Kim Kardashian has paid $1.2 Million to SEC in the case of EthereumMax Token promotion.
Since the pandemic you must have seen people talking about Crypto and blockchain and why shouldn’t they, crypto was the hottest topic in the pandemic and many people took full advantage of it whether in positive or negative way. In today’s article we are going to talk about the famous TV star and Business Tycoon Kim Kardashian.
SEC has filed a charge against Kim for not disclosing the amount of $250,000 after she promoted EthereumMax. Kim Kardashian is one of the most influential person on the internet with 71 Million followers on Twitter and 331 Million followers in Instagram.
Now Kim has paid $1.26 Million to US SEC to settle the charge related to EthereumMax promotion which was filed by EthereumMax Token investors in January.
EthereumMax was a complete scam, you can understand this as, when someone with high influence promotes any crypto it’s value increases overnight and when it does the major people who are aware of this the instantly cashout their high profit and soon after then it’s value goes to zero.
Celebrities play a major role in this type of scam because they charge high amount for a single post and when everything is done normal people lose all their money in the scam that’s why you shouldn’t follow anyone blindly.
Kim Kardashian was not the only one who was involved in the EthereumMax Professional boxer Floyd Maywhether Jr.