Logan Paul hasn’t refunded fans who lost money on CryptoZoo
YouTube star and controversial figure Logan Paul is facing a class-action lawsuit and allegations of scamming investors with his CryptoZoo project. Paul, known for his online antics and large following on various social media platforms, released CryptoZoo in 2021, an animated NFT project described as a game that allows users to collect and trade exotic animal hybrids on the blockchain. The initial 10,000 NFTs sold out quickly, but the promised game never materialized. Investors who paid over $1,100 for the NFTs were left furious and empty-handed.
In January 2022, Paul unveiled a $1.5 million recovery plan to compensate disgruntled investors and vowed to finish the game. However, one month later, a class-action lawsuit was filed against Paul and CryptoZoo, alleging that they had engaged in a fraudulent venture and stolen millions of dollars from investors. The lawsuit claims that Paul and the CryptoZoo team intentionally avoided creating a functional game and defrauded consumers.
Stephen “Coffeezilla” Findeisen, an internet detective who investigates online scams, played a pivotal role in exposing the alleged scam. Findeisen published a three-part YouTube series in December 2022, highlighting the project’s failures and interviewing individuals who claimed to have lost money. The videos went viral, and Findeisen appeared on the popular “Joe Rogan Experience” podcast to discuss his findings. To date, none of the investors have been compensated.
According to Findeisen, Paul owes more than $3.6 million to investors, and Crypto Zoo’s chief engineer, Zach Kelling, claims Paul owes him at least $1 million for his work on the project. Paul’s behavior during this ordeal has drawn criticism, as he reportedly doxxed Kelling and subjected him to public attacks, causing significant personal and professional issues.
Several victims of the alleged scam have expressed their anger and disappointment. Some have called for government action while others have demanded jail time for Paul. Despite the ongoing lawsuit and accusations, no government regulators have accused Paul of criminal conduct in relation to CryptoZoo.
Logan Paul’s reputation has taken a significant hit, and the lawsuit filed by his former fans speaks volumes about the damage he has caused. Stephen Findeisen remains committed to helping the victims recover their funds and believes it is time for Paul to fulfill his promise of refunding investors.
FAQs:
1. What is Logan Paul accused of?
Logan Paul is accused of scamming investors with his CryptoZoo project, an animated NFT project that promised users a game to collect and trade exotic animal hybrids on the blockchain.
2. What happened to the investors who bought CryptoZoo NFTs?
Investors who paid over $1,100 for CryptoZoo NFTs were left empty-handed as the promised game never materialized.
3. Has Logan Paul taken any steps to compensate the investors?
In January 2022, Logan Paul announced a $1.5 million recovery plan to compensate disappointed investors. However, reports suggest that no refunds have been issued, six months later.
4. What is the class-action lawsuit against Logan Paul and CryptoZoo?
A class-action lawsuit has been filed against Logan Paul and CryptoZoo, alleging that they engaged in a fraudulent venture and stole millions of dollars from investors.
5. Who is Stephen Findeisen, and what role did he play in exposing the alleged scam?
Stephen Findeisen, also known as “Coffeezilla,” is an internet detective who investigates online scams. He published a three-part YouTube series exposing the failures of CryptoZoo and interviewed individuals who claimed to have lost money. His videos went viral, and he appeared on the “Joe Rogan Experience” podcast to discuss his findings.
6. How much does Logan Paul owe to investors?
According to Stephen Findeisen, Logan Paul owes more than $3.6 million to investors, while CryptoZoo’s chief engineer claims Paul owes him at least $1 million.
7. Has Logan Paul responded to the accusations and lawsuit?
Logan Paul has not responded to requests for comment regarding the accusations and lawsuit.
8. Has Logan Paul been accused of any criminal conduct?
To date, no government regulators have accused Logan Paul of any criminal conduct in connection with CryptoZoo.
9. What is the current status of the CryptoZoo project?
The CryptoZoo game promised to investors has never launched, and there is no indication that it will materialize.
10. What actions are the victims of the alleged scam demanding?
Some victims are calling for government action, while others are demanding jail time for Logan Paul. They also emphasize the need for Paul to take responsibility and refund the investors.
Logan Paul Fails to Provide Refunds to Fans Who Suffered Financial Losses on CryptoZoo
Renowned YouTube star, professional boxer, and wrestler Logan Paul has once again found himself embroiled in controversy. Throughout his career, Paul has been involved in a number of scandals, ranging from promoting alleged UFO videos to endorsing a questionable energy drink called Prime, which has now come under scrutiny from New York Senator Chuck Schumer, who is urging the FDA to investigate its safety. Furthermore, Paul faced severe backlash after posting a video that featured a dead body in Japan’s Aokigahara “suicide forest” and engaging in controversial acts such as tasering dead rats and performing CPR on a koi fish, which led to condemnation from animal rights organization PETA.
However, in addition to these controversies, some have accused the 28-year-old social media influencer, who boasts an impressive following of 23.6 million subscribers on YouTube, 25.9 million followers on Instagram, and 17.7 million followers on TikTok, of being involved in cryptocurrency scams. In the fall of 2021, Paul introduced CryptoZoo, an animated NFT (non-fungible token) project inspired by the popular franchise Pokémon. Marketed as a “fun game that makes you money,” users were promised the opportunity to breed, collect, and trade unique animal hybrids on the blockchain for a price of just over $1,100. According to the Coinbase platform, the more rare the animal, the higher the daily yield of in-game currency, known as Zoo tokens, would be.
Among Paul’s numerous controversies, the promotion of the energy drink Prime has also added fuel to the fire. Following Schumer’s call for an FDA investigation into the caffeinated version of the drink, it has become evident that Paul’s ventures often carry risky implications.
Unfortunately, despite the initial success of selling out the first 10,000 NFTs, the CryptoZoo game itself never materialized, leaving investors infuriated. As of now, there is still no sign of the promised game. In an attempt to compensate disappointed investors, Paul, who reportedly has a net worth of $245 million, unveiled a $1.5 million recovery plan in January 2022. The plan aimed to reimburse players and ensure the completion of the game. However, just one month later, a class-action lawsuit was filed against both Paul and CryptoZoo by a group of investors who accused them of involvement in a fraudulent venture and embezzling millions of dollars. The named plaintiffs in the lawsuit refrained from commenting due to fears of potential retaliation.
The ongoing lawsuit against Paul and CryptoZoo alleges that they intentionally deceived consumers by evading the creation of a functional CryptoZoo game and undertaking fraudulent activities instead. The lawsuit might never have come to fruition without the relentless work of Stephen “Coffeezilla” Findeisen, an online scam investigator. Findeisen, who describes himself as an internet detective, dedicated over a year to investigating the CryptoZoo project. In December 2022, he released a three-part YouTube series exposing the multiple ways in which the NFT project failed investors, featuring interviews with numerous individuals who claimed to have suffered financial losses. One of the most severely impacted victims was an Australian citizen who lost nearly $335,000 in investments but chose to remain anonymous due to concerns over potential repercussions.
The release of Findeisen’s videos gained significant traction, leading to his appearance on the globally renowned podcast “Joe Rogan Experience” in March 2023, where he discussed his findings. To this day, Findeisen asserts that not a single investor has received any compensation. Paul, in a video published in January 2022, claimed to have apologized to Findeisen after accusing him of exploiting Paul’s name for personal gain and publishing defamatory content. Paul also stated that suing Findeisen would not benefit CryptoZoo holders. According to Findeisen, who currently has almost 3 million subscribers on YouTube, Paul owes investors more than $3.6 million.
Additionally, Zach Kelling, the chief engineer for CryptoZoo, disclosed that Paul owes him at least $1 million for his contribution to the project. Kelling revealed that Paul exposed his personal information in a widely viewed attack video on YouTube, falsely attributing the project’s failure to Kelling’s team and creating a blacklisting of their tokens. Consequently, Kelling received death threats and jeopardized the safety of his family. Although Paul has since removed the attack video, Kelling, a native of Kansas City, expressed regret over his involvement with Paul and his team, citing the severe negative impact it had on his personal life and professional career.
Findeisen granted The Post access to a Discord group composed of CryptoZoo victims, all of whom requested anonymity due to fear of potential retaliation. One member going by the username “cptdandan” claimed to have lost $110,000, while another victim stressed that a mere refund would not be sufficient, suggesting that jail time for Paul would be more appropriate, although it is highly unlikely. This victim concluded that some form of government intervention was necessary. Presently, no government regulators have accused Paul of any criminal activities in connection with CryptoZoo. Another disgruntled commenter described Paul’s actions as deplorable and criticized his attempts to evade responsibility. This individual argued that Paul needed to acknowledge his mistake and take appropriate action.
Apart from his involvement in the CryptoZoo scandal, Paul is known for his endeavors in the WWE (World Wrestling Entertainment) and his participation in high-profile boxing matches.