lawsuit against Logan Paul and CryptoZoo over the rug pull scam

Don Holland initiated legal action against popular YouTuber Logan Paul over a rug pull scam.

Logan Alexander Paul is a 28 years old American media personality, podcaster, actor, and professional wrestler. He has over 23 million subscribers on his YouTube channel. In the past, Logan worked with the NFTs Crypto project “Cryptozoo”. 

On 2 Feb 2023, Don Holland initiated a Lawsuit in the District Court of the Western District of Texas against Logan Paul & executives at CryptoZoo (CZ). 

Plaintiff Holland alleged that Logan & Cryptozoo backers promised to give better returns & exclusive access to crypto assets among other benefits to the CryptoZoo NFTs holders but they kept the funds of the NFTs purchasers & ultimately abandoned the project.

Earlier this, on 15 Jan 2023, YouTuber Logan posted a tweet regarding all such allegations and said that he will fund $1.5 million (1,000 ETH) to the CryptoZoo NFTs purchasers as compensation.

Earlier this a YouTuber Coffeezilla also did research against Logan Paul & CryptoZoo project and found that the majority of the investors were at loss. Many reports claimed that Logan was planning to sue Coffeezilla’s host over degrading his reputation. 

Logan confirmed that he will no longer plan to sue Coffeezilla because such steps will not help CryptoZoo investors, instead will focus on delivering the roadmap and making things right with fans and investors. 

Such types of news are showing that people should remain aware of any type of new Crypto project, no matter who promotes or supports it. Crypto Investors should research & investigate themselves to find out the reality behind the new project instead of following hype to make money.

Read also: India introduces Crypto TDS penalty law