Ethereum
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ETH · 1w

Kim Kardashian Has Been Reported to the SEC for Profiting from the EthereumMax Scam

Kim Kardashian Has Been Reported to the SEC for Profiting from the EthereumMax ‘Scam’ A Redditor going by the moniker Loose-Imagination781, has reported Kim Kardashian West to the SEC for her involvement in a crypto scheme. Kardashian posted on her Instagram, “Are you guys into crypto????” promoting, but not promoting a project known as EthereumMax. In the last four months, EthereumMax (EMAX) has lost 97.87% of its value.

Shilling arguably obscure projects looks to not be as profitable as it might seem in the first place.

Social media influencer and entrepreneur Kim Kardashian is still receiving community backlash for the promotional post she did for the EthereumMax token on June 13th, 2021.

A Redditor, identified as Loose-Imagination781, announced on Reddit, that they reported the media personality, socialite and businesswoman to the Securities and Exchange Commission (SEC) for her involvement in EthereumMax. The user also urged others to do the same.

The initial post has received more than 10K upvotes so far.

EthereumMax is a yield based token that claims to provide up to a 6% distribution of every transaction to existing eMax wallet holders just for owning it.

Other Influencers Under Fire As Well

The aforementioned Reddit post has garnered more than a thousand comments. The crypto community shared their sentiments regarding such behaviour, pointing out that other big names, such as actor Steven Seagal, and boxer Floyd Mayweather Jr. have done similar campaigns.

Other redditors were sceptical regarding the reporting procedure, stating that this might not result in anything significant.

DailyCoin has reached out to both the SEC and the Kardashian team for comment, but did not receive any statement before publication.

What Did Kim K Do?

Earlier this year, Kardashian, who has over 250 million followers on Instagram, asked her followers: “Are you guys into crypto????” The post was, how...

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