Recently we reviewed Logan Paul’s CryptoZoo scam and how he got away with it despite accusations. At the time, he was threatening to sue fellow YouTuber CoffeeZilla, but now he is facing a class-action lawsuit himself.
In a court filing on Feb. 2 in the District Court in Texas, plaintiff Don Holland alleged that Paul and executives at CryptoZoo “executed a ‘rug pull’” by promising purchasers of the NFTs exclusive access to crypto assets and other benefits, but ultimately abandoned the project and kept the funds. The plaintiff is a Texas police officer who poured about $3,000 of his own money into CryptoZoo in the hopes that it would yield big returns, but this never happened. So, Holland is now seeking damages for $75,000 for “conspiracy to commit fraud,” “fraudulent misrepresentation,” “negligence,” “unjust enrichment,” and more.
We have officially filed a class action lawsuit in the Western District of Texas against Logan Paul et al. for the CryptoZoo fiasco. (This is in addition to the numerous cases heading to arbitration on the matter.) pic.twitter.com/BIC5v63TGZ
— AttorneyTom (@attorney_tom) February 2, 2023
Other defendants named in the lawsuit include Danielle Strobel, Jeff Levin, Eddie Ibanez, Jake Greenbaum (Crypto King) and Ophir Bentov (Ben Roth).
Paul has not responded to the lawsuit at all since it was filed. However, he did make an appearance during WWE’s 2023 Royal Rumble event on January 28. His YouTube accounts, as well as the podcast, have been quiet since the beginning of February. We continue to observe.
