EMAX participates in the pyramid process! EthereumMax president Kardashian sues Mayweather

Cryptocurrency firm Ethereum Max and its sponsors have been sued by investors claiming they took advantage of the token price increase after persuading investors to later accept famous people.

According to The Block, plaintiff Ryan Hughrich has filed a class action lawsuit against the project on behalf of every trader who purchases EMAX tokens on the Ethereum Max platform from May 14 to June 17 of this year. The complainant alleges that EthereumMax management and the project's sponsors deceived investors by promoting fraud and misrepresentation through the media and other media.

Huegrich said in the lawsuit that the project manager was hiding the actual management of tokens by investors and the percentage of merchant tokens in May and June, as well as the token fees and benefited from EMAX sales. The parties said they would use investor recommendations to attract and convince investors and then increase the currency's value.

In summary, EthereumMax's business model relies entirely on continuing to trade and supporting trusted clients to attract and entice investors who once thought the EMAX token was a good time to invest.

Legal records also list boxers Kim Kardashian (Kim Kardashian), boxing champion Mayweather (Floyd Mayweather) and former NBA player Paul Pearce (Paul Pearce) as accused.

The EthereumMax token (EMAX) is an ERC-20 token on the Ethereum blockchain, but has nothing to do with Ethereum itself. Victims told investors that project defendants were using similar names of EthereumMax and Ethereum to confuse investors, and that the project was well linked to the Ethereum network to attract investors, he said. precise.

According to CoinMarketCap, the Ethereum Max (EMAX) token fell 98% from its high of $ 0.0000008546 to $ 0.000000001691 before the close.

Kardashian repost, affecting 1 in 5 American adults

According to a previous announcement, American socialite Kim Kardashian, with 250 million Instagram followers, trusted the Kardashian community after following EthereumMax's announcement on the platform in May of last year. , the survey found that about 21% of U.S. adults had heard of the tweet, and MorningConsult reported in September that 47% of cryptocurrency holders knew about it.

Over 19% of respondents said they started investing in EMAX tokens after seeing Kardashian's IG ad, and the exchange was fantastic.

Boxing champ Mayweather buys EMAX tickets

Another defendant, champion Floyd Mayweather, used EthereumMax as a payment method to purchase boxing tickets.

Boxing champion Floyd Mayweather and famous American YouTuber Logan Paul took part in a special boxing match on June 6 last year. the price.