The fame of Logan Paul, the YouTuber and professional wrestler, is threatened by a class action lawsuit for the fraudulent sale of non-fungible tokens (NFTs) in the CryptoZoo project. Paul and five of his associates are accused of manipulating the cryptocurrency market and transferring millions of dollars to wallets controlled by them.
The lawsuit claims that the defendants promoted CryptoZoo on their online platforms, leading thousands of people to purchase the products without knowing that the game did not work or even did not exist. In addition to Paul, his associates Danielle Strobel, Jeff Levin, Ebbie Ibanez, Jake Greenbaum, and Ophir Bentov are also named in the lawsuit.
“CoffeeZilla” leads the lawsuit
The investigation that led to the lawsuit was conducted by YouTuber "CoffeeZilla," who posted a three-part series explaining why he believed the project was fraudulent.
According to the plaintiff's attorney, Paul and his associates executed a "rug pull," a term used in the Web3 community to describe a scam in which a cryptocurrency developer collects funds from buyers by promising them discounts that never materialize.
Plaintiffs want reparations
The lawsuit also claims that Paul and his associates knew the game was not working and had an obligation to disclose "material failures" to buyers. The plaintiffs seek compensation and punitive damages for the fraudulent and malicious acts of Paul and his associates.
The class action lawsuit is a call for justice for the ignored rights of CryptoZoo buyers. Plaintiffs seek compensation for damages suffered and a strong response to the fraudulent acts of Paul and his associates. Now, it is the turn of Logan and his team, who have not yet declared about it.
It is clear that while the promises are shouted loud and clear, explanations are whispered or even omitted. The plaintiffs trusted Logan and, because of this, it seems that not only will he have to make up to those he failed, but his image has been highly compromised in this matter.
However, the main victims of this matter are his community, who blindly trusted the empty words of this YouTuber and, therefore, are asking for their money back, along with financial compensation.