Defamation Lawsuit Details

Alleging Findeisen “maliciously and repeatedly [published] false statements accusing Paul of operating a scam,” in relation to the CryptoZoo project, the complaint, filed on June 27 in a San Antonio, Texas District Court, claims The lawsuit claims Paul wants Findeisen responsible for the major damage libelous lies bring to his reputation.

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Beginning in late 2022, Coffeezilla posted three YouTube videos calling CryptoZoo “Logan Paul’s biggest scam” and charging Paul of robbing his supporters of NFT money retention without delivering the promised product.

Paul’s Defense and Counterclaims

Coffeezilla deliberately removed facts proving Paul‘s dedication to the success of CryptoZoo, claims Paul. According to the lawsuit, Paul was misled by reliable consultants who proved to be fraud artists. The lawsuit says, “Findeisen knew full well that Paul had never set out to scam anyone, but to the contrary had always intended to build a legitimate blockchain-based game.”

Paul blames Eduardo “Eddie,” a fraud, and Jake Greenbaum, an advisor supposedly more focused on personal profit than in supporting the development of a credible enterprise, for the collapse of the initiative.

Late 2022 Paul thought about suing Findeisen, but he decided to concentrate on a $1.5 million CryptoZoo recovery plan. Notwithstanding these initiatives—including $1 million to purchase back NFTs—the idea did not come to pass, hence Paul went on with the case.

Legal and Financial Stakes

Paul is claiming damages more than $75,000 plus interest, attorney expenses, and further damages decided upon by the court.

Background on CryptoZoo

Originally set to open in 2021, CryptoZoo was meant to be a game which users purchase NFT “eggs” using the token used in the game. Based on rarity, players may exchange these eggs for additional ZOO tokens as they would hatch into animals that could be crossed to produce hybrids. With no trading activity, the ZOO token has, however, essentially dropped to zero market capitalization.

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The NFT project was intended to be a “play-to-earn” (P2E) game allowing players to buy, sell, breed, and trade animals with cryptocurrencies. However, despite the YouTuber announcing the project in August 2021, the game was never released. This situation led to allegations of fraud and a class-action lawsuit against the celebrity.

Throughout this debate, many commentators urged Paul to compensate his investors for their losses. They closely monitored the progress since Paul promised repayments almost a year ago.

On January 4th, Paul finally shared a website where NFT owners could participate in a $2.3 million buyback program, allowing them to repurchase their NFTs at their original prices. According to the YouTuber, claims can be submitted through the website until February 4th.

While this news appears positive for those who bought NFTs, some believe there might be other reasons behind Paul’s move. YouTube researcher Stephen Findeisen, known as “Coffeezilla,” pointed out a disclaimer on the website, stating that participants in the buyback program waive any claims against Paul and CryptoZoo.

Making a video on the Logan Paul situation: i'm super happy some of the victims will get refunded 1 year later.

but let's not pretend there isn't ulterior motives. Logan is being crushed in a lawsuit right now. As usual he's trying to save his own skin. pic.twitter.com/ESmeE8gP1x

— Coffeezilla (@coffeebreak_YT) January 5, 2024

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