As a long-time crypto investor, I’ve seen my fair share of projects that didn’t live up to their promises. However, the CryptoZoo saga hits close to home for me because I was an early investor in the project. The allegations against Logan Paul by Coffeezilla were damaging and misleading, painting a picture of a scam without providing the full context.
Logan Paul has initiated a legal action against YouTube personality Stephen Findeisen, also known as Coffeezilla, due to a set of videos he published in 2022, containing allegations that defamed Paul’s aborted CryptoZoo NFT venture.
As a crypto investor, I’ve come across some disturbing news. A lawsuit has been filed against an individual named Findeisen, accusing him of making malicious and repeated false statements against another person named Paul. The allegations claim that these false statements were made with the intent of accusing Paul of organizing a scam through CryptoZoo. In simpler terms, Findeisen is suspected of spreading lies about Paul’s involvement in a supposed crypto scam.
“Defamatory Falsehoods”
In the court papers, it is indicated that Paul initiates this defamation case to make Findeisen answerable for his misconduct and to impose liability upon him for the significant damage inflicted on Paul’s reputation through the deliberate and careless spread of damaging untruths.
Around the end of 2022, Coffeezilla unveiled a three-part investigation on YouTube, dubbing it “Logan Paul’s largest deceit.” The videos claimed that Paul had swindled his fan base by soliciting funds from NFT (Non-Fungible Token) holders without fulfilling the promised project. This exposé swiftly garnered significant attention, amassing tens of millions of views and ranking among Coffeezilla’s most successful content.
Paul contests that the videos portrayed an inaccurate representation of events. The lawsuit alleges that Coffeezilla failed to disclose vital information, which highlights Paul’s dedication and involvement in CryptoZoo’s prosperity. Findeisen was aware that Paul did not financially benefit from the project and possessed numerous messages demonstrating Paul’s unwavering determination to ensure CryptoZoo’s flawless execution prior to its public debut.
According to the filing, Findeisen was aware that Paul hadn’t harbored any deceitful intentions from the start, but rather aimed to create a lawful blockchain game instead.
As a researcher examining the details of this lawsuit, I’ve come across Paul’s allegations against two individuals: Eduardo “Eddie” Ibanez and Jake Greenbaum. According to Paul’s account, he holds Eddie responsible for falsifying his credentials, thereby undermining the project’s legitimacy. In contrast, Jake, who was serving as an adviser, allegedly prioritized personal gain over contributing to a viable project.
Logan Paul Seeks Over $75,000 in Damages
Logan Paul is pursuing a claim for compensation over $75,000, along with accrued interest, attorney fees, and any further remedies the court deems appropriate.
Previously, Paul unveiled a $1.5 million restoration initiative for CryptoZoo. In the end of 2022, he contemplated taking legal action against Findeisen. But eventually, he chose to put efforts into healing relationships with NFT owners instead. However, Findeisen persisted in putting out videos during 2023 and 2024, maintaining allegations that CryptoZoo was a fraud orchestrated by Paul.
As a researcher, I’ve come across an intriguing case where an individual claimed that they invested significant resources into a Non-Fungible Token (NFT) project but unfortunately saw no returns. Specifically, they stated that they felt let down when their efforts didn’t yield the desired outcome. They went on to spend a substantial amount of one million dollars during the months of January and March to repurchase these NFTs despite not having earned any income from the project beforehand.
In 2021, the CryptoZoo initiative was introduced as a game allowing users to purchase NFT “eggs” using the ZOO token. Regrettably, the value of the ZOO token has significantly dropped, rendering it virtually worthless with a market cap and trading volume both at zero.
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2024-06-28 12:41