Logan Paul is stepping up to the plate, pledging over $2.3 million to compensate investors who were let down by his doomed NFT project, CryptoZoo.
Paul took to X to announce a buy-back program, admitting the project’s failure and pledging to make things right.
Despite admitting that the venture fell short of expectations, Paul blamed CryptoZoo’s demise on “bad actors.”
Despite initial excitement and comparisons to popular games, the project was met with harsh criticism for unfulfilled promises and financial setbacks for investors.
Taking full responsibility for the outcome, Paul is now on a mission to compensate CryptoZoo’s investors for their losses. Following a revealing exposé by YouTuber CoffeeZilla, the once-promising game came under scrutiny.
In an audacious move for justice, Paul revealed that he has filed a lawsuit in federal court in Texas, seeking to hold those responsible for the project’s failure accountable.
The publicly available 25-page lawsuit file [DE 55 Answer and Cross Claims (W.D. Tex).pdf] emphasizes Paul’s determination to seek retribution. Despite his initial investment in the game’s development, he has stated that CryptoZoo will never be released.
The NFT buy-back program will be conducted on a website linked in Paul’s X post, where users can submit claims for review.
Notably, Paul emphasized that the buy-back is not intended for those who used the crypto market (zoo token) as an investment vehicle, as outlined in the original WhitePaper.
This unexpected move by Logan Paul comes after months of heavy criticism for failing to fulfill his promise to refund CryptoZoo investors.
While the crypto community initially expressed disappointment, Paul’s recent commitment to repay could mark a turning point in rebuilding his integrity and silencing the critics.