Logan Paul gets hit hard after creating crypto scandal

The YouTube star is no stranger to controversy, but Logan Paul has been hit hard by a new crypto scandal. The part-time boxer was the major financier and creator of an NFT game which, according to claims, could make you rich overnight. “A very nice game that earns you money.” But CryptoZoo has been running square since day one and several investors would have lost millions.

The ball started rolling two weeks ago when Coffeezilla, an investigative journalist and YouTuber with over 2 million subscribers, exposed another new crypto scandal. Was Logan Paul himself behind the scam? Or did rogue comrades fell his sheepish followers with open eyes? One obviously does not exclude the other.

But what is CryptoZoo and how exactly does the NFT game work?

CryptoZoo: Logan Paul’s NFT game

Before you can start with Logan Paul’s game, you must first buy so-called ‘ZooTokens’ with real money. You then need to buy ‘egg NFTs’ with the cryptocurrency, from which different species of animals can crawl. The rarer the beast, the greater the value of your NFT. And if you have two animals, they can reproduce a new hybrid species that is even more valuable.

Do you have animal NTFs in your wallet? Then they deliver a certain number of ZooTokens per day, which you can exchange for real money. Hybrid species such as the rare – and easily photoshopped by Logan Paul – ‘Litten’ are the most profitable.

Hatching day

Crypto investors immediately put large sums on the table, and Zoo Tokens changed hands like hot cakes. Additionally, according to Coffeezilla, $2.5 million was already spent on the first day of the presale to get the NFT eggs.

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A very nice pyramid scheme that earns you money. (Image: Coffeezilla/YouTube)

Hatch Day, the day when the animals would break out of the crypto eggs, had not yet come. But the official one launch of CryptoZoo became an unsolved disaster.

Half of the purchased eggs still do not open a year later. Even worse, there seems to be no way to remove the passively generated ones at all yield convert to real money. Thousands of duped Logan Paul fans now own a worthless picture of a cartoon egg. And the cryptocurrency, ZooToken? A one-hit wonder.

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ZooToken’s record high and the price right now (Image: CoinMarketCap)

They are currently worth 0.00000000000046 euros each. Or 99.73 percent less than all-time high, which peaked when Logan Paul launched CryptoZoo in late 2021. But then there was already crap in the marble.

Developers hold code hostage

The YouTube star first talked about the project on the podcast Impulsive. He immediately announced that he had already invested more than a million dollars in CryptoZoo. “We have a huge team behind it and have already lost more than a million because we believe so strongly in the project,” Logan Paul said with conviction. Only everyone wonders where that money has gone.

The developers of CryptoZoo say they have not received a penny. Verbal promises of payments were made, but when trying to put everything down on paper, communication went wrong. And as long as the previously agreed amount of $1 million is not transferred, they will hold the code for the NFT game hostage. In addition, the new development team also resigned. Again due to payment issues.

Has Logan let Paul know about CryptoZoo’s problems behind the scenes? Were the sales of the NFT eggs and ZooToken discontinued? Twice nothing. Coffeezilla reached out to Paul’s manager for redress, but only a cringe-inducing and evasive conversation ensued. On the other hand? Increasing radio silence. Until the investigative journalist broadcast the crypto scandal to the world via YouTube.

In any case, Logan Paul fans and investors are left with the baked goods from the CryptoZoo fiasco. Logan Paul tried a fingered mea culpa pick up the pieces and still breathe new life into the project, but chances are someone will get out of it a fraction of what they invested in it. In addition, the plot has much deeper ground.

A crypto king and CIA agent

A missing master con artist who claimed to be a CIA agent, MIT student and Superbowl winner all at the same time. A self-proclaimed crypto king who, as an ‘advisor’, stored secret stocks of ZooTokens and resold them for 6 million behind his back. Juicy messages Logan Paul and his team about their strategy to make as much money as possible by manipulating the market. All of these obscure numbers are each partially responsible for the first crypto scandal of 2023.

But we don’t want to deny you a Netflix-worthy docu-series. Check out Coffeezilla’s full report and Logan Paul’s responses in order below.

https://www.youtube.com/watch?v=M1buyQRWw8M

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Logan Paul gets hit hard after causing crypto scandal

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