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<p class="is-style-lead">From suspicious shilling to bad investments, several celebrities have ended up losing millions of dollars after attempting to dabble in digital assets.</p> 
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   <li><a href="#tom-brady" rel="">Tom Brady</a></li>
   <li><a href="#logan-paul" rel="">Logan Paul</a></li>
   <li><a href="#lindsay-lohan" rel="">Lindsay Lohan</a></li>
   <li><a href="#kim-kardashian" rel="">Kim Kardashian</a></li>
   <li><a href="#justin-bieber" rel="">Justin Bieber</a></li>
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<p>Celebrities and <a href="https://crypto.news/tag/cryptocurrency/">cryptocurrencies</a> are never a good mix.</p> 
<p>Several A-listers have landed themselves in hot water after endorsing <a href="https://crypto.news/tag/altcoin/">coins</a> on social media, with some paying millions of dollars in fines and facing class action lawsuits.</p> 
<p>Some have also had their fingers burned after buying pricey <a href="https://crypto.news/tag/nft/">NFTs</a>, only to see their value plummet substantially. Then again, these losses were probably a mere rounding error in their bulging bank accounts.</p> 
<p>So without further ado, let’s take a look at five stars who might well wish they never jumped into crypto.</p> 
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<h2 class="wp-block-heading" id="tom-brady"><strong>Tom Brady</strong></h2> 
<p>The NFL legend was a vocal brand ambassador for <a href="https://crypto.news/tag/ftx/">FTX</a> — appearing in multiple adverts to claim that it was a fast, easy and safe way of investing in crypto.</p> 
<p>Unfortunately for the doomed exchange’s customers though, it proved to be anything but, and they ended up frozen out of their savings.</p> 
<p><a href="https://crypto.news/tag/tom-brady/">Brady</a> also ended up nursing a substantial loss after <a href="https://crypto.news/tag/sam-bankman-fried/">Sam Bankman-Fried’s</a> firm went bust, not least because his 1.1 million common shares in the company were rendered worthless.</p> 
<p>If that wasn’t enough, he and several others are being sued by aggrieved FTX users, who allege their endorsements were “responsible for the many billions of dollars in damages caused.”</p> 
<p>That case continues to wind its way through the courts — and to add further salt to the wound, Sam Bankman-Fried <a href="https://crypto.news/sam-bankman-fried-ftx-investors-celebrity-endorsers/">is helping the plaintiffs</a>. Ouch.</p> 
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   <p lang="en" dir="ltr">My 3-step plan for CryptoZoo, including a $1.3M rewards program for disappointed players.<br><br>Thank you, <a href="https://twitter.com/coffeebreak_YT?ref_src=twsrc%5Etfw" target="_blank" rel="">@coffeebreak_YT</a> <a href="https://t.co/xFX017UHoc" target="_blank" rel="">pic.twitter.com/xFX017UHoc</a></p>— Logan Paul (@LoganPaul) <a href="https://twitter.com/LoganPaul/status/1613961266984255515?ref_src=twsrc%5Etfw" target="_blank" rel="">January 13, 2023</a>
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<h2 class="wp-block-heading" id="logan-paul"><strong>Logan Paul</strong></h2> 
<p>YouTubers have also found themselves in a spot of bother after attempting to launch crypto projects.</p> 
<p>One of them was <a href="https://crypto.news/tag/logan-paul/">Logan Paul</a>, who was the mastermind behind CryptoZoo — “a really fun game that makes you money.”&nbsp;</p> 
<p>There was just one problem: the game has never launched, despite fans spending millions of dollars on non-fungible tokens.</p> 
<p><a href="https://crypto.news/tag/cryptozoo/">CryptoZoo</a> also faced a number of brutal in-depth investigations from a rival YouTuber called Coffeezilla.</p> 
<p>Paul ended up apologizing — and a year later, <a href="https://crypto.news/logan-paul-faces-backlash-after-declaring-2-3m-refund-for-cryptozoo-nfts/">he started to buy back</a> NFTs from fans on the condition that they won’t sue him.</p> 
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   <p lang="en" dir="ltr">6/ Lindsay Lohan has promoted many crypto scams and NFTs undisclosed at $20k-35k per tweet<br><br>Daughter Doge:<a href="https://t.co/LMHY59b7SZ" target="_blank" rel="">https://t.co/LMHY59b7SZ</a><br><br>CanineCartel<a href="https://t.co/HmESepKwed" target="_blank" rel="">https://t.co/HmESepKwed</a><br><br>MetaNetflix: <a href="https://t.co/hUSFkayVU0" target="_blank" rel="">https://t.co/hUSFkayVU0</a> <a href="https://t.co/qi6HI3xjma" target="_blank" rel="">pic.twitter.com/qi6HI3xjma</a></p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1533158858675343363?ref_src=twsrc%5Etfw" target="_blank" rel="">June 4, 2022</a>
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<h2 class="wp-block-heading" id="lindsay-lohan"><strong>Lindsay Lohan</strong></h2> 
<p>In a marked departure from her previous career as a child film star, <a href="https://crypto.news/tag/lindsay-lohan/">Lindsay Lohan</a> became an aggressive promoter of crypto projects and NFT collections on social media.</p> 
<p>There was just one problem: a lot of the time, she didn’t disclose to her followers that she was being paid to do so.&nbsp;</p> 
<p>That led to some unwelcome attention from the <a href="https://crypto.news/tag/SEC/">Securities and Exchange Commission</a>, which accused her of boosting <a href="https://crypto.news/tag/justin-sun/">Justin Sun’s</a> <a href="https://crypto.news/tag/tron">Tron</a> and <a href="https://crypto.news/tag/bittorrent/">BitTorrent</a> tokens.</p> 
<p>She ultimately settled the SEC charges, and joined the likes of Ne-Yo and Akon in paying a combined $400,000.&nbsp;</p> 
<p>Rather embarrassingly, a spreadsheet leaked by @zachXBT on X suggested that Lohan regularly charged $25,000 to shill projects — or $20,000 for a retweet.</p> 
<p>Another painful reminder not to believe everything you see on social media.</p> 
<p> You might also like: <a href="https://crypto.news/meme-coins-dominate-2024-over-1800-surge-whats-next/"> Memecoins dominate 2024. What’s next? </a> </p> 
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<h2 class="wp-block-heading" id="kim-kardashian"><strong>Kim Kardashian</strong></h2> 
<p><a href="https://crypto.news/tag/kim-kardashian/">Kim K</a> has a <em>huge </em>following on Instagram, and, like Lohan, used her immense public profile to endorse a little-known altcoin called <a href="https://crypto.news/us-judge-revives-crypto-lawsuit-against-kardashian-and-mayweather/">Ethereum Max</a>.</p> 
<p>British officials claimed the post “might have been the financial promotion with the single-biggest audience reach in history.”</p> 
<p>The SEC managed to get her to pay a $1.26 million penalty, and agree not to endorse cryptocurrencies on social media for three years.</p> 
<p>In that case, she was paid a jaw-dropping $250,000 to plug EMAX.</p> 
<p>The altcoin ended up rapidly losing 98% of its value after her post, leading to allegations it was nothing more than a pump-and-dump scheme.</p> 
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<h2 class="wp-block-heading" id="justin-bieber"><strong>Justin Bieber</strong></h2> 
<p>Last but by no means least, let’s spare a thought for the baby-faced crooner Justin Bieber.</p> 
<p>He shelled out a staggering $1.3 million for a <a href="https://crypto.news/tag/bored-ape-yacht-club/">Bored Ape</a> during the height of NFT mania, but the floor price of this collection has since plummeted in value.</p> 
<p>It’s difficult to deduce the exact value of his collectible at the moment, especially considering it has a number of rare attributes, but the best offer currently listed on <a href="https://crypto.news/tag/opensea/">OpenSea</a> stands at just 8.488 WETH. That’s just $28,500 at current market rates.</p> 
<p>If he was crazy enough to accept such a bid, he would end up crystallizing a loss of 97.8%.</p> 
<p> You might also like: <a href="https://crypto.news/what-can-be-done-about-crypto-scam-ads/"> What can be done about crypto scam ads? </a> </p>

5 celebrities burned by crypto

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