Caricatures and drawings on Forex portal

Kim Kardashian accused of promoting fraudulent crypto projects

Open trading account

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Kim Kardashian accused of promoting fraudulent crypto projects

Offer your friend to read

Celebrities are actively trying to make money from cryptocurrencies. Not everyone has the courage to invest, but many agree to promote a coin. They do not really go into details, and various scammers use this opportunity.

Boxer Floyd Mayweather is most often accused of collaborating with fraudsters. In October 2018, he promoted the fraudulent crypto project Centra, and recently Mayweather advertised the suspicious Ethereum Max crypto token. During his last fight, the boxer donned the t-shirt with its logo to weigh in and battle against blogger Logan Paul. American celebrity Kim Kardashian also advertised the little-known cryptocurrency Ethereum Max on her Instagram with 200 million subscribers. The British regulator suspected that the star put investors at risk, as the tokens could have been created by scammers.

Charles Randall, the Chair of the Financial Conduct Authority (FCA) said that this ad was a prime example of how celebrities can attract investors to fraudulent crypto projects. He noted that Kardashian should have pointed out that Ethereum max is a speculative digital token created by unknown developers.

According to Randall, scammers usually pay famous people with a lot of followers to help them advertise cryptocurrencies. Moreover, some celebrities are promoting coins that do not exist in reality.

Back