Logan Paul is back to making noise in cyberspace, this time he is suspected of committing fraud under the guise of selling a crypto coin called Zoo Token, from a project called Cryptozoo. This allegation arose after a YouTuber named CoffeeZilla released a series of video results from his investigations which managed to attract a large number of viewers.
At the time of writing, the first video of CoffeeZilla's investigation into the Logan Paul scam has over 7.5 million views on YouTube. The second video has been viewed 4.3 million times, and the third video has been viewed 6.1 million times on YouTube.
Logan Paul allegedly conspired with several of his colleagues to create a crypto coin project and sell it to Logan Paul's fans, but after the coin launched on the market, there were many problems until finally the value of Zoo Token plummeted and investors (buyers of Zoo token coins) were left without news.
Until finally 3 videos appeared from a YouTuber named CoffeeZilla explaining what really happened. After conducting an investigation for a year, CoffeeZilla explained what really happened, especially behind the scenes of how the Cryptozoo was created and why Logan Paul had to be responsible.
This timeline is based on investigative videos made by CoffeeZilla (YouTube channel) and several other sources. I highly recommend that you watch all three of CoffeeZilla's investigative videos of Logan Paul's fraud. All video links are at the end of this article.
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The Beginning of the Creation of the Cryptozoo Project
March 2021: The Cryptozoo project begins to be discussed and planned by the people below in a chat group.
- Logan Paul (Founder)
- Jeff Leving (Logan's Manager)
- Eddie Ibanez (Lead Developer)
- Jake "The Crypto King" (Advisor)
Initially, they planned to make a project where the business as a whole would be sold directly to big investors. But in the end, they decided to continue the project themselves without selling the business.
They decided to create a project called Cryptozoo and created a crypto coin called ZOO token. Although the plans have changed slightly, the goal remains the same, namely, they want to make as much money as possible from the project.
Logan Paul is here as the project leader and provides ideas on what's in cryptozoo. Jeff Leving isn't much like Logan but pays more attention to details.
Eddie Ibanez is responsible for creating the project and being the coordinator for the developers who make this Cryptozoo application/game. While Jake served as an input provider because he was considered experienced in business in the crypto world.
Manipulating the market by quietly launching the token
June 11, 2021: Now that the ZOO coin/token is ready for publication, Logan Paul and colleagues are looking for ways they can take advantage of it before the general public buys their coin.
After discussing and thinking hard about how they can do a pre-sale without violating the law, Logan Paul and his colleagues finally decided to launch the ZOO token, but secretly.
The goal is that they can buy the tokens first before many people know about them because the price is definitely still very cheap.
This action has shown that all involved in this project do have the intention to win alone. ri-techno. In fact, they have to work hard to find ways to outsmart the law in the cunning ways above.
By launching this secretly, they can get a lot of coin stock and of course, the value of the coin will increase when Logan Paul publicly announces it. This shows that they don't want to break the law, but it doesn't matter if it harms other people.
Internal Hostilities Occur
June 11, 2021: Still during the silent launch, When Logan Paul and colleagues conducted a silent launch and started buying their own tokens many times secretly, there were parties who didn't follow the initial plan and made them accuse each other.
This is the initial plan of money used for the buying and selling process secretly. They will continue to buy and sell until the value of the coins they buy continues to increase in price.
- Dani (Logan Paul's Assistant) $20k
- Jeff $100k
- Logan $100k
- Eddie $100k
- Jake (not listed in the list)
During the buying and selling process, they discovered that there were parties who had deliberately bought more tokens than agreed upon, which resulted in them losing enormous profit potential. Of course, no one confessed.
After the Coffeezilla investigation, it was discovered that this person was Jake "The Crypto King". Jake is known to have bought the coin for $200k (2x more than the coin Logan bought). He bought these tokens with different accounts.
At this point, from the start, only 5 accounts conspired to buy ZOO coin stock at cheap prices, so there were about 30 accounts (wallets) trading ZOO coins, and many of them were unknown.
However, this problem did not become an obstacle for Logan Paul to continue the project and continue to publish it to all his fans. Of course, it had to be announced, because they needed more buyers to keep the value of the ZOO coin going up.
Start Heavy Promoted by Logan Paul
August 18, 2021: For the first time, Logan Paul publicly announced the Cryptozoo Project on his podcast called IMPAULSIVE, and since then he has been promoting this project non-stop. Logan looks very excited and believes that the project he is making will be a huge success.
Perhaps this is also what made Logan Paul the main target of the failure of the Cryptozoo project. Apart from saying that this was a project that he personally developed, Logan was also seen actively promoting Cryptozoo long before this project was officially launched.
For the last six months I've been working on my own NFT project, We have a massive team behind it and probably out of pocket like a million (dollars) just because we believe it's gonna work -Logan Paul
Those are the words he often says on every podcast or every chance he gets a stage to speak.
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The public market is getting interested and buying ZOO coins
August 18, 2021: After Logan promoted Cryptozoo on his podcast, general investors or the wider community started looking at the ZOO coin and started investing in it. Many of the Cryptozoo investors also learned about this project for the first time from the IMPAULSIVE podcast content above.
This also shows that Logan Paul is very shrewd in promoting this project even though in the end it is far from reality.
Since that first announcement, Logan Paul has been incessantly promoting the Cryptozoo project which he claims will be a game that can make money. Logan Paul has continued to promote the project on several occasions, including on other people's podcasts.
It's not an ordinary NFT project, it's a game -Logan Paul
Logan Paul also mentioned that the Cryptozoo project was not an NFT project in general, Logan said that this project would be in the form of a game application but could still make money.
Cryptozoo virtual eggs go on sale
September 1, 2021: Cryptozoo officially sells virtual eggs that can be purchased with ZOO coins and Ethereum. Keep in mind, these digital eggs can only be purchased, they cannot be played yet, but the public is very interested and buys in very large volumes.
Cryptozoo digital egg sales transactions at that time could reach more than 20 million dollars per day. This made the Cryptozoo coin value increase rapidly and the market cap continued to increase until it reached $ 2,000,000,000.00 (two billion dollars).
Manager Logan Paul knows Eddie Ibanez is a Troubled Person
October 2021: One month before the public launch of Cryptozoo, Adam Robb, an investigator who happens to be investigating Eddie Ibanez /Eduardo Ibanez informs Logan Paul's manager that Eddie Ibanez is under investigation and he found several irregularities that could jeopardize Logan Paul's project
Adam explained that he had investigated Eddie Ibanez and he discovered that Eddie had never worked for the NFL team that had won the Super Bowl and that Eddie had never attended MIT which meant he had never worked for the CIA, unlike what Eddie had often boasted about during his career. this.
However, it seems that Manager Logan Paul has his own opinion and continues to collaborate on this Cryptozoo project. Manager Logan Paul believes that Eddie Ibanez can still be trusted because he has acquaintances with rich people.
Logan Paul creates a new, identical coin
November 1, 2021: Due to discrepancies during the silent launch, Logan Paul created a new coin but identical to the first ZOO coin. ri-techno. The number of coins created is then distributed to the previous ZOO coin owners in the same amount so that the original coin buyers get the same amount in the new coin.
However, there are several wallets (accounts) whose ownership has been frozen by Logan Paul, including several of Jake's wallets. These wallets are considered suspicious by Logan Paul.
Jake also did not stay silent, Jake complained to the entire Cryptozoo team and in the end, several of his accounts (wallets) were re-activated.
Games never work and no guarantees can be cashed out
November 3, 2021: Symptoms of failure are starting to show. Investors have started to panic because all that Logan Paul promised has yet to be realized. Including the "fun game earns money" that he often touted.
The concept is that investors buy ZOO crypto coins and with these coins, they can buy a virtual egg that can be combined and hatched into various animal images (NFT). The pictures can be collected or can also be resold to be exchanged for ZOO coins.
However, as of the time of writing, the game is always buggy, and based on CoffeeZilla's investigation, the app is always in a "fixed" state and unusable by investors (buyers of ZOO crypto coins).
An investor (ZOO coin owner) named Rob (Helicopter Bob) explains that the promised game was never actually playable, he shelled out as much as $7000 to buy a digital egg in Cryptozoo.
Rob said that the game was never playable, and Rob said that the game of hatching the egg was also never clearly stated in the purchase contract.
The game at one time worked but had too many bugs (errors) then disabled again -Cryptozoo Mods
The ZOO crypto coin price started dropping drastically
November 4, 2021: After learning that the promised game had many problems and was not fixed, Cryptozoo investors started to panic and some of them started selling the coins they owned.
Within 24 hours, ZOO's coin price fell 63%. And after that ZOO coin price continued to decrease.
Some may still be able to benefit from selling these coins, but most of them don't have time to sell them at the price they bought them and even only have pennies if they are converted to dollars.
From this period, it was also alleged that Jake "The Crypto King" sold all of the ZOO coins he held. According to Coffeezilla's investigation, Jake made an estimated $6,000,000.00 (six million dollars) in profit from selling the ZOO coins he owned.
Logan Paul started avoiding the Cryptozoo Discussion
November 2021: After the price of the ZOO coin drastically reduced, Logan Paul began to shy away from investors who still held ZOO coins. Logan has stopped promoting the Cryptozoo project and has never mentioned anything related to this project.
On several occasions Logan and his team said that they were making a very big project but did not mention whether it was about Cryptozoo or something else. As it turned out sometime later it was not the Cryptozoo project, but another project called 99 originals.
Logan Paul kept quiet and avoided discussing Criptozoo in public until CoffeeZilla released its investigative video of Logan's deception. Meaning, Logan has been silent for more than 1 year and continues to avoid discussing Cryptozoo.
Parting ways with Eddie Ibanez and the Development Team ran away
2022: Before CoffeeZilla's investigative video came out, it was known that during this period Logan Paul had cut ties with Eddie Ibanez who was in charge of coordinating development.
From the Coffezilla video, it is also known that during this period the entire Cryptozoo development team left the project and brought the Cryptozoo program code as collateral because they had not been paid as previously promised.
The developer team was promised by Eddie Ibanez a fee of 1 million dollars and 5% of Cryptozoo shares.
Logan Paul released a new project called 99 Originals
April 20, 2022: Logan Paul released a new NFT project called 99 Originals, yup!. Instead of fixing the problems in Cryptozoo, Logan introduces a new project.
99 Originals is a project owned by Logan Paul which sells 99 photos of his own shots which are released and sold in the form of NFT.
Of course, this made Cryptozoo investors even more inflamed, and angry, and started accusing Logan of being a scammer. The YouTubers started discussing the failure of Cryptozoo.
Logan Paul clarifies (before the CoffeeZilla investigative video is released)
2022: After videos accusing Logan Paul of being a fraud surfaced, he began to respond and return to discussing cryptozoo.
From the response he gave, Logan Paul seemed to want to show that he was actually one of those who were harmed. Logan reasons that he also lost money on the Cryptozoo project.
Logan added that he and his team are currently making improvements to the project and said that he still has confidence that the Cryptozoo project will be successful.
However, as we know, the "improvement" has not been seen until now and it seems like those are just words of sweetener so that he is not considered a fraud.
Logan Paul recruits a new team of developers
2022: After the original dev team left, Logan brought in a new dev team to fix Cryptozoo. At this stage, it looked like the problem would be solved soon but that didn't materialize because this new team was also facing the same problem as the previous developer team, namely payment problems.
The new dev team resigned
2022: For almost the same reason, namely payment (in this case it was paid but it was always late), the new developer team resigned. They can't seem to stand the treatment of Logan Paul's team who always withhold payments.
It looks like Logan Paul's team should reevaluate how they are managing finances, I'm sure it's not that they are penniless but that they are underestimating their obligation to pay on time.
Coffezilla Investigation Video Of Paul's Logic Fraud Released
December 2022: YouTuber CoffeeZilla releases 3 investigative videos about Logan Paul's scam at Cryptozoo. CoffeeZilla says that these 3 videos are the result of a year-long investigation into Logan Paul's Cryptozoo project.
List of 3 Coffeezilla Investigative Videos of the Logan Paul scam.
- Investigating Logan Paul's Biggest Scam (YouTube Videos)
- The Biggest Fraud in Logan Paul's Scam (YouTube Videos)
- Logan Paul's Biggest Scam Ending (YouTube Videos)
These three videos finally got the attention of many people, the first video entitled Investigating Logical Paul's Biggest Scam this writing has been watched 7.5 million times on YouTube.
Please watch it because the content is very detailed and it also shows why Logan Paul must be responsible for all the losses experienced by investors.
The first video shows that Logan Paul is very active in promoting the Cryptozoo project and promises various things that will be in this Cryptozoo project. Ri-techno. For a long time, he was silent, never spoke about Cryptozoo again, and left many investors wondering.
In the second video, Coffeezilla discusses the people behind the Cryptozoo project. And there it was revealed that the team behind Cryptozoo were people who had experience in fraud.
In the third video, Coffezilla reveals how Logan Paul and his colleagues planned the deception and carried out the launch quietly so that they could get as much profit as possible and not care that other people would be harmed.
Hopefully, this article about the chronology of the Logan Paul fraud case is useful. If you have questions or opinions about this case, please save them in the comments column below as usual. Remain a wise user.