As cryptocurrencies continue to grow in popularity throughout the world of finance, many celebrities and influencers are looking to throw their hat in the ring. There have been plenty of YouTube and Twitch influencers who have tried to launch their respective cryptocurrency projects, but most of them turned out to be scams.
Better known as a “rug pull,” the better question is, is this still an issue? As Logan Paul becomes the newest YouTuber to bring out his own Crypto project, which has soon turned out to be not the best investment choices. In this review, you will find out if Logan Paul is a scammer.
Fails to Hire the Right People for the Job
Cryptozoo started nearly 1.5 years ago by Logan Paul in his second attempt at a token. But unlike last time where he was only passively involved throughout the entire operation, this time it was completely his project. Therefore, to kick off his project, he first started with hiring individuals who knew more about the crypto market and how to set up an NFT game, which is exactly what he was trying to make.
In his pursuit for a team that would help him set up this project, he hired the Eddie Ibanez, Jake the Crypto King, and a final developer named Z. All of these three individuals, along with Logan Paul’s manager Jeff, made up the main team for the entire project.
However, disaster soon strikes as the lead developer steals the source code for the game, flees to Switzerland, and soon holds the code for ransom. During this time, presale for the game begins and that is where the other problems come in.
The Crypto King and Eddie would soon burin a collective of almost $8 million worth of Zoo Tokens, enriching themselves in the process. During this time they would soon flee the project entirely, leaving Logan Paul to fend for himself.
Granted, this does not make Logan Paul look like a scammer. At worst it makes him look like someone who is very incompetent.
Conspires to Scam His Investors
While failing to hire the right people can be a lot more excusable, a thorough investigation by another YouTuber by the name of CoffeeZilla shines light on the possibility that Logan Paul hiring these individuals was no accident. Instead, this was a “Pump and Dump” scheme through and through, as he was looking to build the price of the Zoo Token to a certain level and then leave it hanging.
The investigation brought to light some screenshots of insider messages of the Crypto King, Eddie, Logan, and Jeff were all in the same group chat. Not only was Logan Paul clearly in on the scam from the beginning, but it even brings out the possibility that he actually hired these individuals on purpose because they were experienced scammers with experience scamming other individuals.
Does Not Give an Adequate Response to Scam Allegations
One of the most telling signs that Logan Paul was a scammer from the beginning was how he responded to the “accusations” that CoffeeZillamade. The investigation spanned over a year and gathered a mountain of evidence against Logan Paul, which was all compiled into a three part series.
Logan Paul went on to attack the character of CoffeeZilla and would throw out vague threat about possibly suing him for defamation and liable. Logan made no mention of any of the text messages and did not talk about how he will be compensating the individuals back in any way. He failed to address any real criticisms that CoffeeZilla made.
Logan Paul has garnered quite the unsavory personality over the years that he has been an internet personality. Throughout the many shenanigans that he has been involved in, Cryptozoo has ruined many people’s lives and made it difficult for them to make back the money they made. Logan Paul very much is a scammer, as he was caught actively trying to steal from his investors.