Logan Paul’s CryptoZoo Scam Allegations Explained

don’t give it to logan paul hydrogen fuel ideas. Douche tube Known for photographing corpses in Japan Said to have made millions of dollars on non-fungible token projects that don’t work, and like Miles Bronn before him, he doesn’t seem to care if his success comes at the expense of others. Paul did not approve the app for another 15 months. cryptozooA “really fun game to make money” launched in September 2021 on Binance Smart Chain. This app uses OpenSea for egg NFTs purchased on Ethereum, PokemonInspired by trading games where users buy eggs, hatch them and breed animals to earn their own $ZOO tokens. However, it only displays pictures of animals. For months, players have invested thousands of dollars in the app, many of whom heard about his Play-2-Earn program from his Aug. 17, 2021 episode of Influencer. podcast Impulsive, just stared at images of digital eggs while losing thousands of dollars. And at the end of 2022, YouTuber Stephen Findeisen, who is investigating cryptocurrency fraud on his own channel, coffeezillareleased a three-part series on cryptozoo Is Logan Paul actually an SBF-level crook?

No, save your brain cells. Paul is not Sam Bankman Freed. Be tricked Anna Delvey. Paul and his manager Jeff Levin put their trust in too many “bad actors.” They were all looking for their bottom line, including Eddie Ibanez and Jake, as Paul calls them in his latest non-apology video. CryptoKing” Greenbaum. “Logan wasn’t smart enough for what he was trying to build,” said CryptoKing, letting him loose a bit, but that didn’t stop Paul from trying to be the last con man. I did.. Below is the claim that Logan Paul cannot be KO’d.

Let’s start with why Logan Paul’s non-apology response video is happening in 2023.
The cryptocurrency community wants one thing I thought they didn’t want: accountability.

In the January 3rd video “My Response to Alleged Coffeezilla Fraud”, Paul doesn’t address why the project has failed to live up to the hype he created himself, 15 months after its launch. Instead, it claimed to sue Coffeezilla for defamation. When Paul first pitched it to his fans, his game would allow him to “breed” his NFTs like pets, with eggs priced at his 0.285 ETH (currently around $340). was. However, just one month after the official release on September 1, 2021, the developers cryptozoo start working on your own version, zoo lab“The ZOO development team has been working tirelessly day and night, during which Logan’s team stole tokens from all V3 investors and lied to the public that he paid $1 million to the developer. I got it,” they said. Tweeted on October 6, 2021. cryptozoo players expected Something From their investment, on November 3, 2021, “Hatch Day,” do not open the egg to reveal “Exotic hybrid animals”, but as Paul shows in his response video stock images of random animals like ducks, penguins, reindeer.

Honestly, a functional crypto app was a lot to expect from someone who was just criticized for DinkDoink’s meme token in summer 2021. Referred to as a pump-and-dump schemeHowever, in his August 2021 announcement, ImpulsiveLogan claimed to have personally spent thousands of dollars developing the game and promised fans something “different.”

How did Coffeezilla expose Logan Paul?

Well, in Part 1 of the Coffeezilla series, “Investigating Logan Paul’s biggest scam“Z,” whom Paul identifies as Zach Kelling, chief technology officer at ZOO Labs, employs “50 people working at a burn rate of $50,000 a week” to build the game and the necessary blockchain technology. It claims to have had a team of ‘engineers’. And the developer never got paid $1 million or received his 5% of the verbally promised tokens. cryptozooFounder, Eddie Ibanez. Ibanez was exposed by Billy Penn reporter Adam Robb in 2022. He went to MIT, worked with the CIA, and falsely claimed he helped the Eagles win the 2018 Super Bowl. Ring, among other claims. Another co-founder and Paul’s manager, Jeff Levin, said: cryptozoo After launch, Ibanez remained with the team. Paul is interested in digging up Kering’s (irrelevant) old arrest records to deny the legitimacy of Kering’s allegations. cryptozoo. quick A Facebook scroll shows Keller in a Discord with the 26-member “Zoo Team” on July 25, 2021One month Previous Paul called the development team “massive” and said it took “a million dollars” to develop. podcastIn this video, Paul doesn’t mention the second group of developers Coffeezilla discovered just two months after being hired by Jeff Levin in July 2022.

How much money did Logan Paul make if no one was paid?
Sorry, back to that. We still have to introduce another co-conspirator along the way.

Our last co-founder and advisor, CryptoKing, brought us the biggest idea with the smallest investment. They will “stealth launch” a $ZOO coin pre-sale on July 11, 2021, with Paul buying a liquidity pool at a discounted price before his August 18th announcement to the public. According to Coffeezilla, on “$ZOO DAY,” each founder stuck with this plan, except for his CryptoKing, which bought his $200,000 worth, twice what Paul bought. However, shortly before the token went public on his September 1st, a second official $ZOO token was created, doubling the first owner’s wallet to his. That is, Excluding 250 accounts, including five wallets used by CryptoKing to purchase additional tokens. “You are a scammer. CryptoKing sent his Paul a text her message, according to a message seen by Coffeezilla: ‘You betrayed your community.’”

So he tried to trick Logan, but did Logan cheat him back?
For CryptoKing, his actions were “ethically moot,” he reasoned in an interview with Coffeezilla. And it’s hard to pinpoint who is scamming whom. In the third part, “End Logan Paul’s biggest scamCoffeezilla share business documents from your team cryptozoo In it, they outline a legally dubious strategy for the $ZOO token. The total amount of tokens will reach 2 trillion, of which a quarter will be for “development, marketing and founders” will be locked and cannot be sold for 6 months. Then 10% each month will be unlocked for 10 months. However, coins purchased during stealth activation (also known as version 1 tokens) were not locked. In fact, as long as the game remains unfinished, it can be sold at any time. In another document, the founders established some rules. And in a day he doesn’t affect the market more than 10%. “

SEC would almost call it market manipulation, a fee that could imply imprisonment. Someone probably noticed, because at some point the plans would change. Logan calls each founder when they are ready to sell. “Your tokens don’t leave your wallet,” Logan says in his chat, according to screenshots obtained by Coffeezilla. “This is a game.”

However, CryptoKing says that not all tokens were blacklisted (and he eventually got back the blacklisted tokens). And he fully admits that he made “millions” from the project, even though he didn’t deliver on his promises to users. “You could say I sold it, which is also true,” he told Coffeezilla. “As long as it’s accompanied by ‘He was the founder who was supposed to be given his 5% of the project but was never given’. [locked founder] Worked on the project for almost a year, either token or paid. “

Eddie Ibanez reportedly made around $1.7 million on $ZOO, although Eddie had reportedly left the company by July 2022. Paul was poised to make millions, but he and his manager have yet to sell the tokens they bought for $100,000. Vulture has reached out to Jeff Levin and Logan Paul for comment. Like fans and investors, Paul probably thinks he gets his money’s worth. Ethereum earned from egg NFTs was paid out to two anonymous coinbase accounts, Coffeezilla reports. Binance Smart, half of the money earned on his chain, $1,314,225,001.8 $ZOO (currently about $79,875,629), is aimed at “wildlife charities and the development of his CryptoZoo”. cryptozoo team.

Why is Logan Paul suing now?
He alleges that Coffeezilla illegally used private conversations with Jeff Levin in his revelations, in addition to “defaming.” “His defamation claim does not point to any inaccuracies in my story. It’s just a legal threat from an angry billionaire who says he’s involved in fraud.” And that’s what it’s like to sell a multi-million dollar cryptocurrency project that doesn’t work.As far as the phone goes, I’m in Texas, a unilateral consent state, and Jeff says he’s on record. Logan was trying to avoid responsibility and should apologize.”

Dear Investor, cryptozoo It may be considering legal options, but Paul suggests there may still be a payoff. “Who do you tell when the development timeline is over?” he asks Coffeezilla. Zach Kelling, who still has the original code, tweeted on January 4th:Release #cryptozoo as intended‘ If Paul pays the bill: ‘Or will you continue to promote vaporware while looking for developers to scam you?’

Leave a Reply

Your email address will not be published. Required fields are marked *