SEC fined Steven Seagal for advertising ICO. The actor did not disclose information about the funds received for the promotion of the project, which could mislead investors, the Commission explained.
Since the ICO, the price of the Bitcoiin2Gen token advertised by Segal has fallen by 99%.
do you think celebrities know that they advertise scam projects or they just dont understand what they are doing? I think this is a big problem for the market
As long as they get paid, they don't really care about what they are advertising for. I doubt they hardly even know anything in details about what they are advertising. They just get paid and do what they are told to do. Now if someone gets scammed by investing on those projects just because a celebrity advertised it, then yeah that is really really sad and kinda a deserve to lose their money.
Just don't invest blindly by reading articles or looking at advertisements. Do your own analysis before you put your money at risk.