Logan Paul Sues YouTuber Coffeezilla over CryptoZoo Scam Allegations
Summary:
Logan Paul, a social media influencer, has filed a defamation lawsuit against Stephen Findeisen, also known as Coffeezilla on YouTube, relating to videos discrediting Paul’s 2022 CryptoZoo NFT project. The lawsuit alleges Findeisen falsely accused Paul of running a scam and purposely omitted information portraying Paul’s commitment to CryptoZoo. Paul now seeks damages exceeding $75,000 for harm to his reputation. The unsuccessful project, CryptoZoo, was initially unveiled in 2021 as a game where players could buy, breed, and trade NFT "eggs".
In a recent development, social media celebrity Logan Paul has initiated legal proceedings for defamation against Stephen Findeisen, also known as "Coffeezilla" on YouTube. This lawsuit, lodged on Thursday, stems from disputed videos on Paul's unsuccessful 2022 CryptoZoo non-fungible token (NFT) venture. The suit was filed in a District Court based in San Antonio, Texas, and alleges that Findeisen deliberately and unceasingly issued misleading accusations, labelling Paul's CryptoZoo initiative as fraudulent.
A portion of the legal documentation read that this defamation suit was to establish accountability on Findeisen's part for the tarnished reputation Paul suffered due to propagated erroneous and disparaging information. Toward the end of last year, Coffeezilla published a series of three videos that criticised CryptoZoo, labelling it as “Logan Paul's most significant scam”. He further accused Paul of swindling his followers by pocketing the funds from NFT investors without fulfilling the remainder of the project's pledge.
In contrast, Paul argues that through deliberate information omission, Coffeezilla didn't accurately portray that Paul had an unwavering commitment towards CryptoZoo’s triumph. Rapport was lost to crafty deceit by individuals who were perceived to be trusted consultants but ultimately were swindlers. As captured in the court filing, Findeisen had clear knowledge of Paul's upright intentions to establish a credible blockchain-based game, nullifying any intent to scam.
Paul refutes this blame and shifts it onto Eduardo “Eddie” Ibanez, who purportedly impersonated a person he wasn’t, and Jake Greenbaum, a presenter who prioritised personal financial gains above the project's creation. Cointelegraph has attempted to establish communication lines with Ibanez and Greenbaum for a statement but hasn't been able to reach Findeisen just yet.
Despite previous considerations to sue Findeisen in the later part of last year, Paul opted not to. Instead, he aimed to rectify the situation with a recovery plan for CryptoZoo worth $1.5 million. When this recovery endeavor didn’t bear fruit, Paul used $1 million of his own money to repurchase the NFTs in the first quarter of 2023. He refutes having made any financial gains from it.
The lawsuit stipulates an excess of $75,000 for damages incurred, inclusive of interest and legal charges, and the court's discretion determines additional compensation.
CryptoZoo, initially introduced in 2021, was designed as an interactive platform. Players would purchase NFT "eggs" with ZOO, the platform's designated playing token. These virtual "eggs" were then hatched into unique animals that could breed to form hybrid offspring, which could increase a player's ZOO token depending on rarity. The ZOO token has seen a decline, effectively plunging by 100%, holding no market value and a previous 24-hour trading volume of just 1 cent as per CoinMarketCap.
Published At
6/28/2024 7:15:14 AM
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