Patience wears thin as CryptoZoo investors await Logan Paul's refund.
CryptoZoo investors are reportedly growing restless, awaiting further details regarding the 1000 Ether (ETH) refund — amounting to $1.93 million at current valuations — pledged by Logan Paul six months ago.
The popular YouTuber and self-proclaimed "internet detective," Coffeezilla, who initially exposed the issues with Paul's NFT gaming project in December 2022, posted a video on June 30th in which he argued that Paul has been less than forthcoming with the CryptoZoo community in recent months.
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In particular, Coffeezilla claimed that Logan Paul doesn't even have a plan for how to refund CryptoZoo users.
It’s been six months, so here’s a follow-up. Logan Paul has not paid back his victims, he hasn’t talked about it since he first announced he was gonna pay them back. And what’s worst of all, he doesn’t seem to have a plan in place to refund anyone.
Coffeezilla further stated, “How do I know that? Well because I’ve been asking Logan for that plan to refund people the entire time, behind the scenes.”
In September 2021, Logan Paul launched CryptoZoo, which was positioned as an NFT breeding game promising to reward players with ZOO tokens and NFTs. Paul personally hyped it as a “really fun game that makes you money.”
Nevertheless, uninspiring NFT artwork, plunging NFT and ZOO token prices, and a perceived failure to deliver on the project's roadmap led to investor dissatisfaction by late 2022.
Following a series of expose videos by Coffeezilla that heightened community backlash, Paul announced a refund plan on January 14th and pledged to deliver on the project's roadmap.
In his recent video, Coffeezilla shared screenshots of email exchanges with Paul's lawyer, Jeffrey Neiman, hinting that a concrete plan for the refund process hasn't been established yet. The email read:
We represent Logan Paul. Mr. Paul has informed us of your outreach about the status of the CryptoZoo egg buyback. Mr. Paul remains committed to this process. We are working with Mr. Paul to evaluate the best way to achieve this goal.
Coffeezilla expressed concerns about this response, underscoring the feasibility of hiring blockchain developers to create the refund code and arguing that Paul evidently possesses the resources needed to reimburse investors.
So you’re still at the whiteboard then? Guys, this is a statement you say when you have no plan, or you’re stalling, <...> I mean that’s where Logan was back in January, he was evaluating. Am I supposed to believe that six months later, you guys haven’t figured this out?
It is worth noting that Logan Paul hasn't yet responded to new allegations.
