Logan Paul, a popular YouTuber, is not new to crypto or getting into trouble. In a video posted on Tuesday, he vehemently denied most of what YouTuber Coffeezilla said about his crypto game project, CryptoZoo, and Logan Paul plans to sue Coffeezilla, whose real name is Stephen Findeisen, for defamation.
CryptoZoo, a 2021 Binance Smart Chain game, sells “eggs” that hatch into hybrid animals. A corporate blog post claims that ZOO tokens could generate passive income for animal owners.
Paul called CryptoZoo “an enjoyable game that makes you money” in an August 2021 podcast. That dream hasn’t come true.
Analyse The Data fetch from PancakeSwap
According to data from PancakeSwap, the value of the ZOO token has dropped by about 89% in the past year. And Findeisen spoke with over six people who claim to have lost thousands each from their CryptoZoo purchases. In total, just six of the individuals claim to have collectively lost nearly $600,000.
The CryptoZoo blog has not published a new post since April 2022, and neither its Instagram nor Twitter page has posted any new content since May 2022. This inactivity can be regard as abandonment.
The CryptoZoo Twitter account did, however, suddenly retweet Paul’s Coffeezilla response video on Tuesday, and Paul says that CryptoZoo is not dead yet.
“CryptoZoo is on the way. Paul said in his video, “I will make damn sure of it.”
Logan Paul Deneid Of Being Scamming his Fans
Logan Paul denied that he ever used CryptoZoo to scam his fans, and Findeisen’s three-part series about the project was “deeply unethical, dangerously misleading, and illegal,” according to Paul.
“You led the charge to propagate and profit from a story that informed millions of people I was a fraud or that I attempted to defraud my audience,” he stated. Clearly, that is not true.
Paul said Findeisen knows he is not guilty but was “twisting” the facts and putting out the videos anyway. Paul noted that Findeisen “put out a smear piece about me even though he knew I was innocent.”
Attorney and adjunct law professor Andrew Rossow told Decrypt that since Paul is a public person, he would have to establish that Findeisen broadcast the films with “actual malice” or “reckless contempt for the truth” for a court to consider his case.
“I think the biggest question that hasn’t been answered as of press time, which is at the heart of a possible defamation claim,” Rossow said. “Is Paul’s “CryptoZoo” a “scam” that Paul made on purpose to mislead and cheat investors intentionally?”
Rossow wants to know how Findeisen “acquired the truth” from Paul before he can prosecute him.