Logan Paul is dealing with backlash for not paying back CryptoZoo NFT buyers. The well-known YouTuber found himself in the midst of a major controversy six months ago over an NFT game project called CryptoZoo. The project promised NFTs and a ZOO token. But, disappointingly, the game never saw the light of day. Now, the popular YouTuber and influencer is facing renewed criticism. Let’s take a closer look.
TL;DR:
CryptoZoo Scandal: Logan Paul’s Pledge to Refund NFT Buyers Falls Flat
The situation first escalated in January. Markedly, when YouTube investigator Stephen “Coffeezilla” Findeisen and others criticized Logan Paul for allegedly misleading his audience and NFT buyers. In response, on January 13, Paul released a video outlining his “three-step plan” to address the issue. However, just one month later, Paul faced a class-action lawsuit. This accuses him and his team of deceiving and rug-pulling CryptoZoo buyers.
The project was labeled a scam by many and Logan Paul’s pledge to refund NFT buyers seemed to offer hope for resolution. Yet, according to Coffeezilla, Paul has remained silent on the matter since his initial announcement. Thus, leaving victims in the lurch without any clear plan for reimbursements.
Seeking Answers and Accountability
Despite constant efforts to seek updates from Paul, Coffeezilla received no response. After reaching out to the victims and closely monitoring their public Discord chat throughout the year, he found that Logan Paul had not fulfilled any of his commitments to NFT buyers. Despite making a public statement and taking credit for his plan, Paul seemed to have vanished from the victims’ lives.
It was only after reaching out to Paul’s criminal defense lawyer that Coffeezilla got a reply. Logan Paul’s team claims they are still evaluating the best approach to offer refunds to NFT buyers. Coffeezilla expressed disappointment with the lawyer’s response, as it lacked a specific timeline or concrete plan for restitution.
One of the key promises in Logan Paul’s video addressing the NFT scandal, was that he and his manager, Jeffrey Levin, would burn their $ZOO tokens, essentially destroying them to ensure they couldn’t profit from them. However, upon scrutinizing the official ZOO contract outlined in the token’s whitepaper, there is no concrete evidence that Paul or Levin ever burned any of their ZOO tokens. Furthermore, a wallet designated for token burns, ending in 0x6D, reportedly burned 1.5 billion ZOO tokens after the initial NFT release but has remained inactive since March 2022.
Ultimately, the lack of action and transparency from Logan Paul and his team for those who bought the NFT has left many frustrated and disappointed. As Coffeezilla continues to advocate for the victims, it is clear that the fallout from the CryptoZoo controversy is far from over. The YouTuber’s reputation and integrity are still on the line as the community eagerly awaits answers and accountability.
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