Logan Paul faces backlash after announcing $2.3 million in CryptoZoo NFT refunds
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YouTuber and attorney Tom and Associates law firm owner Tom Kherkher said that Logan Paul’s announcement to buy back CryptoZoo NFTs was filled with “a bunch of inaccuracies.”
In an X post on January 4, Logan Paul announced plans to “personally” commit more than $2.3 million to buy back non-fungible tokens (NFTs) purchased through CryptoZoo, an NFT-centric Play and Earn Crypto Game, the game didn’t live up to the expectations set when it was advertised, and received mixed reactions upon release.
In the latest refund announcement, Paul said buyback applications can be submitted through a special website until February 8. Early backers are unlikely to be compensated, though, as the website says claimants will receive as much money as possible. 0.1 ETH per qualifying NFT submitted.
Beyond that, Paul emphasized that the buyback “is not intended to compensate those who lost by gambling on the crypto market,” meaning buyers of ZOO tokens, an in-game currency that can be used to purchase NFTs, are not Too likely to be fully compensated. In addition, the claimant must also agree to waive any “actual or anticipated claims against Paul,” which means promising not to take legal action against him over CryptoZoo.
Tom Kherkher, a YouTuber and owner of law firm Attorney Tom and Associates, criticized Paul’s latest push for refunds, saying in an X post that the influencer’s buyback was a “sneaky ploy.”
“(Paul’s statement) is filled with a bunch of inaccuracies, misstatements and, frankly, it’s just PR talk.”
Tom Kirk
Alan Wehbi (also known as @doitbigchicago on Twitter), who claims to be the largest holder of ZOO, seemed unhappy with Paul’s buyback after discovering that Paul had been blocked by influencers on the social network.
“I have sent the text but if I am not healed from the loss of $ZOO and eggs within 7 days I will add you to the legal action list for 2024.”
@doitbigchicago
However, Wehbi did not specify how much he invested in ZOO tokens.
This isn’t the first time Paul has pledged to compensate those who have lost money in the cryptocurrency game, which the influencer said was “broken by bad actors.” In early 2023, the influencer unveiled a $1.3 million recovery plan “for frustrated players who contributed to CryptoZoo.” It’s unclear whether Paul has made any amends since it was first announced last year.
