The Logan Paul — CRYPTOZOO scandal has arrived at a decision with a much-anticipated apology video from Logan, a response video from Ceffeezilla and a lawsuit from Legal professional Tom.
Listed below are the main points:
Logan created and promoted a play-to-earn recreation known as CRYPTOZOO.
Logan, his supervisor Jeff Levin, and his workforce members participated in a scheme to artificially manipulate the worth of the sport token $ZOO.
Two members of Logan’s workforce, Eddie Ibanez and the Crypto King — Jake Greenbaum, J.D. bailed available on the market manipulation scheme early and dumped the native token. They made off with over 7.5 Million {dollars}.
Jake and Eddie have been later revealed to be serial scammers and the lead developer behind the mission was additionally outed as a convicted felony.
The sport was by no means delivered and Logan’s followers who invested in CRYPTOZOO NFTs and the native token $ZOO have been left holding the bag when the mission rugged.
Famed web detective Coffeezilla AKA Stephen created a three-part sequence chronicling the CRYPTOZOO rip-off. He successfully introduced mild to this story and gave a voice to its victims.
Logan initially responded with hearth and fury over two response movies on his foremost channel and podcast. He accused Coffeezilla of criminally negligent reporting and threatened a defamation lawsuit.
The YouTube neighborhood noticed the frivolous lawsuit as an try to silence Coffeezilla and rallied round his channel. Many content material creators started releasing response and response movies that have been important of Logan. The Streisand impact introduced extra eyeballs to the Coffeezilla sequence than Logan anticipated and the story took on a lifetime of its personal.
Because the scandal bought greater and Logan noticed that he couldn’t sway public opinion on the matter, the disgraced YouTube icon conceded. He apologized to Coffeezilla and took down one of many preliminary response movies.
Logan lately launched an apology video on his second channel the place he lays out a Three step plan to make issues proper.
1. Logan and his supervisor Jeff will burn their allocation of $ZOO tokens to ensure they not have a monetary upside on this mission.
2. Holders of CRYPTOZOO NFTs will have the ability to burn their tokens to redeem the preliminary mint worth of 0.1 Ethereum or the equal in Binance BNB tokens. To facilitate this, Logan will allocate 1000 ETH ~ $1.Three Million to make CRYPTOZOO victims entire.
3. Lastly Logan vowed to complete the sport and launch what was specified by the preliminary white paper for CRYPTOZOO.
Coffeezilla additionally launched a much-anticipated response video the place he commends Logan for his makes an attempt to make issues proper. Nonetheless, Stephen precisely factors out the numerous areas the place the apology and makes an attempt to make amends fall brief.
For the folks in search of justice, Stephen directs them to a video by YouTuber and lawyer — Legal professional Tom who’s bringing a case in opposition to CRYPTZOO on behalf of the victims.
I doubt that is the final we’ll hear of the CRYPTOZOO saga.
As all the time, thanks for studying.
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https://medium.com/coinmonks/the-logan-paul-apology-video-and-redemption-plan-for-cryptozoo-874452e7cd1b?supply=rss—-721b17443fd5—4