Investors in Logan Paul’s troubled NFT gaming project CryptoZoo are reportedly still awaiting specific details on the 1000 Ether (ETH) redemption (worth $1.93 million at current prices) promised in January.
In a YouTube video job On June 30, “Internet sleuth” Coffezilla – the person who originally brought the project’s problems to light in December 2022 – claimed that Paul’s communication with the CryptoZoo community had dried up in recent months:
“It’s been six months, so here’s a follow-up. Logan Paul did not reimburse his victims, he has not spoken about it since he announced that he was going to reimburse them. And worst of all, he doesn’t seem to have a plan in place to pay anyone back.
“How do I know that?” Well because I asked Logan about this plan to pay people back, all the time, behind the scenes,” he added.
CryptoZoo was launched in September 2021, aiming to be an NFT farming game offering opportunities to earn ZOO tokens and NFTs, with Paul himself describing as a “really fun game that makes you money”.
However, with lackluster NFT artwork seemingly ripped from Adobe Stock images, NFT and ZOO token prices, and an apparent failure to deliver on the roadmap, investors grew disgruntled by the end of 2022.
After facing a strong community backlash following Coffezilla’s series of exposure videos on CryptoZoo, Paul finally announced an investor repayment plan on January 14, while pledging to follow the project roadmap.
However, that didn’t stop CryptoZoo and Paul from being hit with a class action lawsuit the following month.
My 3-step plan for CryptoZoo, including a $1.3 million rewards program for disappointed players.
THANKS, @coffeebreak_YT pic.twitter.com/xFX017UHoc
— Logan Paul (@LoganPaul) January 13, 2023
In Coffeezilla’s latest video, he shared screenshots of email communications with Paul’s attorney, Jeffrey Neiman of the MNR law firm, which seem to suggest a concrete plan hasn’t gone away. yet been established.
“We represent Logan Paul. Mr. Paul updated us on your communication on the status of the CryptoZoo egg buyback. Mr. Paul remains committed to this process. We are working with Mr. Paul to assess how best to achieve this goal,” the email read.
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Coffezilla then raised issues with this statement, as he pointed to the simplicity of paying blockchain developers to quickly write the code for the redemption process, while also claiming that Paul is clearly wealthy enough to make investors whole.
“So you’re still in front of the whiteboard?” Guys, that’s a statement you say when you don’t have a plan, or you’re stalling, (…) I mean that’s where Logan was back in January, he was evaluating.
“Am I supposed to believe that six months later you haven’t figured this out?” he added.
Logan Paul is definitely the type of guy to thank you when you expose his scam, then block you when you remind him to pay. pic.twitter.com/wI1o3ilD5S
— Coffeezilla (@coffeebreak_YT) June 30, 2023
As of this writing, Paul has yet to post a response on YouTube or Twitter.
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