Logan Paul apologizes for unsuccessful CryptoZoo project

The YouTuber Logan Paul has apologised to his fans who made investments in his cryptocurrency startup, CryptoZoo. The concept, which was introduced in 2021, claimed to be a "fun game that pays you money" by allowing users to acquire and trade bitcoin valuables. 

Nevertheless, more than a year after it was introduced, no game has been made available, and the CryptoZoo website presently indicates that it is "undergoing renovations." With over 23 million followers on YouTube, Paul has a sizable fan base. He acknowledged paying over $1 million into the project's creation and boasted of having a "huge crew" working on it.

Paul said that he wants to "make things right" for individuals who lost money in response to another YouTuber's inquiry into the unsuccessful endeavour.

According to the CryptoZoo website, enhancements are being made.

It was stated as follows in a now-deleted description: "an autonomous ecosystem that enables exotic animal and hybrid trading amongst ZooKeepers. CryptoZoo is a straightforward, enjoyable game with well-known features that combines bitcoin with Non Fungible Tokens (NFTs) ".

Popular YouTuber Logan Paul reportedly worked on the CryptoZoo cryptocurrency project, which promised to let collectors buy cartoon egg NFTs and "hatch" them into randomly selected animal pictures.

The created new species from these animal photographs may then be "bred" to generate revenue for a related cryptocurrency called $ZOO.

But Paul allegedly stopped talking about CryptoZoo and gave up the business after purportedly selling NFTs and cryptocurrency valued at millions of dollars. Paul has been accused of defrauding investors by peddling them "worthless" digital goods.

In retaliation, Paul made a video in which he acknowledged using "conmen" and "felons" to manage the project but said he had done nothing illegal.

Later, after receiving criticism for the initiative from a bitcoin fraud investigator, he removed the video and apologised. What Paul's plans are for repaying investors or relaunching CryptoZoo are still unknown.

Paul has previously been connected to several contentious cryptocurrency initiatives, such as Dink Doink and SafeMoon, both of which are presently the target of class action litigation.