Despite the hype, EthereumMax lost 93 percent of its value in just two months. In January 2022, ten plaintiffs filed a lawsuit against the company for making false or misleading statements to investors through social-media advertisements that disguised their control over a large percentage of the tokens. “It just stood out as one of the most egregious examples of a crypto scam,” said John Jasnoch, the plaintiffs’ lawyer, when I interviewed him.