Getting into the spotlight for your failure to deliver in crypto can have positive effects. That's what happened with Logan Paul and his Crypto Zoo project.
First it was the 3 part investigation by CoffeeZilla shedding light into what happened with the Crypto Zoo project that brought the attention back to Logan Paul's forgotten Blockchain game that was never developed.
Then, Logan Paul published two video responses to the investigation. Those responses were egotistical and aimed at deflecting the blame without taking any accountability. As expected, they drew a huge public backlash from the Crypto Zoo investors, and crypto community at large.
It looks like public outcry worked. Sometimes it is necessary. Logan Paul decided to delete both videos. He also took back the threat of taking CoffeeZilla to court for his investigation. Moreover, he reached his Crypto Zoo community on Discord to take accountability for his failure and apologize. Honestly, that looked like his only way out of the mess he created.
To be frank, if he went through with the lawsuit, things could turn uglier for him during the lawsuit's "discovery" phase, and more incriminating facts could come to light.
It would make it easier for the SEC to come after him for insider trading due to the stealth launch and market manipulation that him and the other founders did, as highlighted by CoffeeZilla's investigation.
Affected investors could also contemplate launching their own lawsuits for financial damages due to said market manipulation.
Apologizing and owing to his mistakes is a good initial step, but is it enough? Not really. Logan promised that he will come up with a plan aimed at fixing things at Crypto Zoo. That's the most important point; delivering on that promise.
Will it work? That remains to be seen. The trust of people already invested in the NFT based blockchain game has been shattered. What needs to happen now is that the investors be made whole again and the game to be developed as per its whitepaper.
To end this write up; such situations show the power we have as a crypto community. If we remain ever vigilant, call out bad actors and demand accountability, our space will vastly improve. The immutability of the blockchain is on our side.
This article is a follow up to my previous one reporting on Logan Paul and the CryptoZoo scandal that you can read here.
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Disclaimer: The scope of this article is to provide information and make sense about what is happening with the Crypto Zoo project that Logan Paul launched and how it was exposed to damage its backers.
This article is NOT aimed to promote any project, token, or NFTs.
(Images from pexels.com, social media, & CryptoZoo.co, under fair use.)
Originally posted on my Leofinance blog. Updated version only on Publish0x.
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