{"id":15268,"date":"2022-12-27T22:43:26","date_gmt":"2022-12-27T22:43:26","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/27\/logan-paul-under-fire-for-cryptozoo-scam\/"},"modified":"2022-12-27T22:43:26","modified_gmt":"2022-12-27T22:43:26","slug":"logan-paul-under-fire-for-cryptozoo-scam","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/27\/logan-paul-under-fire-for-cryptozoo-scam\/","title":{"rendered":"Logan Paul Under Fire for CryptoZoo Scam"},"content":{"rendered":"

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Logan Paul\u2019s NFT recreation \u2018CryptoZoo\u2019 is at present embroiled in controversy following a three-part sequence by investigative YouTuber, Coffeezilla (actual title Stephen Findeisen).<\/strong><\/p>\n

Since 17 December, Findeisen has uploaded a three-part sequence on Logan Paul\u2019s rip-off blockchain recreation, CryptoZoo<\/a>. The sequence dismantles the controversial NFT<\/a> recreation and spotlights the numerous buyers who’ve misplaced tens of millions within the apparently defunct mission.\u00a0<\/p>\n

The video sequence at present has a mixed view rely of 13.2 million.\u00a0<\/p>\n

This just isn’t Coffeezilla\u2019s investigation into crypto scams<\/a>. Stephen Findeisen is an internet sleuth and YouTuber who focuses on uncovering scams and fraudsters. Over the previous few years, he has been specializing in uncovering scams within the blockchain and NFT house. His channel description has a nugget of knowledge that summarizes his common ethos. \u201cIf you have to ask\u2026 it\u2019s probably too good to be true.\u201d At the time of writing, his channel has over 2.1 million subscribers.\u00a0<\/p>\n

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His work has earned him a profile within the prestigious\u00a0New Yorker<\/a>\u00a0journal, which painted him as one thing of an unsung hero poking round within the darker facet of crypto and NFTs. A video sequence on the Save the Kids token is widely known as his transition to a extra severe, investigative type of content material. Videos by Findeisen unfold the phrase concerning the pump-and-dump scheme, finally dooming it.<\/p>\n

As of Tuesday, 27 December (UTC), each Findeisen and Paul have invited one another onto their respective reveals to debate the controversy.<\/p>\n

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Logan \u201cinvited me on his show\u201d however didn\u2019t embody the e-mail 24 hrs earlier than this the place I invited him first onto my present, together with Eddie, CryptoKing, and Jeff.\ud83e\udd71<\/p>\n

Im comfortable to fly Logan down or livestream it however I\u2019m not flying to his CryptoZoo tax haven on new years lol https:\/\/t.co\/o6LcgXC47B<\/a> pic.twitter.com\/sxJjAxyGGt<\/a><\/p>\n

\u2014 Coffeezilla (@coffeebreak_YT) December 27, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

What Is CryptoZoo?<\/h2>\n

Logan Paul\u2019s CryptoZoo was billed as an NFT-based recreation the place gamers may earn passive earnings. The thought for the mission first appeared in an episode of Paul\u2019s Impaulsive podcast. According to Paul, the crew behind the mission had spent six months making \u201chandmade\u201d animal-based NFTs.\u00a0<\/p>\n

It was Paul\u2019s intention to lift a million {dollars} to create the sport and NFTs. Players may buy NFT \u201ceggs\u201d of the animals, which may very well be \u201cbred\u201d and minted to create distinctive NFTs on the recreation\u2019s launch. To purchase the eggs, gamers needed to buy the sport\u2019s ZOO token<\/p>\n

NFT eggs price $2.5 million had been bought on the time of launch. However, by October, ZOO<\/a> had misplaced nearly all of its worth. Its value has solely dropped since.<\/p>\n

The YouTube influencer has beforehand blamed the sport\u2019s developer for its obvious implosion. According to Paul, the developer created a code after which absconded to Switzerland. The developer apparently wouldn\u2019t return the code until Paul paid him a million {dollars}. The mission\u2019s developer disputes this and maintains that he was by no means paid.<\/p>\n

CryptoZoo was as a consequence of launch in September 2021, however as of at the moment, the mission\u00a0does not exist<\/a>. The web site at present says \u201cis undergoing upgrades to the core infrastructure of the ecosystem.\u201d\u00a0<\/p>\n

The\u00a0website<\/a>\u00a0at present says that it’s \u201cstill under construction and would be undergoing upgrades to the main infrastructure of the ecosystem.\u201d The mission\u2019s\u00a0official Twitter profile<\/a>\u00a0has posted nothing since 28 May.<\/p>\n

Logan additionally seems to have eliminated all references to the mission from his YouTube channel.<\/p>\n

This Isn\u2019t Logan Paul\u2019s First Crypto Scam<\/h2>\n

Logan Paul beforehand tried to pump Dink Doink (DINK<\/a>), a meme coin that he implied he had no involvement in. It subsequently got here out that Paul had helped create the \u201ccharacter.\u201d In a video and tweet, he described the mission as \u201cthe dumbest, most ridiculous shitcoin I\u2019ve ever seen. And that\u2019s why I\u2019m all in.\u201d<\/p>\n

According to CoinGecko, there’s 100 quintillion DINK in the marketplace, with every price lower than one trillionth of a cent. Effectively making them completely nugatory.\u00a0<\/p>\n

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Disclaimer<\/h3>\n

BeInCrypto has reached out to firm or particular person concerned within the story to get an official assertion concerning the latest developments, but it surely has but to listen to again.<\/p>\n<\/div><\/div>\n