“It Was A Passion Project, Not An Investment Opportunity” Logan Paul Pleading For Fraud Lawsuit To Be Dismissed

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As someone who has followed Logan Paul’s career since his Vine days, it’s been quite the rollercoaster ride. From the controversial videos to the ill-fated CryptoZoo project, it seems like every time I think he’s hit rock bottom, he manages to dig a little deeper.

In 2021, Logan Paul initiated the well-known CryptoZoo venture. Similar to Pokemon, CryptoZoo was intended to be a game where NFTs (Non-Fungible Tokens) served as collectible pets. Enthusiastic fans were persuaded to buy these digital items, under the promise that their investments would appreciate when the CryptoZoo game launched. Regrettably, the launch of CryptoZoo was never realized.

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Update (September 6, 2024) — Logan Paul Pleading For Fraud Lawsuit To Be Dismissed

On February 2, 2023, investors of CryptoZoo filed a class-action lawsuit against a popular YouTuber and his crypto project. Now, Logan Paul’s legal team has asked for the entire case to be thrown out because they claim there isn’t enough evidence.

And according to them, CryptoZoo was “a passion project, not an investment opportunity”.

“Plaintiffs gambled and lost. They should not now be allowed to maintain implausible, deficient claims against Mr. Paul based on their decisions to ‘invest’ in a project that was not an investment vehicle in the first instance. The Court should dismiss the First Amended Complaint with prejudice and in its entirety.”

So, will it be enough to have the case thrown out, or will the CryptoZoo saga continue?

Logan Paul Reportedly Offered CryptoZoo Victims “5-10%” Of Losses

YouTube personality Kavos has been investigating the CryptoZoo saga, reaching out to people close to the legal case. In a startling disclosure, Kavos claimed that Logan Paul was allegedly attempting to resolve the lawsuit by reimbursing victims between 5-10% of their losses. Unsurprisingly, this move hasn’t had the best outcome.

Per Kavos:

My reliable sources are telling me that Logan Paul’s best offer was 5-10% of the losses suffered by the CryptoZoo victims

An absolute disgrace…

So when you hear Logan saying he’s trying to “rectify” the situation. He’s really trying to get away with it for as little as possible.

Logan Paul has not made any public comments regarding this news yet, and it seems unlikely that he will do so soon.

Are you more of a Jake Paul fan these days? We wouldn’t blame you.

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2024-09-06 13:39