The proposed class action lawsuit against Logan Paul and his associates alleges that they engaged in a fraudulent “rug pull” scheme.
The suit claims that Paul and his associates misled consumers by falsely claiming that they would receive benefits in exchange for transferring cryptocurrency to purchase the CryptoZoo NFTs.
The Plaintiffs allege that Paul and his associates had an obligation to disclose their material failures to purchasers, and as a result, they are seeking punitive damages as well as damages for fraud, conspiracy to commit fraud, unjust enrichment, and violating the Texas Deceptive Trade Practices Act.
In addition to the punitive damages, the suit seeks to represent any of the 20,000 token holders of CryptoZoo’s NFTs who may have been affected by this scheme.
