Logan Paul Defends CryptoZoo Project Amid Allegations of Scam

In a new documentary entitled “5 Months with Logan Paul,” YouTuber Logan Paul has argued that the infamous CryptoZoo project, The documentary, featuring journalist Graham Bensinger, explores Paul’s perspective on the CryptoZoo NFT gaming project, which caused investor losses but was not deemed a scam.

Bensinger confirmed that Paul’s participation caused financial losses for people. The YouTuber admitted there was an element of truth to the statement but maintained that it was not a scam. Paul claimed he also lost money in the project, saying, “I didn’t make any fucking money, bro. I’ve lost half a million dollars on this. Where is the scam?”

The YouTuber also revealed that the CryptoZoo project led him to have suicidal thoughts, stating, “For the first time in my life, I was having suicidal thoughts. I was just spiraling.”

Apart from attempting to counter allegations, Paul promised to “take care” of those who made CryptoZoo look like a scam caused by him. This isn’t the first time Paul has threatened legal action against those reporting on the project; in January 2023, he threatened to sue YouTube journalist Coffeezilla after his piece on CryptoZoo.

In the same month, Paul unveiled a $1.5 million recovery plan for those affected by the failed project. However, it took a year and an action lawsuit before the buyback plan was implemented. Users could only receive a refund if they agreed to give up any present or future claims against the YouTuber.

In February 2023, displeased investors filed a class-action lawsuit against CryptoZoo and Paul, alleging that the venture performed a rug pull and stole millions of dollars.

Also read: KSI Faces Pump-and-Dump Allegations Over Reopening Crypto Account