In a recent YouTube video by “internet detective” CoffeeZilla, it has been revealed that investors in Logan Paul’s CryptoZoo NFT gaming project are still waiting for the promised refund of 1000 Ether (ETH), equivalent to $1.93 million at current prices. Despite Logan Paul’s initial announcement in January about repaying the investors, there have been no specific details provided regarding the refund process.
CoffeeZilla highlighted the lack of communication from Logan Paul with the CryptoZoo community in recent months, stating that Paul has not paid back any of the investors and does not seem to have a plan in place to initiate the refunds. CoffeeZilla claimed to have personally reached out to Paul behind the scenes, asking for a refund plan but received no response.
CryptoZoo’s Troubles and Investor Dissatisfaction
CryptoZoo was launched in September 2021, aiming to be a breeding game based on NFTs, offering opportunities to earn ZOO tokens and NFTs. However, the project faced various issues, including underwhelming NFT artwork, declining token prices, and a failure to deliver on the roadmap, leading to investor dissatisfaction by late 2022. After facing backlash and exposé videos from CoffeeZilla, Paul announced a refund plan on January 14, along with a commitment to fulfill the project’s roadmap. Nonetheless, the project and Paul were hit with a class-action lawsuit the following month.
CoffeeZilla shared screenshots of email communications with Paul’s lawyer, Jeffrey Neiman, indicating that a concrete plan for the refund is yet to be established. The email stated that Paul remains committed to the process and that they are working together to determine the best approach. CoffeeZilla criticized this statement, emphasizing the simplicity of hiring blockchain developers to promptly develop the refund process. Additionally, CoffeeZilla pointed out Paul’s wealth, suggesting that he has the financial means to reimburse the investors.
Awaiting Resolution
As of now, Logan Paul has not responded on YouTube or Twitter regarding the refund issue. The situation surrounding the CryptoZoo refunds remains unresolved, leaving investors eagerly awaiting a resolution.