Logan Paul took to Twitter on Saturday to announce that he has filed a lawsuit against ‘bad actors’ that derailed his CryptoZoo project. The WWE United States Champion wrote,
“Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at http://EGGNFTBUYBACK.COM. Claims can be submitted through this site through February 8.
I approached the CryptoZoo project like everything else I am passionate about – with only the best possible intentions and success for everyone who shared our vision. I never made a single penny from the project, period. In fact, the opposite is true, because I spent hundreds of thousands of dollars trying to make it happen. With this buy-back program, I am personally committing more than $2.3 million to buy back Base Eggs and Base Animals from every person who intended to play CryptoZoo. Like you, I was highly disappointed that the game was not delivered.
As I said a year ago, CryptoZoo was derailed by bad actors. Bad actors who DID steal money and who betrayed our team while internally sabotaging the game. This has now been confirmed by an extensive investigation that has involved a forensic analysis of blockchain activity and the review of thousands of communications.
With this evidence in mind, today, I have filed a lawsuit in federal court in Texas to hold these bad actors accountable. The 25-page lawsuit is public and it can be found here: https://drive.google.com/file/d/1bu0WMbW3co-HlXq-HlXbLdpAOZSzJKmf/view?usp=sharing … This lawsuit is not based just on snippets of conversations taken out of context. This lawsuit is the result of an exhaustive investigation that included the review of the entirety of conversations and tracking nefarious trading activity related to the project. Nefarious trading activity taken behind our backs, without our knowledge, and with the intention of defrauding us all.
As far as the game itself, unfortunately it will not be released. I personally spent $400,000 to have it developed and after its completion in early 2023 & some further diligence, unfortunately, there are too many regulatory hurdles that would need to be cleared that I did not originally understand and would ultimately delay this buy-back even further.
This buy-back is a way for me to make whole those who intended to play CryptoZoo. The buy-back is not intended to compensate those who gambled on the crypto market and lost. It’s important to remember that the Zoo Token was created to support the CryptoZoo game and its players; it was “not intended as an investment vehicle,” as outlined in the original WhitePaper.
This solution has been anything but simple, so I want to thank everyone for their patience as we figured out the logistics of making sure the first ever NFT buy-back is a smooth process: http://EGGNFTBUYBACK.COM”
Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at https://t.co/XIQzLAGKiG. Claims can be submitted through this site… pic.twitter.com/VMPDHvdXkq
— Logan Paul (@LoganPaul) January 4, 2024
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Logan Paul, the WWE United States Champion, recently announced on Twitter that he has filed a lawsuit against individuals who derailed his CryptoZoo project. In his tweet, Paul stated that he is fulfilling his promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price.
Paul expressed his disappointment that the CryptoZoo game was not delivered and revealed that he personally spent over $2.3 million to buy back the NFTs from individuals who intended to play the game. He clarified that this buy-back program is not intended to compensate those who gambled on the crypto market and lost, but rather to make whole those who were interested in playing CryptoZoo.
The WWE United States Champion also mentioned that the CryptoZoo project was derailed by “bad actors” who stole money and sabotaged the game internally. This claim has been confirmed by an extensive investigation that involved a forensic analysis of blockchain activity and the review of thousands of communications.
To hold these bad actors accountable, Paul has filed a lawsuit in federal court in Texas. The lawsuit, which spans 25 pages, is publicly available for anyone interested in reviewing the details. It includes evidence gathered from an exhaustive investigation, including the review of conversations and tracking nefarious trading activity related to the project.
Unfortunately, Paul revealed that the game itself will not be released due to regulatory hurdles that would need to be cleared, causing further delays. He mentioned that he personally spent $400,000 to have the game developed but later discovered these obstacles.
Paul expressed his gratitude for everyone’s patience throughout this process and assured them that the NFT buy-back program would be a smooth process. Individuals who intended to play CryptoZoo can submit their claims through the website http://EGGNFTBUYBACK.COM.
In conclusion, Logan Paul’s announcement of filing a lawsuit against those responsible for derailing his CryptoZoo project sheds light on the challenges faced in the world of NFTs and the importance of holding bad actors accountable. Despite the game not being released, Paul’s commitment to buying back NFTs at their original purchase price demonstrates his dedication to making things right for those who shared his vision for CryptoZoo.