CryptoZoo NFT project fails, Logan Paul faces class-action lawsuit

According to a court filing filed on Feb. 2, YouTube influencer Logan Paul and his associates have been sued for the failed crypto project CryptoZoo.

In the lawsuit, Don Holland claims that the defendants pulled a “rug pull.” According to Holland, CryptoZoo was promoted via Paul’s online platforms, leading thousands to purchase the product. A lawsuit was filed against Paul’s associates Danielle Strobel, Jeff Levin, Ebbie Ibanez, Jake Greenbaum, and Ophir Bentov.

A lawsuit alleges CryptoZoo didn’t exist

Holland said he knew his money was likely lost after Logan Paul announced another NFT project and stopped paying attention to CryptoZoo. The Zoo Tokens and CryptoZoo NFTs have plummeted in value since CryptoZoo was never released as promised.

The lawsuit seeks restitution from Paul and his associates, who promoted and sold defective products. It also accused them of abandoning the CryptoZoo project and manipulating the digital currency.

The filing charged Paul and his associates with negligence, unjust enrichment, and fraudulent representation. They were also charged with fraud conspiracy and violation of Texas’ Deceptive Trade Practices Act.

Following Coffeezilla’s investigation into the project, the CryptoZoo NFTs gained widespread attention. Logan Paul later revealed a refund plan for dissatisfied NFT investors.

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