Logan Paul, a popular influencer, filed a defamation lawsuit on June 27 against Stephen Findeisen, also known as “Coffeezilla” on YouTube, due to videos he made regarding Paul’s unsuccessful CryptoZoo non-fungible token (NFT) project in 2022. The lawsuit, submitted in a San Antonio, Texas District Court, alleges that Findeisen intentionally spread false information accusing Paul of running a scam in connection with the CryptoZoo blockchain project.
According to the filing, Paul initiated this defamation suit to hold Findeisen responsible for his actions and the significant damage he caused to Paul’s reputation by spreading defamatory lies. Coffeezilla released three YouTube videos in late 2022 discussing CryptoZoo, labeling it as “Logan Paul’s biggest scam” and claiming that Paul had deceived his fans by not delivering on the promises of the project.
Paul, on the other hand, asserts that Coffeezilla failed to include crucial details in his videos that showed Paul’s genuine dedication to CryptoZoo’s success, but he was misled by advisors who later turned out to be fraudsters. Paul specifically blames Eduardo “Eddie” Ibanez and Jake Greenbaum for the project’s failure, accusing them of prioritizing personal gain over creating a legitimate project.
Despite threatening Findeisen with a defamation lawsuit in late 2022, Paul decided to focus on rectifying the situation by implementing a $1.5 million recovery plan for CryptoZoo. However, his efforts did not yield the desired results, and he ended up spending $1 million to repurchase the NFTs between January and March without earning any profits from the project.
In the lawsuit, Paul is seeking damages exceeding $75,000 along with interest, legal fees, and any additional damages as determined by the court. The CryptoZoo project, which was launched in 2021, aimed to be a game where players could purchase NFT “eggs” using the ZOO token. These eggs would hatch into animals that players could breed to create unique hybrids for trading and earning more ZOO tokens based on their rarity.
As of now, the ZOO token has plummeted to zero market capitalization, with minimal activity recorded in the past day, according to CoinMarketCap.