Logan Paul - CryptoZoo Investigation

The CryptoZoo case involves Logan Paul and his NFT project launched in 2022, which quickly sparked controversy and accusations of fraud. Billed by Logan Paul as a blockchain-based game, CryptoZoo promised users the ability to purchase digital NFT eggs, which, once “hatched,” would produce hybrid animals (combining two different species). These hybrid animals were supposed to be able to be sold or traded to generate cryptocurrency earnings, and the eggs themselves were sold as potentially lucrative investments.

CryptoZoo’s promises
Logan Paul promoted CryptoZoo as an exciting project, claiming that it was a game that would provide tangible value through NFTs, and that users could generate passive income. He also promised a team of experienced developers and an innovative end product. Its large audience, mostly young people and amateur investors, showed interest, and many invested real money to buy CryptoZoo’s egg NFTs or to purchase the native cryptocurrency associated with the project.

The first signs of trouble
After the launch, users quickly ran into problems. The initial promises were not kept: the game did not work as expected, the NFTs could not be traded or sold properly, and the advertised features were either non-existent or dysfunctional. Players began reporting that their eggs were not hatching, that the animal hybrids had no real value, and that the price of the cryptocurrency associated with the project was dropping rapidly.

Fraud allegations and repercussions
Faced with the dysfunctions, several investors felt cheated and accused Logan Paul and his team of mismanagement or even fraud. Several content creators, including Coffeezilla, a YouTuber who specializes in investigating online fraud, have taken a closer look at CryptoZoo and discovered irregularities. Coffeezilla revealed that key developers had left the project due to financial disagreements, and that investor funds had potentially been misappropriated.

Logan Paul’s response
Initially, Logan Paul disputed the accusations made by Coffeezilla and other critics, saying that the investigation was biased and that he was actively working to resolve the issues. However, in the face of public pressure, he eventually admitted some mistakes and promised to reimburse users who lost money. Although Logan Paul promised solutions, many investors feel that the project remains unclear and fear that their investment will never be recovered.

CryptoZoo’s impact on the image of influencers in crypto
The CryptoZoo affair has highlighted the risks associated with cryptocurrency projects promoted by influencers, especially when they are not experts in finance or blockchain. The case raised ethical questions about the responsibility of creators to their audiences, and the transparency and integrity of cryptocurrency projects promoted online.