The famous American YouTuber Logan Paul, with over 20 million followers on YouTube, faces new accusations linking him to a possible scheme to enrich himself at the expense of his fans, taking advantage of the cryptocurrency market.
According to a BBC report, in 2021 an anonymous wallet purchased USD 160,000 in tokens of the memecoin Elongate shortly before Paul posted on X (formerly Twitter) a video claiming that this coin had made him rich. What was the result? The token price skyrocketed an impressive 6000%, and 12 hours later, much of those tokens were sold, generating a profit of USD 120,000.
🔍 The suspicious link
The investigation indicates that this anonymous wallet may have received funds from another linked to Logan Paul, specifically from his exclusive membership platform, the Maverick Club. Although the relationship has not been confirmed 100%, the traces suggest that Paul may have been responsible for this financial move.
But the story doesn't end there. In an unexpected turn, when the BBC sought to interview Paul in Puerto Rico, the influencer sent a double in his place. Shortly after, the journalists received a letter from his lawyers requesting that they not publish the results of the investigation.
📉 CryptoZoo: another controversial chapter
Logan Paul is already dealing with a previous scandal: the CryptoZoo case, a project that promised a game based on NFTs and cryptocurrencies. After raising large sums of money, the project never took off and was abandoned, leading to a class action lawsuit against Paul and his team.
In January 2024, Paul tried to calm the waters by announcing a refund program of 0.1 ETH for each eligible NFT, but with one condition: those affected had to waive any future legal action. This gesture was deemed "insufficient" by many, who consider it an attempt to evade responsibility.
🎙️ According to Tom Kherkher, lawyer for the victims:
“Paul's offer is a sneaky trick that does not adequately compensate those affected.”
🌐 Public figures and crypto: a minefield
This case underscores a recurring problem in the industry: the role of celebrities in promoting cryptocurrencies. Logan Paul is not the only one. Elon Musk, for example, faced a lawsuit for allegedly manipulating the price of dogecoin (DOGE) with his posts on X. Although the case was dismissed for lack of evidence, it highlights the impact that comments from influential figures can have on the markets.
💬 What do you think? Should influencers be held accountable for their actions in the crypto world?
