SUMMARY
- Logan Paul, the co-founder of PRIME, faced a significant setback with his CryptoZoo venture, which he started in fall 2021.
- The most alarming revelation in the refund terms is the decision not to release the CryptoZoo game at all.
Logan Paul, the American influencer, WWE professional wrestler, and co-founder of PRIME, faced a significant setback with his CryptoZoo venture, which he started in fall 2021. Paul’s CryptoZoo, an NFT project resembling Pokémon, allowed users to acquire NFT eggs to hatch hybrid animals, marketed as a profitable and entertaining game. However, the venture turned into a colossal failure.
In an attempt to rectify the situation, Logan offered $2.3 million worth of refunds to those allegedly scammed, but this gesture appears more tactical than genuine. The heart of the issue lies in the vast disparity between the estimated damages of $18.5 million, derived from Zoocoin and NFT sales, and the proposed refund amount of a mere 12 percent.
Logan’s condition for the refund is particularly eyebrow-raising, dropping ongoing lawsuits seeking larger damages. This condition transforms the refund into a strategic move to avoid severe legal consequences, leaving victims with compensation that hardly reflects their losses. A one-month claim window and a hasty refund process imply insincerity in addressing the concerns of CryptoZoo investors, heightening skepticism.
Additionally, Logan Paul’s separation of Zoo Tokens from Egg Nets downplays the significance of the former in causing damage. Despite acknowledging Zoo Tokens’ role in supporting the game, Logan labels buyers as gamblers, contradicting their intended purpose. Refunds overlook buyers of in-game currency, causing substantial losses and unfulfilled promises, highlighting flaws in Paul’s approach.
The most alarming revelation in the refund terms is the decision not to release the CryptoZoo game at all. This contradicts promises made to investors, adding insult to injury for those who spent years anticipating the fruition of a game they believed in. Investors’ disappointment deepens as millions in NFTs and in-game tokens prove elusive, intensifying the realization of substantial financial losses.
Logan Paul’s lawsuit thinly veils an attempt to co-opt and repackage Coffeezilla‘s investigative work as his own. In a surprising turn of events, Logan claims to have filed a lawsuit in federal court in Texas, alleging bad actors are ruining the crypto space. However, it is revealed that the lawsuit he links to in his tweet is the very lawsuit in which he is a defendant.
Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at https://t.co/XIQzLAGKiG. Claims can be submitted through this site… pic.twitter.com/VMPDHvdXkq
— Logan Paul (@LoganPaul) January 4, 2024
Moreover, the content of Paul’s lawsuit mirrors Coffeezilla’s year-long investigation into the CryptoZoo project, where the WWE Superstar now accuses his employees, including Eddie Ibanez, of deceitful practices. The lawsuit shamelessly lifts details, phrases, and findings from Coffeezilla’s work without proper citation. Logan attempts to present himself as a diligent investigator while conveniently omitting his earlier involvement and errors in managing the CryptoZoo project.
The lawsuit’s apparent strategy is to leverage refunds as a bargaining chip to avoid legal consequences and evade accountability for the promised but undelivered crypto game, which generated substantial revenue. This saga exposes Logan Paul’s attempt to use legal action to whitewash his role, while simultaneously discrediting Coffeezilla’s investigative efforts, creating a perplexing narrative of appropriation and evasion.
Making a video on the Logan Paul situation: i’m super happy some of the victims will get refunded 1 year later.
but let’s not pretend there isn’t ulterior motives. Logan is being crushed in a lawsuit right now. As usual he’s trying to save his own skin. pic.twitter.com/ESmeE8gP1x
— Coffeezilla (@coffeebreak_YT) January 5, 2024
Coffeezilla continues to expose Logan Paul’s every move with an inferior motive; where, when, and how this saga ends are unanswerable at this moment in time. Coffeezilla still calls CryptoZoo a “massive con” and Logan Paul a “scammer.” It remains to be seen if Logan Paul will transparently address the grievances of those wronged by CryptoZoo. What are your views on this? Is Logan Paul a scammer? Tell us in the comments below.