The drama surrounding Logan Paul’s CryptoZoo project was seemingly over after the influencer posted a video on Twitter apologizing for the way investors were scammed out of money and promising to help repay people.
But a video posted by muckraking journalist Coffeezilla today suggested that Paul’s apology and promises were more about saving face and avoiding legal action than anything else.
Coffeezilla originally uncovered questionable scam-like behavior in the project, and he admitted that much of what Paul had to say was good news. However, he wasn’t going to let Paul off the hook completely.
Questioning some of the sincerity in Paul’s behavior, Coffee noted that parts of Paul’s apology and new approach fall a little bit “flat.”
“I don’t think I or the CryptoZoo holders were who Logan was addressing here,” he said.
First and foremost, Paul’s most impactful statement was that he is fronting $1.3 million, which he has since amended to be $1.7 million, to pay back people who own NFTs. However, Coffeezilla revealed that number is only a fraction of what was lost by investors.
Related: What is Logan Paul’s Cryptozoo project? Is it a scam?
Coffeezilla reported that there was about $7.7 million scammed away from CryptoZoo purchasers by people in Paul’s group, and the money he’s giving back is only to people who hold NFT eggs or base animals. It does not include anyone that holds the CryptoZoo currency.
“This is the strongest part of Logan’s entire response, actually opening up his wallet,” he said. “I don’t want to minimize that in this video. I just want to put it in context because $1.3 million is a lot of money. Unfortunately, the scam was much bigger than $1.3 million. So the fact is, most victims are not going to be made whole by this plan.”
Meanwhile, some of the things that Paul has posted in a Discord server dedicated to CryptoZoo show that he might still be out of touch. Coffee pointed out that there are multiple instances of Paul seeming to see himself as a victim in the grand scheme of things, despite his attempts to take some accountability.
In one post, Paul wrote that he no longer wants to be the “scapegoat” for other people making poor financial decisions, and obviously that didn’t go over well with Coffee.
“It implies that he thinks he’s the victim here,” Coffee said. “Logan had a simple job to do. All he had to do was just come out, apologize, get as much money back for the victims as possible, but he himself can’t help but play the victim here.”
