NFT: CryptoZoo accused of fraud – $1.5 million ETH to refund its victims

Hustle and bustle at CryptoZoo Logan Paulan American YouTuber known for his crazy videos finds himself once again in turmoil. Most famous for his wrestling matches and purchases of Pokemon cards worth more than $1 million, he is less famous for NFT Collections. However, the latest CryptoZoosuddenly finds himself accused as a deception

CryptoZoo: The NFT Collection That Takes You For 3 Week Rabbits?

CryptoZoo is a NFT collection in Binance SmartChain featured by Logan Paul in August 2021, during a podcast like “a fun game that makes you money”. The concept is as follows: how “The garden of the garden”, you must purchase NFT eggs using the game’s native token, ZOO. Then, after hatching, the egg becomes an animal that must be fed in order to become a “hybrid animal”. These hybrid NFTs can then be resold for ZOO tokens and thus line Zookeeper’s pockets.

In principle, any game idea, no matter how crazy, can go well if it’s done well. Except that the initiative was the subject last December of a series of videos by the Youtubeur known as Cafezilla. The latter accused Paul Logan’s project of being one Lies :

“Millions of dollars invested, and the game still doesn’t work.”

CryptoZoo, a shaky game and duped investors?

On the one hand, the design of NFT was advertised as handcrafted by a dozen artists over 6 months. But the latter would turn out to be the only one“A bunch of photos taken from Adobe and clumsily photoshopped”. On the other hand, on the CryptoZoo medium game site, no more articles have been published since April 20, 2022. So, no sign of progress on the project since then.

Finally, 2022 being the epicenter of the bear market, this did not benefit for long Zoo sign. Its value has crashed 99.5%. An explosive cocktail of bad news for investors.

In the face of the flood of accusations and resentments, Logan Paul has just released a video this January 13 in which he makes a mea culpa. it proclamation put a plan in place reimbursement of1.5 million dollars for defrauded investors.

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Logan Paul’s Salvation Plan

Logan’s plan consists of 3 phases. To begin with, he and his manager, Jeff Levinco-founder of CryptoZoo, will destroy (grill in English) their ZOO tokens, so that they no longer have any personal interest in the project. This should also increase the value of the token, reducing supplyof course provided there is demand.

Then, he will allocate a budget of 1000 ETH as part of a program of refund. It will allow disgruntled investors to destroy their NFT in order to recover their initial stake of 0.1 ETH.

Logan Paul explains his repayment plan on Twitter for CryptoZoo investors.
Logan Paul Announces 1000 ETH Bailout for Disgruntled CryptoZoo Game Investors – Source: Twitter

Logan Paul first mentioned a budget of $1.3 million with the price of ETH on January 13th. However, within a few days, the value of this growing rapidlythe amount requested for reimbursement has also increased.

The last step for Logan Paul is definitely to try complete CryptoZoo game and hand it over to the part of his community that still believes in him.

“To say I’m disappointed with how the game’s development has turned out internally is an understatement. Internal investigations are ongoing through an audit. And we will pursue legal action against those responsible. If money is raised in the process, it will go to the community. »

Logan Paul

Logan Paul will ultimately not take legal action against Youtuber Coffeezilla. On the contrary, he even thanks him at the end of the video for being able to highlight the development problems of the CryptoZoo game. In this still new crypto world, scams and scams are not uncommon. And the utmost caution is always in order when it comes to investing your money in a project, even that of your favorite Youtuber.

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