Felix Upton on January 4, 2024
Logan Paul has been involved in a lot of scandals since he became a public figure. The YouTuber turned WWE Superstar is now doing the right thing and paying back victims of a scam his name was involved in.
We previously reported that Logan Paul was called out again for the CryptoZoo scandal. Investors did not get their money, but now they are getting a refund of the mint price. This was a long time coming as well, but Logan Paul is doing what he can to make this right.
Logan Paul dropped a lengthy post on Twitter to explain that today is the day that he will pay back the scam victims of the CryptoZoo fiasco. He left a detailed message, along with instructions for victims to get their money back.
Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at http://EGGNFTBUYBACK.COM.
Claims can be submitted through this site through February 8. I approached the CryptoZoo project like everything else I am passionate about – with only the best possible intentions and success for everyone who shared our vision. I never made a single penny from the project, period. In fact, the opposite is true, because I spent hundreds of thousands of dollars trying to make it happen. With this buy-back program, I am personally committing more than $2.3 million to buy back Base Eggs and Base Animals from every person who intended to play CryptoZoo. Like you, I was highly disappointed that the game was not delivered.
As I said a year ago, CryptoZoo was derailed by bad actors. Bad actors who DID steal money and who betrayed our team while internally sabotaging the game. This has now been confirmed by an extensive investigation that has involved a forensic analysis of blockchain activity and the review of thousands of communications. With this evidence in mind, today, I have filed a lawsuit in federal court in Texas to hold these bad actors accountable. The 25-page lawsuit is public and it can be found here: https://drive.google.com/file/d/1bu0WMbW3co-HlXq-HlXbLdpAOZSzJKmf/view?usp=sharing… …
This lawsuit is not based just on snippets of conversations taken out of context. This lawsuit is the result of an exhaustive investigation that included the review of the entirety of conversations and tracking nefarious trading activity related to the project. Nefarious trading activity taken behind our backs, without our knowledge, and with the intention of defrauding us all. As far as the game itself, unfortunately it will not be released.
I personally spent $400,000 to have it developed and after its completion in early 2023 & some further diligence, unfortunately, there are too many regulatory hurdles that would need to be cleared that I did not originally understand and would ultimately delay this buy-back even further. This buy-back is a way for me to make whole those who intended to play CryptoZoo.
The buy-back is not intended to compensate those who gambled on the crypto market and lost. It’s important to remember that the Zoo Token was created to support the CryptoZoo game and its players; it was “not intended as an investment vehicle,” as outlined in the original WhitePaper. This solution has been anything but simple, so I want to thank everyone for their patience as we figured out the logistics of making sure the first ever NFT buy-back is a smooth process: http://EGGNFTBUYBACK.COM
Logan Paul is doing the right thing, and paying back the victims of this CryptoZoo situation. We will have to see how much money he ends up actually paying back when everything is said and done, because the price of Ethereum has gone down dramatically since the scam took place.
Logan Paul has a ton of money, but problems come with it. The Prime company is also getting quite a negative spotlight by the FDA. Needless to say, Logan Paul is already set to have a memorable 2024. Logan Paul might get heat with WWE fans, but there is a reason that people still pelt him with Prime bottles when he’s not in a WWE ring.
We will keep our eye on this story for more updates. It appears that the WWE United States Champion is going to do the right thing this time. For more updates, please keep it tuned with us here at Ringside News.
What’s your take on Logan Paul paying back the CryptoZoo scam victims? Let us know what you think in the comments section!
January 4, 2024 1:29 pm
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