"Filled with a bunch of inaccuracies" - Lawyer who sued Logan Paul reacts to latter's CryptoZoo buyback program, calls it a "PR spin"
Logan Paul is back in the spotlight with his recent announcement on X regarding a CryptoZoo buyback program. This move aims to compensate individuals who incurred losses after investing in and supporting the NFT game. However, certain details remain ambiguous, and AttorneyTom, a member of the legal team that has filed a lawsuit against Logan, responded to the X post.
AttorneyTom highlighted that Logan's proposed program falls short of fully compensating all types of losses. Individuals who exclusively invested in NFTs will have an opportunity to reclaim their funds, but those who purchased Zoo tokens may not be eligible for reimbursement. Here's how the lawyer described Logan's post:
"I think it's filled with a bunch of inaccuracies, misstatements, and quite frankly, just a PR spin."
Logan Paul's buyback initiative broken down by lawyer who sued him
For over a year, Logan Paul has been accused of facilitating an alleged crypto scam. Many investors who bought into his project have complained about the game's incomplete development, as a result of which they have incurred substantial financial losses.
After a year, Logan Paul has broken his silence on the situation, announcing the launch of a buyback program. He wrote:
"I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price."
However, AttorneyTom responded to the post, stating:
"This buyback is for base eggs and base animal CryptoZoo NFTs. Only the NFTs. Only the base NFTs. Not the Zoo tokens or the Hybrids."
Responding to another aspect of the post, AttorneyTom highlighted that Logan had categorized the Zoo Tokens as non-refundable, asserting that they were not initially presented as an investment opportunity.
However, the lawyer also pointed out the contradiction, stating that, in reality, Logan and his team conducted a secretive launch, acquiring the tokens for themselves, ostensibly as an investment opportunity before making it available to the public:
"Mind you, the founders assigned themselves billions of these Zoo tokens, they attempted to pay service providers, developers and zoo tokens allegedly. Allegedly they bought Zoo tokens at an artificially low price because they stealth launched it."
Users who have previously invested in the NFTs can file their claims here starting February 8, 2024.