The situation initially intensified in January when YouTube investigator Stephen “Coffeezilla” Findeisen and other individuals raised concerns about Logan Paul’s alleged misinformation of his audience and NFT buyers. In response, Paul released a video on January 13 outlining his “three-step plan” to tackle the matter. However, within a month, Logan Paul found himself facing a class-action lawsuit, accusing him and his team of deceiving and rug-pulling CryptoZoo buyers.
Amid widespread accusations of being a scam, the project faced significant scrutiny, with Logan Paul’s promise to refund NFT buyers raising hopes for a resolution. However, according to Coffeezilla, Paul has remained silent on the issue following his initial announcement, leaving victims without a clear reimbursement plan and feeling abandoned.
Despite continuous attempts to obtain updates from Paul, Coffeezilla’s inquiries went unanswered. After connecting with the victims and closely observing their public Discord chat over the course of the year, Coffeezilla discovered that Logan Paul had failed to fulfill any of his obligations to the NFT buyers. Despite publicly proclaiming his plan and taking credit for it, Paul appeared to have disappeared from the lives of the victims.
Following Coffeezilla’s attempt to contact Paul, a response was finally received after reaching out to his criminal defense lawyer. Logan Paul’s team stated that they are currently assessing the most appropriate course of action to provide refunds to the NFT buyers. However, Coffeezilla expressed his disappointment with the lawyer’s response, as it did not provide a specific timeline or a concrete plan for restitution.
One of the primary commitments made by Logan Paul in his video addressing the NFT scandal was the pledge to burn their $ZOO tokens, effectively rendering them unusable to prevent any potential profit. However, a thorough examination of the official ZOO contract detailed in the token’s whitepaper reveals no definitive evidence that Paul or Levin actually carried out the token burn. Additionally, a wallet specifically designated for token burns, identified by its address ending in 0x6D, reportedly burned 1.5 billion ZOO tokens following the initial NFT release but has remained inactive since March 2022.
The absence of decisive action and transparency from Logan Paul and his team regarding the NFT buyers has resulted in widespread frustration and disappointment. As Coffeezilla persistently advocates for the victims, it is evident that the repercussions of the CryptoZoo controversy are far from resolved. Logan Paul’s reputation and integrity are still at stake as the community anxiously awaits answers and accountability.