What’s Happening With Logan Paul, Coffeezilla, And Cryptozoo?

It continues, “People often buy ‘mini pigs’ or ‘teacup pigs’ for clout online, believing they will stay small. When they inevitably grow very large and have many unexpected needs, they’re sadly discarded. In February 2022, Philadelphia culture blog Billy Penn — part of the regional NPR network — reported an investigation into the tech founder’s past. The YouTuber has since said he plans to implement a three-stage plan to try to recover buyers’ lost funds. Plaintiff Don Holland is suing the media personality and professional wrestler for promoting CryptoZoo, a venture that sold NFTs, but then never launched and has failed to return customers’ funds. It indicates a way to close an interaction, or dismiss a notification.

  • Paul, of course, dismissed Coffeezilla’s scam allegations, but he still didn’t directly comment on what’s happening with the funds that players have spent within CryptoZoo.
  • CryptoZoo still needs to pay the developers about $1 million and 5% of the tokens.
  • For the last few months, the 27-year-old was entangled in a verbal war with Andrew Tate.
  • This was, until Coffeezilla released a three part YouTube series showcasing key findings of an almost year long independent investigation.
  • In January, Paul released a video threatening to sue Findeisen, before deleting and publishing a much more contrite video, promising to fix the CryptoZoo project once again.

With more than 800 articles published, Yasser has been a part of The Sports Rush team for more than a year. Mixing passion with his profession, he aims to bring the world of wrestling to your screens in a unique yet simple manner. A lifelong fan of icons like John Cena, Randy Orton, and Jeff Hardy, Yasser has been following WWE since 2004. Other than wrestling, he also loves to play and watch cricket and sometimes enjoys binge-watching a Crime Thriller series. According to a report by Dexerto, WWE superstar Logan Paul, who was reportedly involved in CryptoZoo, has been sued.

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Coffeezilla interviewed Cryptozoo’s developer “Z,” who is holding the code hostage for $1 million, since he claims that Paul never paid him. In a response video, Paul claimed that “Z” is actually Zach Kelling, a convicted felon. Paul then plans to spend 1,000 ether tokens, valued at just under $1.7 million as of Friday, to buy NFTs from investors who want to abandon the CryptoZoo project. Logan Paul has been primexbt login named as a defendant in a lawsuit that alleges the YouTube star helped perpetrate a crypto "rug pull" scam by promoting an NFT-based project that scooped up buyers’ money. In a statement to BuzzFeed News, Paul’s legal representative Jeffrey Neiman criticized the suit. "This is a careless civil action, which is dramatically flawed and filed with the intention of generating headlines, not merit," Neiman said.

logan paul crypto scam

According to the filing, the lawsuit has been filed by an individual Dan Holland, on behalf of the victims of CryptoZoo. This is a rather drastic shift, from "I’m going to sue you" to "Coffee did nothing wrong". Maybe the backlash was just a little too much, as his recent videos have been dislike-bombed, so he decided he can’t shift the blame and has to take accountability to save his career. Sign up for Boardroom’s newsletters to get the biggest stories in the business of sports, entertainment, and culture directly in your inbox — daily. Paul finally addressed Coffeezilla’s allegations a week ago in a since-deleted video that dispels the allegations as rumors. He even went as far as to accuse the investigative crypto journalist of using his platform for clout.

Logan Paul Sued Over Involvement In Crypto Scam

This has nothing to do with crypto scam-hunter Stephen "Coffeezilla" Findeisen’s allegations that the as-yet-unreleased play-to-earn game was a scam. After going through Logan Paul’s video response to another YouTuber’s three-part series calling out his CryptoZoo NFT game as a scam, it’s hard not to come to the conclusion that investing in a Logan Paul project might not be a good idea. Owners of eggs allegedly could not hatch them until very recently, meaning the money they had sunk into the game gave them no returns yet. Especially for gen-z investors such as myself, the idea of video gamifying crypto and creating (in Logan’s words) “ a game where you also make money” sounds pretty interesting? Unfortunately, however, when you look deeper into Cryptozoo the red flags become apparent quite quickly.

  • On its launch day on Sept. 3, 2021, the project’s initial 10,000 “Base Eggs” sold out within minutes.
  • Discussion of ways to get around SEC rules in order to make the founders money at the cost of their investors.
  • This is connected to the alleged misinformation Coffeezilla is spreading with his videos as well as an "illegal recording" being used in the three-part YouTube series.
  • It reminded everyone who they are dealing with when it comes to Logan Paul.
  • Dan says that when he tried asking questions about progress in the project’s Discord group chat, the creative team would give vague responses and deny anything was amiss.
  • It seemed like some time in 2021, they abandoned the project, thus causing hundreds of investors to lose millions of dollars collectively.

“I got everything stolen from me and our community,” Paul said of the CryptoZoo fiasco, claiming that he and his manager Jeffrey Levin have only lost money on CryptoZoo. Blog has not published a new post since April 2022, and neither its Instagram nor Twitter page have posted any new content since May 2022. As for Paul, he posted a video in January titled “Why 2022 Was the Best Year of My Life.” It made no mention of CryptoZoo or Liquid Marketplace. Paul has not tweeted about Liquid Marketplace or posted in the Liquid Marketplace Discord since July.

Logan Paul, Alongside Others, Faces A Class Action Lawsuit For “his Role In Cryptozoo”

Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at Regardless, Paul intends to take legal action against Findeisen for the trio of Coffeezilla YouTube videos.

logan paul crypto scam

After Logan Paul’s CryptoZoo game failed to let players withdraw money, Youtuber Coffeezilla investigated and accused him of scamming everyone involved. CryptoZoo still needs to pay the developers about $1 million and 5% of the tokens. I am pleased to give the GitHub repos, which demonstrates that it was certainly a massive effort by almost 30 team members. “In his statement, Kelling denied Paul’s initial claim that Kelling only employed three engineers. Kelling called Paul’s response video “defamatory” and suggested it was a personal attack in a LinkedIn post.

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Paul called out several "bad actors," who he says may or may not have stolen millions of dollars from investors — he remained vague while making this point in his video — but were later fired. It seems WWE and its relationship with lawsuits is going to be a never-ending tale. Believe it or not, the company is seeing more action outside the ring than inside. In 2023 itself, four cases have been filed against Vince McMahon since his shocking return.

After the failure of Logan Paul’s CryptoZoo game to allow players to withdraw their crypto funds, Youtuber Coffeezilla investigated and accused him of scamming everyone involved. In this article, we’ll cover the Logan Paul Scam And CoffeeZilla Latest Updates. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.