Internet celebrity Logan Paul has apologized and dropped his lawsuit against YouTuber CoffeeZilla, who he accused of launching an NFT game project with all the hallmarks of a rug-style scam, in which project creators sell their creations as something legitimate to convince investors to buy your tokens or NFTs, but without Deliver what you promised.
CoffeeZilla, famous for denouncing scams in the cryptocurrency market, has released a series of three videos with over an hour of content. In the investigation, Stephen Wendeisen – the investigator behind the pseudonym CoffeeZilla – turns up several pieces of evidence that the failure of the Logan Paul-created CryptoZoo project is nothing more than a coup.
CryptoZoo has been promoted by Logan Paul as “a really fun game that makes you money”. The premise of the project is that investors can buy NFTs that represent animal eggs, using the project’s token, $ZOO, and then “crossbreed” the eggs to generate new, rarer animal NFTs.
The problem is, CryptoZoo never worked. After the disastrous launch in 2021, Logan Paul pushed the issue under the rug and never spoke again about the game he created himself.
To back up its claims, CoffeeZilla has spoken to several investors who lost between $15,000 and half a million dollars buying CryptoZoo tokens and NFTs, as well as developers involved in the project who allege Logan Paul defaulted.
Logan Paul’s answer
The list of accusations against Project Logan Paul in the CoffeeZilla videos is long. However, the influencer refused to respond to them when the series was in production. But when the videos were posted and gained a lot of repercussions online, Paul decided to talk about it.
In the seven-minute video, Paul refuses to admit any blame for the failure of CryptoZoo and devotes most of the time to criticizing the Covesela investigation and himself, accusing him of being a biased journalist who uses an influencer’s image to make money. Finally, Logan Paul threatened to sue CoffeeZilla for libel.
The response to Logan Paul’s response video was so negative that shortly after it was posted, he disabled comments on YouTube before deciding to remove the video altogether.
On Saturday (7), CoffeeZilla he wrote On Twitter, Logan Paul himself called him to say he was dropping the lawsuit. “I hope this time [Logan Paul] Take responsibility and compensate the victims of CryptoZoo. That’s what matters,” Kovezilla tweeted.
On the CryptoZoo Discord community, Logan Paul apologized for the response video he posted, calling the action “reckless and out of line with the real problem.”
I will take responsibility, apologize and make a plan in the near future. Thank you all for believing in this project and staying with me. I know it has been hard, but your support means everything to me and I will fix that,” Logan Paul promised, without elaborating on whether he would compensate investors who lost money in CryptoZoo.
Logan’s response: His response was “hasty and out of step with the real problem.”
He will take “accountability, apologize, and come up with a plan.” pic.twitter.com/nI2tyQd28i
– Coffeezilla (coffeebreak_YT) January 7, 2023
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