Kim Kardashian Is Being Sued by Investors Over Crypto Scam

YouTube Kim Kardashian

Kim Kardashian is being sued by investors for her involvement in an alleged cryptocurrency scam. According to CNBC, a class action lawsuit was filed in the U.S. District Court of the Central District of California on January 7, 2022, that accuses Kardashian and other celebrity promoters of a new cryptocurrency token called EthereumMax of “working together to artificially inflate the price of the token by making false or misleading statements” on social media.

Kardashian first promoted the token in 2021 on Instagram. “This is not financial advice but sharing what my friends just told me about the EthereumMax token, ” Kardashian wrote in an Instagram post, CNBC reported. The social media mogul included the hashtag “ad,” signaling she may have been paid for the endorsement. It is unclear how much Kardashian was paid for the endorsement, but according to CNBC, some estimates suggest she was paid “in the $500,000 to $1 million range.”

According to CBS News, the lawsuit filed on January 7 claims that the token’s creators-Steve Gentile and Giovanni Perone-used celebrity endorsements to inflate the price of the token, then they sold their holdings for a “substantial profit.”

According to the lawsuit, Gentile and Perone “marketed the EMAX tokens to investors so that they could sell their portion of the float for a profit,” CBS News reported.

EthereumMax has released a statement to CBS MoneyWatch denying the allegations.

Kanye Claims Kim Wouldn’t Let Him in Her House

In an exclusive interview with Hollywood Unlocked, Kanye West told host Jason Lee that Kardashian’s security stopped him from entering her home.

“Earlier this week, Monday, when I go to pick my kids up from school, the security stopped me at the gate,” West told Lee, Cosmopolitan Magazine reported. “So at that point, security was in between me and my children and that’s what was not going to happen,” West continued.

Entertainment Tonight released a clip from the interview on January 14 in which West tells Lee, “I am the richest Black man and North’s father, right, and the security was able to stop me from going into the room with my daughter.”

West added that Pete Davidson, Kim’s current boyfriend, was in the house at the time.
“I am hearing that the new boyfriend is actually in the house that I can’t even go to” he said in the interview.

Kim Is Upset by Kanye’s Claims

A source close to the Kardashian’s told Page Six exclusively that Kim is upset by the claims. “She wants all matters regarding kids private and is so upset Kanye had done interviews, discussing these private matters,” the source told the outlet.

“She has always protected the kids and kept things quiet-and always protected him,” the source added.

Another source close to the famous family refuted the claim that Davidson was in the house at the time, telling Page Six exclusively, “Pete has yet to be introduced to Kim’s kids, and it’s widely known that whenever he visits her in LA, he stays at a hotel in Beverly Hills where she’s been spotted with him.”