Logan Paul was involved in CryptoZoo scam in 2021, and now he is dealing with the aftermath. As a class-action lawsuit continues, Logan Paul has issued buyback program, but there is a lot to unpack in this story.
It didn’t take long for some people to shade Logan Paul’s efforts. It appears that Twitter didn’t agree that Logan is doing either, either.
Logan Paul saw that Twitter’s community notes actually clarified his post about the CryptoZoo buyback. He addressed that in a lengthy post to reiterate some of his points about the buyback process.
I’m shocked how @CommunityNotes can stamp my rectification with lies and the platform supports it This is not a refund. A refund implies that I made money and I’m paying it back. As stated in my post, I didn’t make A SINGLE PENNY from CryptoZoo. The $2.3M I’ve committed is coming from my pocket, not profit. Additionally, the tokens weren’t “exclusively meant to buy NFTs,” and saying “the promised NFTs were never delivered” is factually incorrect. On
@KSI’s post, it says the buyback only accounts for “12% of damages ($2.3M out of $18.5M in sales).” That is also untrue. There was 1000 Eth worth of NFT sales, and I’m offering to buy back 1000 Eth worth of NFTs. 1:1. The post does not extend to the token because the token was “not intended as an investment vehicle,” nor did it serve a purpose outside of the game, which was never delivered and thus I take accountability, hence the buyback.
Logan Paul obviously didn’t appreciate how his buyback plan was perceived. Plenty of people have been critical of what he is doing, but at least he is doing something, which is a lot more than other influencers have done when they were involved in scam projects.
We will keep an eye on the CryptoZoo scandal, here at Ringside News. You never know what will break next at this point, but Logan Paul isn’t going to let Twitter throw some shady community notes his way.
What’s your take on Logan Paul’s CryptoZoo buyback policy? Let us know what you think in the comments section!