Famous accomplices of Ponzi schemes?: the promotion of scams between influencers grows

Many comfortably exceed the million followers. Some they are international stars. Most have a legion of fans eager to know the details of your beauty routine, clothing brand or favorite place.

This week, kim kardashian and the boxer Floyd’s Mayweather Jr.. were accused of being part of a fraud, after promoting the EthereumMax tokens, which are suspected of scam.

Mayweather, meanwhile, promoted EthereumMax in his boxing trunks during a fight with the star of Youtube logan paul in June, among other occasions.

The complaint, filed by a New York resident who purchased EMAX tokens and lost money, it is proposed as a class action lawsuit for anyone who has purchased EMAX tokens from mid-May to the end of June 2021. But they are not the only celebrities involved.

Floyd Maywheter in trouble

Floyd Maywheter in trouble

Floyd Maywheter in trouble

A magnet for brands

Emiliano Lima, BuenBit Press Officer, he tells iProUP that “we all know that they are not specialists in finance or economics but they are used by this platform”. “They are usually mega stars who lend their image to promote these things that often end up in Ponzi,” he adds.

The expert warns that when it comes to a high return promise, you have to consider that it can become a scam.

“If they tell you that you are going to invest without risk, it is almost certain that it ends up in a Ponzi scheme. Those of us who are in the environment know that it is likely to be a scam. But being a massive figure, he does not usually know how these types of schemes work. criminals who rely on the figures to keep the money and not return it,” says Limia.

Number of followers

The influencer marketing focuses on celebrity endorsements. Micro-influencers do most of the successful influencer marketing. These are ordinary people who built a strong audience on social media, as detailed on the Influencers Marketing Hub site.

Although there are no strict definitions for the number of followers, a general guide to the types of influencers is:

  • mega-influencers: superstars with more than a million followers. They are often celebrities

  • macro-influencers: influencers who have between 100,000 and 1 million followers

  • Micro influencers: someone who has between 1,000 and 100,000 followers. While the number of followers might be small, their authenticity is high

  • nano-influencers: Someone with less than 1,000 followers who has immense influence over a comparatively small niche.

Limia warns that a regulation could guarantee that this type of company does not get away with it. “For now, the projects we saw were quite poor. A regulation is not bad or good by itself, it will depend on how it is implemented and what is sought. Or if they aim to protect users,” he highlights.

And he adds: “We see that there is fiscal anxiety about collecting taxes. We have many companies that we know are not Ponzi and the ideal would be to work side by side. A very common mistake is to think that with crypto you can become a millionaire, and It is not like that, and even less so if they offer you zero risks,” he mentions.

Kim Kardashian, another super star linked to the scam business

Kim Kardashian, another super star linked to the scam business

Kim Kardashian, another superstar linked to the scam business

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Last week, the most recurrent posts from celebrities like Zaira Nara, Candelaria Tinelli, Celeste Muriega, Laurita Fernández and Flopy Tesouro recommended Vayo Business.

i go business is a public limited company that was created in November 2011 whose shareholders are Ana María Lavitola (who has 95%) and Matías Ezequiel Mansilla (who has 5%) but everything indicates that its profitability of 135% percent is far to be put into practice.

According to reports, Vayo is being targeted by the Central Bank of the Argentine Republic (BCRA) because the company is not registered with the National Securities Commission (CNV), a key requirement for this type of operation.

However, Vayo is not the only company that adds these two points: being under the spotlight and being recommended by celebrities.

Journalist Thomas Balmaceda warned that in recent weeks some of the influencers with the most followers in the country began to promote Coinx a cryptocurrency investment fund that promises between 5% and 8% monthly return in dollars.

Another of the celebrities who promote it are Laura Fernandez that three weeks ago mentioned: “It’s the way to beat damn inflation”.

Jimena Frontera, an actress who reveals in her Instagram bio that she has a degree in Bioneuroemotion, put it almost in the same terms: “Beat inflation and generate profits while your savings also don’t lose value.”

“The guys at Coinx are love! They give you five to eight percent a month in dollars, which is a lot,” explained Yanina Latorre. And Carolina “Pampita” Ardohain wrote: “Do you think that because you live in Argentina you can’t invest? Turn your life around. Don’t you believe me? Go to the link, get rid of your doubts and start changing your life!” . However, it remains to be seen how much truth there is behind all these projects.

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Famous accomplices of Ponzi schemes?: the promotion of scams between influencers grows