Home > NEWS > Logan Paul and CryptoZoo hit with lawsuit as investors take action

Logan Paul and CryptoZoo hit with lawsuit as investors take action

Plaintiff Don Holland has filed a lawsuit against CryptoZoo and Logan Paul, alleging the YouTube influencer’s “fraudulent venture” executed a “rug pull.”

In a recently mentioned class action lawsuit, CryptoZoo and Logan Paul were listed as defendants, accusing him of stealing buyers' use of multimillion-dollar cryptocurrencies through "fraudulent expeditions".

In a court filing filed with the Texas West District Justice Department on February 2nd, the appellant Don Holland accused Wade and CryptoZoo (CZ) executives of "pulling the blanket" by promising exclusive agents to browse login password property and other benefits to buyers who could not change dynamic passwords (NFT), but eventually abandoned the new project and retained assets.

"as part of the defendant's NFT plan, the defendant sells the product CZ NFT to the buyer, falsely claiming that it is a swap for the cryptocurrency option CZ NFT, which will benefit the buyer later, including rewards, exclusive agent browsing of other cryptocurrency property, and its online ecosystem for application and marketing CZ NFT," it wrote.

"in fact, shortly after the completion of all CZ NFT sales, the defendant and others [.] Together transfer the use of millions of dollars worth of buyers' cryptocurrencies to locations such as the defendant's manipulated wallets, "it declared.

The complaint was filed through Ellzey&Associates and lawyer Tom and Associates, the latter of which is a law firm run through YouTube personality trainer Tom.

In a YouTube video on Jan. 16, Ms. Tang told viewers that she was suing Wade for so-called login password fraud after weeks of investigation and analysis and communicating with many data-encrypted wildlife park victims.

According to Tom Guru, many of the defendants named in the lawsuit include Danielle Strow Bear, Jeffrey Chalmers, Redmayne Ibanes, Jason Greenbaum (Crypto King) and Orpheus Bentoff (Ben Roth).

Although Wade released a $1.5 million fix based on a video on Twitter on Jan. 13 to help resentful investors in CryptoZoo's new project, the lawsuit continues.

He revealed that he would not sue CoffeeZilla because she accused the CoffeeZilla project of being a scam and said suing him was "not helpful to the holders of CryptoZoo", adding that she wanted to work on "his fans and supporters".

Related: Logan Wade did a somersault over Coffeezilla's libel suit, apologizing

Wade outlined that her restoration plan would include three stages-declaring that the first phase would be for him and CryptoZoo founder Cheryl Chalmers to burn and dispose of these people's tokens at the zoo.

He responded that doing so would have "no monetary benefit" in the game, which would "add value to the holder's tokens".

Wade claims that the second phase will involve his own commitment of 1000 ETH to the project, so that "sad" investors can burn his NFT to get back their initial investment of 0.1 Eth, which is also the cost of forging NFT.

At the same time, the third is the last step, hoping to "deliver mobile games as described in the industry report".

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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