YouTuber reveals all
Renowned internet detective Coffeezilla claims that Logan Paul is still dragging his feet in regard to paying back investors of his failed crypto project, Cryptozoo. He made the comments during an appearance on The Joe Rogan Experience podcast, uploaded to YouTube on Tuesday.
the biggest story I have ever reported on.”
Coffeezilla, real name Stephen Findeisen, labeled the Logan Paul Cryptozoo saga “the biggest story I have ever reported on.” Paul began promoting CryptoZoo in 2021 and secured millions in investments. However, he ultimately abandoned the project, leaving those who bought in significantly short changed.
Despite claiming he planned to refund $1.7m to those who purchased NFTs through his site, Logan Paul supposedly still hasn’t paid any investors back. “I’ve actually reached out to him twice,” Coffeezilla said. “It’s been nearly two months now since he said he was going to do this. There’s no way to get a refund right now.”
The Cryptozoo Saga
During his appearance on Joe Rogan’s podcast, Coffeezilla explained a little about Cryptozoo, deeming it a “classic crypto greed project.”
Cryptozoo allowed investors to purchase NFTs, in the form of eggs, as well as tokens. Users purchased Zoo Tokens to buy eggs which would then hatch into animals that would earn more Zoo Tokens. “You invest up front and then you get the tokens back out which you can sell,” Findeisen explained.
people were left miserable.”
He claimed that the site sold $3m in NFTs and “tens of millions” in tokens, but when the egg hatching failed to work, media personality Logan Paul and others abandoned the project. “He promises you the world – a fun blockchain game that earns you money – and he did nothing,” Coffeezilla said. “The project was left abandoned and people were left miserable.”
Not only has Logan Paul failed to refund the NFTs, according to Coffeezilla, he has also failed to promise any money to those who purchased the tokens. “The NFTs were only a small part of the sales,” the YouTuber explained. “They actually weren’t even half, because people were investing in the tokens. So these people get nothing.”
A very public dispute
When Coffeezilla released a three-part video series on YouTube to expose the investor losses in December 2022, Logan Paul threatened to sue him. However, Findeisen claims that a severe backlash to that reaction led Paul to publicly promise the money back to NFT investors in January.
CryptoZoo is actually now facing a lawsuit of its own spearheaded in part by prominent attorney and YouTuber Tom Kherkher. It accuses Logan Paul and his colleagues of “falsely claiming that, in exchange for transferring cryptocurrency to purchase the CryptoZooNFTs, purchasers would later receive benefits:”