SUMMARY
- CryptoZoo was a heavily promoted NFT project and game peddled by Logan Paul in 2021.
- As a result, there was a lot of hate and accusations hurled at Logan, branding him as a scammer.
Recently, Logan Paul announced that he would finally be making good on his past wrongs. In what has been a long-overdue move, Paul promised to refund the people who invested in CryptoZoo. However, as has been the case with him, many have found faults in his so-called ‘promise’.
For those unaware, CryptoZoo was a heavily promoted NFT project and game peddled by Paul in 2021. Having publicly endorsed that game, ‘The Maverick’ drew in a significant number of investors. Unfortunately, things quickly turned sour after players lost a lot of money and were unable to cash out of the game.
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
As a result, there was a lot of hate and accusation hurled at Logan, branding him as a ‘scammer’. Although he often reiterated his innocence in the case, people had lost their life savings on the game. Notably, even his former friend and ex-podcast host George Janko vouched for the WWE star’s innocence. According to Logan, the failure of the project can be attributed mainly to certain ‘bad actors’.
With that said, in his recent statement, Logan stated that he would be putting in $2.3 million of his own money to sort out the crisis. Further, he claims to have filed a lawsuit in federal court in Texas against the ‘bad actors’ for stealing the money and sabotaging the project. Despite the initial response to his actions being a positive one, certain personalities have once again emerged, accusing him of pulling the wool over people’s eyes.
Logan Paul reveals that CryptoZoo is now dead in the water
As expected, Coffeezilla, who previously exposed the ‘scam’ has once again returned. In the past, the YouTuber made a name for himself by meticulously deconstructing the entire fiasco. Initially, Paul even thanked Coffeezilla for bringing the ‘scam’ to his attention. However, he would subsequently go on to block the YouTuber from his social media accounts and make response videos against him.
Eventually, things subsided, and both parties moved on, vowing to one day finish the saga. As such, with new developments, it was only right that Coffeezilla return and give a more detailed explanation of the facts of the matter. For one, he believes that what Logan is doing is trying to limit the heat and the damage to himself under the false pretense of a ‘refund’. One of the main points he raised was the fact that CryptoZoo is now finished.
In the long wording of his response, Logan seemingly admitted that CryptoZoo as a project will not be released. For the most part, he states that there are too many ‘regulatory hurdles’ preventing the project from coming to fruition. This comes after repeated promises in January 2023 that the game would return, allowing people to reinvest or cash out.
Further, Coffeezilla also pointed out how Logan will only refund on the condition that all claims against him are waived. Further, he has only promised a month-long window for the buyback of the tokens. Not only that, but the estimated damages to CryptoZoo are around the $18.5 million mark. Out of this, Logan has only promised to reinvest $2.3 million. Thus, with more clarity needed, it will be interesting to see how things progress from here.