Kim is a part of the Ethereum Max crypto scheme, but lawyers are trying to prove her innocent
Billionaire socialite Kim Kardashian’s attorneys have filed a motion to dismiss a class-action lawsuit filed against her for ‘misleading’ investors regarding a cryptocurrency called Ethereum Max. Last year, a quite unpopular crypto project named Ethereum Max was successfully able to garner 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 scam that aimed to leave its investors high and dry!
Ethereum Max turned out to be the centerpiece for the global pump-and-dumb scheme. It used the influence of socialites and other celebrities to increase the price of the token, while its founders would have taken the money and ran away leaving people holding a fake, worthless token. Among these influencers were Kim Kardashian, and several others who are now facing a class action lawsuit in the US for their alleged participation in this scheme.
Kim’s legal counsel filed a motion in a California US District Court to dismiss the complaint against her. The team of lawyers argued that all the 10 claims made against her in the case are baseless. The motion also debated the accusation that the influencers received Ethereum as payment to promote Ethereum Max, which lacks evidence that Kardashian received any compensation for her Instagram posts.
Plenty of celebrities and influencers promoted cryptocurrency and blockchain projects over the years, since the inception 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 followers on Instagram, Kim had reached out to several potential investors who were looking for long-term investment opportunities, who in turn might have ended up with drastic financial losses.
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