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Your tuber Logan Paul was quoted in a lawsuit against his cryptozoo project, which was charged with defrauding millions of investors.
Logan Paul is facing a class proceeding.
A class proceeding was filed against Logan Paul and his CryptoZoo project by the applicant named Don Holland, which claimed that the project was "pulled out" by abandoning the CryptoZoo NFT project. According to the Netherlands, the project attracted investors with the promise of exclusive access to crypto assets and other advantages and abandoned the project without returning funds to clients. The filing also alleged that the defendants have transferred millions of investors' funds to their own portfolios.
The court documents filed by the plaintiff read,
"As part of Defendants’ NFT scheme, Defendants marketed CZ NFTs to purchasers by falsely claiming that, in exchange for transferring cryptocurrency to purchase the CZ NFT, purchasers would later receive benefits, including, among other things, rewards, exclusive access to other cryptocurrency assets, and the support of an online ecosystem to use and market CZ NFTs.”
The main protagonists of the trial.
Other accused are Danielle Strobel, Jeff Levin, Eddie Ibanez, Jake Greenbaum (Crypto King), and Ophir Bentov (Ben Roth). Holland has hired Ellzey's lawyers. Attorney Tom is a YouTube personality who recently released a video on his channel stating that they are slapping Paul with a class-action lawsuit over the fraudulent venture after speaking to other victims of the alleged scam.
CoeffeeZilla against Logan Paul.
The dubious character of the project was first brought to light when Internet detective Stephen "Coffeezilla" Findeisen published a three-part documentary, labelling the CryptoZoo project as a scam. Shortly thereafter, Paul published his own video, threatening to go after Coffeezilla. However, he soon followed it up by deleting the post and promising not to follow through with the defamation lawsuit, claiming that it would not benefit the investors.
A recovery strategy for Logan Paul.
The recent class action against Paul was filed although it details a three-stage remedial plan to save the project. He said it during phase one, He and Jeff Levin, co-founder of cryptozoo, will burn their personal chips to add value to the chips of the incumbents. Secondly, Paul will personally dedicate 1000 eth to the project to enable investors to recover their original 0.1 eth investment, That's what it cost. Finally, he said he will work to deliver the game as described and promised in the white paper.
