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Kim Kardashian
Kim Kardashian is one of three celebrities mentioned in the ongoing lawsuit against those who invested money in Itrium Max cryptocurrency and lost money.
Other defendants include boxer Floyd Mayweather Jr., basketball player Paul Pierce and developers of cryptocurrency.
Case documents allege that celebrities collaborated with Idrium Max to “misrepresent and sell cryptocurrency”.
Itriyam said Max denies the allegations and is waiting for the truth to come out.
Idrium Max Cryptocurrency has no legal or commercial connection with the currency traded in the crypto market under the name Ethereum.
‘Loss of investments’
The lawsuit alleges that Idrium Max directed a “pump and dump” scheme. The ‘pump and dump’ scheme in English is to mis-market and thereby raise the price of a property and then sell it at a profit to unknown investors.
“The company’s executives, along with a number of well – known advertisers, misinformed investors about Idrium Max through social media ads and other advertising activities,” the lawsuit filed in California’s Central District Court said.
“Simply put, Idrium Max Currency’s entire business model relied on the use of serial marketing and advertising operations.
Boxing match
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Cryptocurrency
Pierce, a former NBA basketball player, last posted on Twitter in May 2021 about Adriam Max in a “widely discussed” post. Idriam Max Currency for himself praised the ability to make money.
On the other hand, Idium Max began to use Mayweather’s boxing match with former world champion Logan Paul in 2021, the world’s highest-earning YouTube via YouTube, to promote the cryptocurrency. Boxer Mayweather is also said to have advertised Idrium Max at a cryptocurrency conference.
Finally, Kim Kardashian, a reality TV personality, has also been reported. He had made a post regarding Idrium Max on his Instagram page. In it “This is not financial advice, but sharing what my friends are telling me about Ithrium Max.” என்ரு கூரிந்தது.
Charles Randall, chairman of Britain’s Financial Conduct Commission, has criticized Kim Kardashian for telling his 250 million followers to invest in cryptocurrencies. He also criticized it as an advertisement and a financial advertisement that has reached more people in history.
Ground Floor Max
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Law
Idrium Max told BBC News that its marketing and public relations efforts were “always on the lookout for awareness and would not encourage the purchase of currency.
“Our aim is to motivate people to study our marketing and advertising efforts, before making a decision,” Idrium Max said.
“This approach can take a lot of time, energy and resources. It’s completely different from pump and dump projects.”
One month after Kim Kardashian’s record, the value of Idrium Max Currency increased by 1,300%. After that the price plummeted to a level not seen in her lifetime. Court case documents allege that Idrium sold the currency for a profit to other investors when prices soared, leaving investors stranded.
‘Deceptive story’
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Law
Those who invested from May 14, 2021 to June 27, 2021 are said to be victims and they have been named as plaintiffs.
Idrium Max denies it. “We deny the allegations. We are waiting for the truth to come out.” Steve Gentle, mentioned in the documents as the founder of Idrium Max Currency.
The BBC has asked Kim Kardashian, Mayweather and Pierce to comment.
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