”

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The above statements sum up why Floyd Mayweather and Kim Kardashian got into legal trouble. It’ll be interesting to see how things will pan out ahead in the matter associated with both Mayweather and Kardashian.