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YouTuber Logan Paul is hit with a lawsuit. Investors calling CryptoZoo a rug pull scam

Paras Katoch
logan paul cryptozoo nft game is a scam

Logan Paul’s NFT game CryptoZoo has been called a fraudulent venture duping investor’s money in a rug pull scam

Plaintiff Don Holland has filed a lawsuit against CryptoZoo (CZ) and Logan Paul accusing him of executing a rug pull scam on investors. They have allegedly stolen millions of dollars worth of cryptocurrency from the investors who showed faith in the NFT based gaming project.

The lawsuit filed on Feb 2, claimed that Logan Paul falsely marketed his venture by luring the investors with benefits, rewards and exclusive access to CryptoZoo’s assets. Given the popularity of the projects, many investors bought the idea and participated in the sale.

After the completion of CZ NFT sales, Logan Paul and the team transferred millions of dollars worth of accumulated cryptocurrency to different wallets controlled by him. The lawsuit was submitted by attorneys from Ellzey & Associates and Attorney Tom and Associates.

Jeff Levin, Crypto King, Eddie Ibanez and several other personalities were charged in the lawsuit filed in U.S. District Court. The news came weeks after the famous YouTuber CoffeeZilla first exposed the project calling it a pure rug pull scam.

His investigation claimed that Logan Paul has failed to pay the game developers which resulted in stalling the project’s development and the whole project is nowhere near the launch.

Meanwhile, game developer Yipy launched RealZoo, an upcoming NFT based blockchain game built on similar theme as CryptoZoo to prove that the concept can be launched within a matter of hours than months as claimed by Logan Paul.

Despite announcing his $1.5 million recovery plan, investors sued Logan for cheating his followers out of this project. Although he is still affirmed on delivering the game after the third stage of development.

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