Five HIDDEN DANGERS in Logan Paul's CryptoZoo "Refund" | LAWYER EXPLAINS
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- čas přidán 27. 04. 2024
- In this video we go into the latest installment of the long saga of Logan Paul and the alleged victims of his NFT project, CryptoZoo. Recently, Logan announced a buy-back program for Base CryptoZoo NFTs. However, when we look at some of the finer points in this program, we can find at least FIVE hidden traps that any claimants NEED to be aware of.
TIME STAMPS:
0:00 Introduction
0:45 Background
4:41 The Five Hidden Traps
4:56 Trap No. 1
5:31 Trap No. 2
6:24 Trap No. 3
8:32 Trap No. 4
9:17 Trap No. 5
12:58 Why Logan Paul Is Doing This Refund
15:15 What Do YOU Think?
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#LoganPaul #CryptoZoo #LoganPaulRefund
Getting blocked by Logan is a W
Hehe I kind of saw it that way too 🙃
JUST WAIT UNTIL I BLOCK HER
@@AndyTheGameMakerLLC lol Andy…
I realized he HADN'T blocked me, and even though I'm a random nobody, I did reflect a while; what have I been doing wrong?
Sometimes the trash takes itself out.
This is perfect proof of how the US is utterly lacking in consumer protection laws. Here in New Zealand, he'd be legally required to give a full refund. The buyback program would be legally unacceptable.
Our law also would not allow him to say, "It doesn't matter that it went to the wrong account because you signed a no liability contract." The law would say, "Nope, you don't get to do that. You are legally required to ensure you refund the correct person regardless of what your contract says."
It also wouldn't require an expensive legal fight either as we have a specialist court that deals with these matters with very low costs associated as they are resolved within usually a few hearings or sometimes even as little as a single hearing.
Overall, we may go a little too far sometimes, but I still prefer our consumer protection laws over the severely lacking ones of the US.
NZ has a gross nanny state
@@fernandor3854 Yes, we do. But in that one area of law we do better.
Cool, keep simping for shills and cons. looks good on you.
@@KDBunce-wl5xkI'll let naive people get ripped off by a known scammer if it means I'm not living in a nanny state.
Same here in Aus. You can't put in anything that denies the other party the ability to sue or it renders the whole contract null and void. I call that an added freedom. You're free to make decisions knowing that the court has your back if the other person does you a dirty.
Great summary as usual Alyte. Brilliant that you shouted out Coffeezilla to give him credit for all of the hard work he's put into this, a lot of channels don't and haven't. We need to draw Coffee's attention to this video too as I'm sure he'd appreciate the legal breakdown from a very good civil litigation lawyer ❤
Still crazy how these rug pulls can't land these people in jail for scamming people.
I knew of some of the shady language in the refund, thanks for exposing the rest of the dubious dealings of it.
Was there something I missed in this video? Let us know in the comments!
I don't think it was ever possible to create the hybrid nfts. Even hatching base eggs was only possible for only some people.
@@tudalex It seems to have been based on the fact that it's the *token* that is non-fungible and decentralized, the file that the token's URL points to can be changed at any point. IIRC there was another NFT project that got so annoyed when the buyers complained about the values tanking that they changed all the images to a trolling image instead.
So CryptoZoo could replace the egg JPEG with an "animal" JPEG on the server it is hosted on. Which the token "owner" has no control over.
I'm wondering if doing all this is really cheaper for him than to just pay back the investors. He has a drink company that makes him a ton of money, all he has to do is pay back the investors, get the good press from finally doing the right thing and move on. It might even be a way better move in the long run to get the good press from this.
Honestly I don’t know. There could definitely be some ego involved here. At the same time, it’s my understanding that his WWE persona really capitalizes on the aspect of him being a public “villain.” So there also could be monetary value in him being the “bad guy” at this point, crazy as it sounds
I'd say it's ego and greed.
They have over a billion in sales of that gross ass drink.
He probably wouldn't even have to refund all of it, like $18m isn't a ton to him at this point. A lot of people probably moved on and he would only have to refund the big buyers suing him.
Its laughable how greedy he is being when being sued for way way way way more than $18m, the legal fees alone are going to be more than that.
I hope he is taken to the cleaners.
It's in the paul Brothers' dna to not do the smart thing
Logan is a scammer and very greedy. He is just hoping it doesn't get a lot of attention again. It's obvious to me it was a scam from the beginning. As if he didn't have enough money that he had to try and scam people. He is just a bad person
What!?!? Logan Paul continuing to be shady??? I don't believe it.. 🤣🤣🤣
he waits a year to refund at all then tries to pay as little as possible while not taking accountability through the lawsuit😭how can someone this blatantly underhanded get away with it
It’s simple actually he’s a businessman, he realizes the only way he can make this level of wealth is scamming people and when he gets busted he starts to evade the problems by paying people off and more so if you don’t know Logan has a net worth around 300-500 million dollars so seeing the kind of money he has he can afford these stupid scams.
get away again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again and again
He would rather spend $10 million dollars to buy a useless pokemon card than refunding a single cent to any victims. This is just his tactic to NOT refund anyone.
I caught almost all of the video and it's great, but some attention was deservedly caught by the adorable kitty sleeping next to you 😊❤️
I had to re-watch and listen after I got distracted by the cute interaction of kitty briefly waking up to watch and monitor the doggo doing wake up yoga stretches and stage exit ❤😂
Parents, let this be a good lesson for your impressionable kiddos. Logan and his brother are both very popular with teens. Logan absolutely used his "fame" to influence buying into this crypto. The guy flaunts his wealth, even though it would seem much of it was made from nefarious means. This entire NFT project was designed to get money from people (Coffeezilla has a great series on the entirety of the scam) and Logan just lawyered up and turned on his dev team as soon as the heat became too hot for him.
Show your kids what really happens behind the scenes with some of these influencers," who NEED your attention and want your money, and will manipulate to achieve their goals.
Phenomenal video! Love the level of detail in your explanations. You earned a new sub for sure.
I wanted to say, that in Ethereum you pay gas fees based on Network usage and not the amount you send. So it really does not matter if it is 1 dollar or 100000 you pay the same fees.
It's between 1$ and 4$ these days
just subscribed! noticed your cat loungng around in the background, such big ears lmao
I don't do crypto, but I live how you go over all of these things so well and with regular language!
Getting blocked must have been a highlight for the early 2024 year lol. Wonderful video as always. Thank you for everything you do.
People should of seen a red flag when NFT was mentioned
In his case, red flag when Logan Paul is involved. He could be selling tissues and I still wouldn't trust him
The kitty and doggo seems to have a really cozy nap. Almost doesn't look real. Love to all pets. ❤
Appreciate the recap and your perspective!
When does an agreement that include waiving your rights to... well, pretty much anything, get ruled invalid? I'd be curious to see an analysis of that, as this case feels so scummy and transparent, but I'm curious what the law thinks crosses the line.
This videos are awesome, this details are something that only a experience lawyer would notice ex. The "this settlement is a tentative to reduce the class action"
As someone with no in depth knowledge about crypto and nfts, the way Logan described the game sounds like a scam right off the bat. It sucks that it was a rug pull, but there is something to be said about many of these people being grown adults who should know what they are doing with their money. Play stupid games, win stupid prizes.
Being dult does not help - after all, all forms of gambling has age restrictions which means it is adults who get fleeced.
So really this settlement can be described as: you get 0.10 Eth minus gas for the entire enchilada.
100k in losses- first NfT is accepted, all others are rejected: here’s your 0.1ETH, minus whatever fees LP elects to apply.
Dude’s copping to deceit, then saying “trust me”…
Super great insights. Excellent video!
I imagine he would limit the reimbursement to a single NFT per person and then point at that transaction as evidence that there was a compensation provided to the people as per the legal documentation that they agreed to when participating in the buy back to try to better solidify his position.
Would love to see you cover the Jerrard "the completionist" saga ongoing as he has seemingly on the surface at least stolen money from his charity.
what would happen if twitter and other social media, have a listing page on the profile with their block list being public?
10:18 this part is BANANAS
There can't be hybrids since the game doesn't exist, right?
There were brief periods where the game did kinda sorta work and people were able to make hybrids. However, it was apparently buggy as heck, and so they shut it down each time. As a result, there are barely any hybrids in existence, but they *do* exist :O
It isn't a refund offer, it is a stealth settlement offer. Quit calling it a refund. Make Logan change his language and admit it himself.
Point 1 is mute. In crypto currency, the primary transaction sender ALWAYS pay’s the fees. If he’s sending a refund, he pays the fees. Simple.
Yeah the sender has to pay it but her concern is that he would deduct that fee from what he is paying back. Say I owe you $5, it costs a $1 fee to send it to you, so I send $4, fee gets added and I can say “well I paid/sent $5”
@@SewFloSewing If he deducted it, he wouldn't be sending a refund. That doesn't make sense. If your refund is .1 eth, you send .1 eth, and the fees come after and on top of that cost. If they receive less than .1 eth, then technically the did not receive their refund. Currency is currency, it works the same way with dollars. You receive what you spent, not minus transaction fees.
Not to mention, depending on the platform and the blockchain, calculating gas fees for different currencies is a futile effort. They can literally change from minute to minute. So it doesn't make sense to even attempt it if you're delivering a "refund," of original currency volume.
I get it, everyone wants to paint the refund effort in bad faith, even though I'm quite sure no other crypto program would ever, nor has ever done this, but assuming they're going to deduct transaction fees is frankly silly.
Moot
Thanks combing through this
Thanks for another grate video. I guess people with too much money are afraid of losing it. In a case like this, is it each individual plaintiff that sues him or are they combined? Because if one wins, then all would probably win and it kinda seems unfair for him to pay legal cost to fight each individual. Also is it illegal or frowned upon to get information from AttorneyTom?
He’s not awesome. Thankfully, you’re awesome. Love your content 💜
Thank you!! 💙
I just hope none of the investors get suckered into this buy-back, they've suffered enough trusting logan the first time...
the more I hear about this, the more I feel as though all this writing is less to protect himself and more to keep the money.
'I have the right to deny which NFTs come back I see fit, but I also have the right not to be sued if the money goes to the wrong wallet, and you will pay the fee.'
so he can send the cash to the wrong wallet, being one he uses, and just run
That wouldn't help him legally though, just make it harder to sue him
Ambiguity in a contract benefits the party that did not draft it.
If logans team hasnt defined a particular state, doesnt that mean he is open to litigation in all states?
They are expected to define out criteria at the earliest possible time and if your handing out the cintracts now, that time has long gone and any adjustment to terms at this point, cant be permitted, surely.
I’m guessing it will benefit the people who can afford to even start that fight. Smaller fish with less resources or insight to the process will get steam rolled?
i think not in the us
Remember, Logan Paul doesn't care. He has not, will not, nor will he ever care. If you just sign a piece of paper to say "He MAY potentially give you like a little bit of your money back", you are an absolute fool. It took him like a year to even get to this point, and only because he was being sued, after getting exposed by The Man, Coffeezilla, so if you want your money back, actually get your money back, suing him is the only way.
But frankly, people who believed in Logan Paul and doesn't destroy him, good luck. He is just gonna do the same thing again, because it is Logan Paul. I mean, I just have to point to every pump and dump he has been a part of.
What happens if someone has multiple NFTs that they enter into the buyback program, and then Paul decides to not refund one of them under Trap 5? Wouldn't that person then be stuck under Trap 4? And then under basically all of the other Traps??
Possible the company Logan set up for this is thinking about dissolution based on debts etc and so more settlements, whilst also releasing company from any future legal liabilities, increases creditors and amounts owing with no income (presumably) now along with legal fees on top...
Heh, sounds like a trump card
If you're going to make it an investment make it a boring one or just go to las vegas instead
What, hidden traps so you can't sue him. Never could see that coming from him at all. But I have seen a few talking about it.
It wasn't me/
Coffezilla caught me red handed /
It wasn't me/
Will you be covering South Africa's case against Isreal?
Pretty sure there's a clause in his WWE contract about scaming people. I believe he's out if he gets nailed in the class action.
Doubt so. Even if there is, WWE doesn't care. Just look at their history.
The buyback isn't even worth it... Better to just join the class-action lawsuit
Yep
Fools and their money is soon taken by fools . . . .
so... they took their own money?
Can someone buy only like 10 base NFTs from victims for 0.1 Eth each and submit them for the claim from Logan? And see what legal pits lay in that vaiver. I think that would've been a great video after 1 month for return claim to close.
Two huge non-hidden dangers are signaled in the video title: "Logan Paul" and "crypto". Either is a red flag, but combined?
Any adult that takes financial advice from someone as vacuous as Logan Paul deserves a lesson. What I worry about is how he is a role model for children and adolescents. This is the guy that joked around in that Japanese forest. There's something deeply wrong with him as a human being. I think he needs to be stopped in a more emphatic way than some lawsuit, but it seems there's a disconnect between his real life reputation and his reputation among his fans and their parents.
Those cats are dope
Coffeezilla does great videos on this
Dudes got an army of lawyers he's not going to lose out much on this.
at this point it jsut feels like people can kinda pull whatever shit they want and get away with it- at what point will he face any consequences for this??
Yes, complete the egg bridge.
How pathetic can you get that even now he can bare face bullsh*t by saying he has taken the "real" offenders to court, when all he actually did was reply to the court, say it wasnt him and give some names to who he thinks is in the wrong.
And some how that translates to dont worry you dont need to sue me because im suing the "real" bad guys.
Absolute scum IMO
I hate that Logan Paul is the only guy I know to point to to convince people that the mullet is back in style
The concept was ridiculous from the off
If people ignore logan's "solution" can they still continue on what they are currently doing?
Logan Paul should be the dictionary definition of grifter.
How is he not in jail for this. It's clear cut financial fraud. He took payment for a product that was never delivered and won't give the consumers money back. In any other industry he would be investigated and charged. I'm still amazed how many people fall for this guys constant scams
4:12 LMAO
Does anyone know if Logan Paul has put any effort into fixing the game instead of just… issuing conditional refunds?
His refund outright says he’s not going to complete it. So he’s refusing to lose any money on this con.
@@dextokuyasu That’s what I thought. It’s very telling to me that he’s just letting the project go and not bothering to fix the game. I would *think* if he was completely innocent he’d want to get the game finished.
From the beginning, without reading a word of it, i knew it was an attempt to limit the amount of people in the class action law suit. Im sure everybody did. Logan isnt exactly the smartest scammer out there.
And the grift goes on...
If you are in this please sue Logan and call him a criminal in court please.
The ETH price is the same now as when zoo token was launched. You should have checked 😂
HE CAN'T KEEP GETTING AWAY WITH IT
Rich at ReviewTechUSA raised some important objections, in case you missed it.
If the suicide forest thing didn't do it for ya then the myriad of other scammy things he's done probably wont matter either. In my view, Logan is a straight up psychopath as everything he's done screams out his wish to exploit people with zero remorse for what he's done. I find it astonishing and sad that the government is unable or unwilling to put a halt to his grifting!
like he didnt think for a second that lawyer channels and coffeezilla would pick apart this "refund" paper and expose its unfairness that will then be echod by all the commentary channels?
dudes got no foresight at all
Right, these people just have no shame. Truly I don’t think he cares, it’s all about making himself look good to the people who still like/follow him because he needs their views and money. As long as he can play it off like it’s not his fault and he’s paying people back they have something to hold onto and most probably choose to not look too deep.
Why would he talk about he's suing he's associates then clear the "badguys" in the buyback as well. He's just full of sh**. Love your add about the fees as well, eth have notoriously high ⛽. No normal person use the main chain if they are not forced to. I used it once in 4 years. It's downright brain dead to use it.
Take him to court and take everything from him.
Fools gold
Imagine giving that 🤡 your hard earned dollars.
Seriously WTF?
That cat is sooo cute
Geez that is just not what a cross complaint is at all lol
Is it too much to hope this sinks Logan Paul and co?
So he's scammed/ripped off people and is aiming to do it again to the same people. Trying to push these people over the edge? Might want to beef up the security, sadly when backed into a corner people become unpredictable.
Be careful moving your chair cos you'll boop your kitty's nose.
Not gonna lie I think coffeezila should just sue Logan for taking credit of his work.
It’s just called X not “twitter/X”
why anyone would trust logan paul with money is beyond me
He is not going to refund it.
He should have just reversed all the transactions. He'd have to give all the money back plus pay the gas fees and all the transactions, but at least that's what he should do. It's like what a normal store would do or any place else that took your money
Unfortunately, you can’t do that with Cryptocurrency and NFTs. Doing that would require undoing all transactions everyone has ever done on the Etherium blockchain since then, including transactions that had nothing to do with Cryptozoo.
With that said, you can view each transaction that’s ever happened, and cross-referencing them and the gas fees with changes in the price of ETH could tell you how much you owe everyone…….if Logan actually cared x3
@Aquatj999 ok what I mean is you send me a logan coin. I dont pull through with the product so I send you your logan coin back. That can be with the contract. Its literally two lines of code. Changing the contract doest require undoing all transactions ever done on the eth block chain. They are layer 3. I have no clue what you think I meant. Its nothing but a thing to payback everyone. I write code and pretty familiar with smart contracts. To even say you cant do it at all with any crypto or nft is absurb. I really dont even want to know what you meant. We are talking about laying people back here. Reversing transactions, cant do it? what?
Now that I think about it, to seal it you write a revert opt code to stop any more and literally reverse the transaction in real time. They get the gas and all back. Dude theres code for anything. They wrote the smart contract. It doesnt matter where its deployed. They can make it do what they want to do. Thats a fact. I will leave with just one tiny example. The DAO hack. That split the community when they rolled back the blockchain. They literally deleted the blocks. wow imagine that. It was so controversial that the community split and hard forked its own coin. They reversed the hack and made the coin they stole worthless on the main net. Its a thing. Is it right or wrong is a whole other discussion.The uncle discussion. You dont know about that do you? You have enough to google. chop.chop. Ive been around since the start of crypto. I mine and have coded all my own stuff. Listen there's videos on my channel somewhere. I doubt I made them private. Im just saying I know all this. I do all this. NFT artist and all. My comment came off as dumb because I have to dumb it down. This isnt a crypto channel. The people watching dont know. As you proved. People probably think he cant pay people back. It wouldn't surprise me
I think Ethereum is worth more today than a year ago.
It is.
But it is still far below what it used to be when the majority of CryptoZoo buyers bought in.
Alyte I’m curious if you’ll be broadcasting or covering the genocide lawsuit South Africa has in international court against Israel? I’m assuming this is the most important subject to cover at this time
So even the refund is a scam. Anyone surpised? Anybody? No?
Come on people, just look at Logan Paul and his mates. Clear con artists. Him, KSI, iShowSpeed, Lana Rhoades and so on.
"I haven't looked at the relative value of Etherium today compared to a year ago but I wouldn't be surprised if it was just a little bit higher than then but still way, way lower than when people bought into the project."
You could have spent 30 seconds to look this up instead of speculating. It would add a lot of weight and credibility to what you're saying to actually do the research and present the numbers.
Given that its not really important (I mean the actual value of Etherium itself) to what the video is mainly about (the catches of how this "refund" prevents people from suing him)... I would say that its a detail that could have been included but isnt exactly neccessary.
It's important you join lawsuit not sign his deal.
Logan paul trying to be weasle his way out of everything because logan knows he is going to lose and have to pay every penny back including all tokens and more.
Put him in jail🎉
A bit of feedback: 5:18 ... Why didn't you take the time to look that up? Would have taken roughly 60 seconds. It comes off as lazy, in the midst of an otherwise well constructed video.
Maybe because it doesn’t really matter.
they will be rejected on not being mint anymore .. wanna bet? :p
Logan Paul is a con man, who got caught red handed and still tries to run away with the money.
He scammed his loyal fans. Don't buy his drink
Don't drink the Kool aid? 😂
Everyone stay strong and take Logan for everything he owes us..! He a lying scammer…!
I remember a friend once who was running an agency, lovely person, knew her stuff at work etc but her judgment in hiring people was horrible. One employee stole from her, another bad mouthed her, another didnt actually knew how to do the job, the list goes on. It wasnt her fault but she hired all of them so I agree there is some responsibility there. After following this lawsuit for quite some time i came to the conclusion that Logan just wanted easy cash by using his name and platform to promote it and assigned the whole thing to his staff without even knowing what a blockchain in or the majority of those hired. I mean its Logan, his due dilligence will be as far as checking someone's instagram. Tough luck tbh and hopefully he pays his investors back. The only part i give him the benefit of doubt is that he is not responsible cause some gambled their income in an NFT. if you put your life savings on an NFT that is an egg or an ape then i am sorry but you need to look at the mirror
did you know that jake the crypto king, the one who probably made the most money out of this, had already "scammed" logan for some pokemon cards? He made an entire video about it. He knew he was shady. All of them knew this was some "under the table" business. Logan had made another nft scam and he made another after crypto zoo. He got burned this time and probably didn't make any money, but he's not the kinda guy who will stop scamming because he has money lmao. there will be a next.
He knew who he hired. They plotted to pull out $$$ and sold it to themselves early for a lower price. It was a scam from the beginning
Logan is the biggest clown of them all
Let me summarize the entire video. *Logan Paul is a scam artist, don’t believe a word he says, lawyer up.*