Renowned YouTuber Logan Paul is facing criticism once more for not refunding CryptoZoo NFT purchasers, even six months after committing to the reimbursement.
In a recent video, crypto journalist Stephen Findeisen, widely recognized as Coffeezilla, pointed out that Paul hasn’t yet compensated the individuals impacted by his controversial CryptoZoo project.
“Coffeezilla stated, “Paul hasn’t followed through on his promise to compensate those affected. Since his initial commitment, he’s been silent on the issue. Most concerning is the lack of a clear strategy to make these reimbursements.”
Coffeezilla also noted his persistent efforts to get a response from Paul regarding the refund status, but to no avail.
Coffeezilla eventually received feedback, not from Paul directly, but from his criminal defense attorney who indicated that they were still determining the “most effective method to achieve this objective.”
However, the crypto journalist expressed that the reply from Paul’s lawyer was even “more disappointing” than he had anticipated, given the absence of both a specific timeframe for reimbursements and a clear strategy.
Coffeezilla commented, “This is the kind of statement made when there’s either no tangible plan in place or there’s deliberate stalling.”
He implored, “Just settle the debts, provide a genuine timeline and a concrete plan, and then we can perhaps believe once again that you’ve turned over a new leaf.”
The Logan Paul-Coffeezilla Cryptozoo Controversy Explained
Launched in September 2021, CryptoZoo entered the scene amidst much hype, with Logan Paul being a key figure and co-founder of the project.
Before its debut, Paul sang its praises, portraying the game as groundbreaking in the crypto realm. He assured his followers of a dual benefit: a fun gaming experience combined with an opportunity to earn.
Central to the game was its native cryptocurrency, ZooCoin. Players could acquire “eggs” which would subsequently unveil random animals of varying scarcities.
These creatures, once hatched, could be interbred to yield hybrid animals that would function as NFTs. Players had the option to retain these NFTs or “burn” them, supposedly enabling them to earn more ZooCoins and, in turn, promising substantial returns on their initial investments.
In a trilogy of videos released towards the close of 2021, Coffeezilla asserted that CryptoZoo was largely left in the lurch shortly after its grand debut.
He accused Paul of stepping back from the initiative, a marked contrast to the vigorous promotion and enthusiasm he displayed leading up to its launch.
Coffeezilla spotlighted the plight of purchasers, many of whom were avid fans of Paul. He emphasized that they encountered numerous issues with the game. Critical functionalities, like the hatching of eggs, were reportedly inaccessible to a significant number of users, leading to losses amounting to hundreds of thousands of dollars.
One of the significant revelations from Coffeezilla’s investigation revolved around the participation of influential figures operating behind the curtains of CryptoZoo, adding another layer of controversy to the saga.
Coffeezilla’s research suggests that these backstage personalities profited immensely from ZooCoin, an action that subsequently led to the cryptocurrency’s depreciation.
In the wake of Coffeezilla’s claims, Paul retaliated with a video of his own, pinning the blame on the co-founders and consultants of CryptoZoo, accusing them of malpractice, and accusing Coffeezilla of sensationalizing the narrative. He even went as far as to hint at potential legal action against Coffeezilla.
However, in a turn of events, Paul later backpedaled on his statements, issuing an apology. He conceded that his initial reaction was impulsive and overlooked the core concerns being raised.
Furthermore, he vowed to make amends by reimbursing the affected parties – a commitment that, as of now, remains unmet.
