28 March 2024 , 16:14
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Logan Paul has revaled he had 'suicidal thoughts' while being accused of scamming his fans in an ill-fated cryptocurrency project.
YouTube star Paul launched CryptoZoo in late 2021 but the game, in which users were supposed to make money by earning non-fungible tokens (NFTs), failed to ever take off. The project was called into question by a Coffeezilla, a YouTuber whose real name is Stephen Findeisen, as he uploaded a three-part series accusing Paul of being involved in a multi-million dollar scam.
CryptoZoo was never fully released, meaning those who bought NFTs allegedly lost thousands of dollars. Paul vehemently denied allegations he scammed fans and opened up about the failed project in a new documentary with Graham Bensinger. "For the first time in my life I was having suicidal thoughts," Paul said.
"I was just spiralling, Graham. Spiralling. I was crying, like sobbing. I felt weak, which is uncommon for me. I'm supposed to be the leader. I'm going to take care of the people who made me look like this was a scam perpetrated by me. I didn't make any f***ing money, bro. I lost half a million dollars on this."
Paul said he made CryptoZoo with the intentions of his fans at heart, although the game ended up doing more harm than good. The social media star blamed others around him, including Jake Greenbaum and Eddie Ibanez, for the collapse of the project and also lashed out at his longtime manager Jeff Levin.
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"I'm watching these videos because I don't know what happened with CryptoZoo. I was kept behind the scenes all of the time whilst Jeff was figuring out with the team. I know me, I'm not a scammer and would never scam anymore. I don't have to and I'm hyper cognisant that I'm only in the position I'm in because of my fans," he added.
Paul has now begun the process of buying back NFTs from fans who lost money in CryptoZoo, which he says will cost $2.3million. "This buy-back is a way for me to make whole those who intended to play CryptoZoo. The buy-back is not intended to compensate those who gambled on the crypto market and lost," he tweeted.