Logan Paul, the popular YouTube star, professional boxer, and wrestler, is well-known for his controversial actions. Not only has he faced backlash for promoting alleged UFO videos and the questionable energy drink Prime, which is currently being investigated by the FDA, but he has also sparked outrage by posting a video featuring a dead body in Japan’s “suicide forest” and engaging in disturbing acts with dead animals.
Despite his massive online following of 23.6 million YouTube subscribers, 25.9 million Instagram followers, and 17.7 million TikTok followers, some have accused the 28-year-old of being involved in a crypto scam. In the fall of 2021, Paul introduced CryptoZoo, an animated NFT project inspired by Pokémon that claimed to be a profitable and enjoyable game. Users could spend just over $1,100 to partake in activities such as hatching, breeding, collecting, and trading exotic animal hybrids on the blockchain. The more rare the animal, the higher the daily yield of in-game currency known as Zoo tokens.
One of Paul’s controversial ventures involved the promotion of the energy drink Prime, which has now caught the attention of New York Senator Chuck Schumer, leading to an FDA investigation into the caffeinated version of the beverage.
Although the initial 10,000 NFTs for CryptoZoo sold out quickly, the promised game never materialized. This left investors in a state of anger and disappointment. In an attempt to rectify the situation, Paul, who is reportedly worth $245 million, unveiled a $1.5 million recovery plan in January 2022 to compensate disgruntled investors. The plan included a rewards program for disappointed players and a promise to complete the game. However, shortly after, several investors filed a class-action lawsuit against Paul and CryptoZoo, accusing them of engaging in a fraudulent scheme that resulted in the theft of millions of dollars from investors.
The lawsuit alleges that Paul and the CryptoZoo team deliberately chose not to develop and support a functional game, opting instead for a fraudulent venture. Stephen “Coffeezilla” Findeisen, an online scam investigator, played a crucial role in exposing the CryptoZoo scam. Findeisen published a three-part series on YouTube in December 2022, uncovering the project’s failures and interviewing numerous individuals who claimed to have lost money. His videos gained significant attention, and he even appeared on the popular “Joe Rogan Experience” podcast to discuss his findings.
According to Findeisen, not a single investor has received compensation, and he estimates that there are tens of thousands of victims owed over $3.6 million by Paul. Additionally, Zach Kelling, the chief engineer of CryptoZoo, claims that Paul owes him at least $1 million for his work. Kelling revealed that Paul publicly attacked him, leading to death threats and significant negative consequences in his personal and professional life.
Victims of the CryptoZoo scam, who fear retaliation, have formed a Discord group to share their experiences. They express their desire for justice, with one victim stating that while a refund would be appreciated, they ultimately hope for more substantial government action against Paul. It’s important to note that no government regulators have accused Paul of any criminal conduct related to CryptoZoo.
As for Paul’s response, he has remained silent on the matter and has not provided any comments or explanations. Findeisen, on the other hand, remains dedicated to helping the victims recover their lost funds. He firmly believes that Paul needs to fulfill his promises and take responsibility for scamming his fans.
In conclusion, Logan Paul’s involvement with CryptoZoo has resulted in a significant controversy and a class-action lawsuit, with many investors alleging fraudulent behavior. Stephen Findeisen, an online scam investigator, has played a crucial role in exposing the scam and advocating for the victims. The victims themselves express their disappointment and desire for justice, with hopes that Paul will face the consequences of his actions.
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