Logan Paul and CryptoZoo sued in class action lawsuit

CryptoZoo and Logan Paul person been named arsenic defendants successful a recently filed class-action lawsuit, which alleges they stole millions of dollars worthy of purchaser's cryptocurrency via a "fraudulent venture."

In a tribunal filing connected Feb. 2 successful the District Court of the Western District of Texas, plaintiff Don Holland alleged that Paul and executives astatine CryptoZoo "executed a 'rug pull'" by promising purchasers of the nonfungible tokens (NFTs) exclusive entree to crypto assets among different benefits but yet abandoned the task and kept the funds.

"As portion of Defendants’ NFT scheme, Defendants marketed CZ NFTs to purchasers by falsely claiming that, successful speech for transferring cryptocurrency to acquisition the CZ NFT, purchasers would aboriginal person benefits, including, among different things, rewards, exclusive entree to different cryptocurrency assets, and the enactment of an online ecosystem to usage and marketplace CZ NFTs," it wrote.

We person officially filed a people enactment suit successful the Western District of Texas against Logan Paul et al. for the CryptoZoo fiasco. (This is successful summation to the galore cases heading to arbitration connected the matter.) pic.twitter.com/BIC5v63TGZ

— AttorneyTom (@attorney_tom) February 2, 2023

"In reality, soon aft completing the merchantability of each their CZ NFTs, Defendants, unneurotic with others [...] transferred millions of dollars’ worthy of purchasers’ cryptocurrency to, among different places, wallets controlled by Defendants," it alleged.

The suit was submitted by attorneys from Ellzey & Associates and Attorney Tom and Associates, the second of which is the instrumentality steadfast tally by YouTube property Attorney Tom.

In a YouTube video connected Jan. 16, Attorney Tom told viewers that they are suing Logan Paul for the alleged crypto scam aft "weeks of probe and speaking to a fig of Crypto Zoo victims."

Other defendants named successful the suit include Danielle Strobel, Jeff Levin, Eddie Ibanez, Jake Greenbaum (Crypto King), and Ophir Bentov (Ben Roth), according to Attorney Tom.

This is simply a processing communicative and much accusation volition beryllium added arsenic it becomes available.