YouTuber Dissatisfied with Response to Initial Pledge
Logan Paul has retracted his initial pledge to refund investors of the failed crypto gaming venture CryptoZoo. The change of heart was revealed to Crypto Intelligence News by a source close to the influencer on Saturday.
Source Claims Paul Was Dissatisfied with Response
According to the anonymous source affiliated with Logan Paul and the now-defunct CryptoZoo gaming project, Paul has since retracted his initial promise of compensating investors. The source cited that Paul felt he wasn’t credited enough for his proposed gesture.
Paul’s Promise Came After CryptoZoo Exposed as Scam
It’s now been nearly six months since Paul’s initial promise to compensate the affected individuals. Late last year, crypto YouTuber Coffeezilla exposed the unfortunate debacle surrounding CryptoZoo in a detailed video.
As part of the exposé, Coffeezilla criticized Logan Paul and the project’s senior figures, revealing the losses incurred by several victims who collectively lost millions of dollars.
Paul Initially Deflected Blame, Then Promised Refunds
In the aftermath, Logan Paul made an attempt to deflect the blame onto senior advisors. However, facing backlash, he quickly switched tactics, pledging to reimburse some investors out of his pocket. Despite this promise, Paul has yet to compensate a single investor, nor has he provided further updates on the matter.
Coffeezilla Continues to Press for Accountability
In a recent follow-up video, Coffeezilla disclosed that his attempts to discuss CryptoZoo with Paul have been met with radio silence. All correspondence has been directed solely to the YouTuber’s lawyers. Coffeezilla pointedly remarked:
“Paul has not paid back his victims. He hasn’t talked about it since he first announced he was going to pay them back. And what’s worst of all, he doesn’t seem to have a plan in place to refund anyone.”
The extent of the losses incurred by CryptoZoo investors. Coffeezilla estimates that investors lost “millions of dollars” in the CryptoZoo scam. However, it is difficult to say for sure how much money was lost, as many investors may have been reluctant to come forward.
The reasons why Logan Paul may have retracted his promise to refund investors. The source who spoke to Crypto Intelligence News claims that Paul was dissatisfied with the response he received after announcing his intentions. However, it is also possible that Paul simply did not have the money to reimburse investors.
The potential legal implications of Logan Paul’s actions. It is possible that Paul could be sued by CryptoZoo investors for breach of contract. However, it is also possible that Paul could argue that he was not aware of the fraudulent nature of the project.
The broader implications of Logan Paul’s actions for the crypto community. Logan Paul’s actions have raised questions about the accountability of influencers who promote crypto projects. It is possible that this incident could discourage investors from participating in new projects.
What Does This Mean for Crypto Investors?
Logan Paul’s backtracking on his promise to refund CryptoZoo investors is a concerning development for the crypto community. It raises questions about the accountability of influencers who promote crypto projects, and it could discourage investors from participating in new projects.
If you are considering investing in a crypto project, it is important to do your due diligence and research the team behind the project. You should also be aware of the risks involved in investing in crypto, and be prepared to lose your entire investment
This information is published by the NFT News media team.
