Logan Paul from the NFT CryptoZoo project, accused of scamming his audience, has returned to assert his version in a new documentary. 

Logan Paul and the new documentary: his version on his NFT project CryptoZoo

Logan Paul, famous YouTuber and WWE fighter, is back in the spotlight with his NFT project CryptoZoo that, in the past, caused investors to lose money. Specifically, Paul once again claims that CryptoZoo is not a scam. 

In a new documentary “5 Months with Logan Paul”, journalist Graham Bensinger met with Paul and, regarding CryptoZoo, stated that Paul’s exposure “has led people to lose money”.

On this subject, here is how Paul responded: 

“Everything you just said has an element of truth. The problem is this. What you just described is not a scam. I took on a project that I simply wasn’t able to handle at that time. […] I didn’t make any money, brother. I lost half a million dollars on this project. Where’s the scam?”.

CryptoZoo was announced 3 years ago, with the launch scheduled for September 2021, but Paul’s NFT project still does not exist. In practice, Paul and his team sold NFTs and released a ZOO token, but the game has never materialized. 

With this documentary, Paul would like to confirm his version that his NFT project was difficult for him to manage, but that it was not a scam to investors. 

Logan Paul and the new documentary about his NFT project CryptoZoo

Continuing with the documentary, Paul also stated that he had suicidal thoughts because of his CryptoZoo project. He felt like he was entering a tunnel, from which he was able to come out.

Another thing that Paul does in the documentary dedicated to him is to promise that he will “take care” of those who have plotted to make it seem like he has set up his scam. 

In this regard, Logan Paul had received a class action, or collective legal action, in February 2023, precisely for the never-happened launch of CryptoZoo.

Not only that, such legal action is of the “rug pull” type, accusing Paul and his team of raising funds for a new token or NFT collection, without keeping the promises made about the benefits and advantages but abandoning the project and keeping the buyers’ funds.

And indeed, the accusations against the defendants speak of trading NFTs to buyers, claiming that they would have received benefits, rewards, and exclusive access to other crypto resources at a later time, as well as the support of an online ecosystem for using and trading NFTs. 

Refund to defrauded investors

After six months from his video in which he outlined his plan to fix things, which was in July 2023, Paul had not yet refunded any of his defrauded investors.

Once again, another unkept promise for the YouTuber, who had announced his three-phase plan to fix things, which was to start refunding.

The latest news on this topic, then, arrived at the beginning of January 2024, when Paul stated that he will “buy back” the CryptoZoo NFTs, but even here there would be a “scam”.

Basically, the program provides that holders of NFTs receive 0.1 ETH for each eligible NFT, but they must also waive any current or future claims against Paul. 

YouTuber and WWE fighter Logan Paul has yet to refund buyers of his CryptoZoo NFT game plan, accused of being a scam. 

Six months after his video outlining his plan to make things right, the promises he made have still not been fulfilled. 

Logan Paul of CryptoZoo NFT: the scam game and six-month-old promises not kept

According to what has emerged, it appears that Logan Paul, the YouTuber who launched his CryptoZoo NFT game project in 2021, appears to have scammed his audience. Basically, Paul and his team sold NFTs and released a ZOO token, but the game never materialized.

Because of this, the YouTuber, allegedly released a video of his own, a full six months ago, in which he announced how he was going to fix things in a “three-step plan,” which has yet to be fulfilled. 

Indeed, investigating the case from the very beginning was Stephen “Coffeezilla” Findeisen who reportedly stated the following:

“I’ve spoken to the victims and have been watching their public Discord chat all year. The last time Logan communicated with them was in January. I’ve also reached out to Logan several times asking about this.

According to the victims, there [have] been zero payments. There’s no excuse for this. Logan made a public statement about this, took credit for it, and has ghosted the victims.”

The only thing that is certain about the influencer is the February 2023 class action lawsuit alleging that Paul and his team deceived CryptoZoo buyers with a “knockout punch.”

In the meantime, however, what are Logan’s unfulfilled promises to the cheated buyers of CryptoZoo NFT?

Logan Paul of CryptoZoo NFT: the lie about the ZOO token burn

An early promise Paul made in his video with over 330,000 views, states that he and his manager Jeffrey Levin, would burn their ZOO token. 

The idea therefore is to send those ZOO tokens to a burning wallet, so that they would be destroyed, meaning that neither of them would be able to profit from their tokens. 

In the investigation carried out, however, it appears that this ZOO burn did not happen. In fact, at the moment, a game wallet used for such activity has been identified that appears to belong to those directly involved, but has been inactive since March 2022. 

BSC Scan data also record no significant ZOO burns for six months, although several burns from other wallets have occurred. 

At present, it is unclear to whom the various wallets belong, but what appears to be CryptoZoo’s game wallet holds 70% of the total token supply.

Of the other wallets that remained in the top 10 by total percentage of supply, none would execute the ZOO burn; in fact, two of them even received additional tokens, with a counter value of $15,000 each. 

Logan Paul of CryptoZoo NFT and the failure to refund buyers and more

Another statement by the YouTuber spoke of his “commitment” of $1.8 million to reimburse buyers of his NFT game project.

This is a second yet unfulfilled promise, which was aimed at holders of NFT Base Egg or Base Animal, purchased at 0.1 ETH each, equal to about $193 today. 

In this regard, a victim buyer of CryptoZoo, known by the pseudonym Just Pixel, reportedly stated the following: 

“I have invested a total [of] ~$15K. I was able to get just under $2K out before the price dropped completely to the floor. I did not get a refund. I also bought three of these egg NFTs at launch. I haven’t gotten a refund for those yet either.”

Logan Paul’s “scams,” apparently also involved his own team. And in fact, Zach Kelling, CryptoZoo’s engineer and first CTO, has reportedly been waiting since January to receive more than $1 million in fees for his work, which he said he completed with a team of 45 engineers.

CryptoZoo’s game never materialized

Finally, the last phase concerns the “CryptoZoo” game project, which actually still appears to be in development on its official website, with the same screen from 2022. 

Again, this is yet another promise from the WWE fighter that has not yet occurred. 

Specifically, CryptoZoo was announced in 2020, and it was scheduled to launch in September 2021. But even today, CryptoZoo does not in fact exist. 

As early as December 2022, there was no mention of the project on Logan Paul’s YouTube channel, which has more than 23 million subscribers. 

In any case, the ZOO token launched on the markets as early as July 2021, had touched its price high at nearly 0.5 mills in August of that year. 

Then, as early as October, ZOO lost all of its value, with only one rise to 0.25 mills in November 2021, the month of all-time highs in the crypto market.

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Last year, Logan Paul had announced the launch of his NFT project, called CryptoZoo. 

It was scheduled to launch in September 2021, but to this day CryptoZoo does not in fact exist. 

The website only says that it is still under construction and would be undergoing upgrades to the main infrastructure of the ecosystem, but it has actually been at a standstill for months now. 

Indeed, nothing has been posted on the official Twitter profile since 28 May. This is precisely why it is suggested that the implosion of the Terra/Luna ecosystem, resulting in the collapse of the crypto market, may have played a key role in the project’s failure. 

At this time on Logan Paul’s YouTube channel, which has more than 23 million subscribers, no reference to the project can be found. 

The CryptoZoo NFT project

The idea for CryptoZoo was launched in 2020 during an episode of Impaulsive, the comedy podcast hosted by Logan Paul. 

The idea was to allow players to participate in a fun NFT-based game and earn passive income.

Logan Paul himself was a promoter of the game, stating that the team had spent six months making “handmade” NFTs that would be the highlight of the project. 

According to his words, one million dollars would be raised to fund the making of the game and the creation of unique NFTs.

Indeed, in 2021 CryptoZoo launched some of its so-called NFT animals, but the hype immediately turned to disappointment. 

Yet at the time of the launch, NFT eggs of these animals worth $2.5 million had been sold. 

To acquire NFT eggs, users had to purchase in-game ZOO tokens, and once purchased, these eggs were supposed to hatch at launch so that their owners could receive their animals, breed them, and have them mate. 

The project’s ZOO token

The ZOO token was launched on the markets as early as July 2021, and just before the game’s launch in late August, it hit its peak price at nearly 0.5 thousandths of a dollar. 

However, already by October it had lost almost all of its value, only to rise to 0.25 mills in November, during the peak of the crypto market, and fall back to practically zero in May this year. 

ZOO currently loses 99.9% from its highs, so much so that it can be said that its value has practically gone to zero. 

After all, as early as December last year it had fallen to 0.02 thousandths of a dollar, and although it had risen back to 0.03 in January, with the collapse of the crypto markets in May its value also fell far below a thousandth of a dollar. 

CryptoZoo’s NFTs

The NFTs initially released were simply photos that can easily be found on the Internet and then edited. Moreover, it proved impossible to hatch the eggs, receive the animal NFTs, or get the money back. 

And as soon as criticism and accusations were raised, the system went haywire. 

Logan Paul said nothing about this. 

The apology

Only later did Logan Paul break his silence, blaming the main developer of the project who allegedly took the code to Switzerland and refused to return it unless he received a million-dollar payment.

Logan Paul then stated that he got involved with the wrong people who made mistakes and missteps, and that there was a new team working on the project. 

The developer, however, later stated that Logan Paul had hired a team to create the game, but then failed to pay them and then lost the code due to a failed negotiation. 

The project to date appears to be dead, so much so that Logan Paul himself has started another one. 

The allegations

The story may not have ended there, because now Logan Paul has been accused of fraud by several investors or clients who ended up with nothing in their hands after giving him their money. 

There are also those who claim that Logan Paul’s career is now over after this affair, and in fact he rarely posts on his YouTube channel now. 

Even on Instagram, where he has more than 24 million followers, he now posts infrequently, while he is still active on Twitter, where he has 6 million followers. 

His Impaulsive podcasts continue however. 

As of yet, he does not appear to be under indictment by authorities, but it is hard to believe he can avoid it. In fact, several celebrities have already been punished for promoting crypto scams, and at this point it’s to be believed that sooner or later they may target him as well. 

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