Logan Paul is accused of misleading followers over his crypto investments by promoting coins without disclosing his own financial interests
Social media star Logan Paul is facing fresh allegations of misleading his fans over his cryptocurrency investments.
Social media star Logan Paul is facing fresh allegations of misleading his fans over his cryptocurrency investments.
According to the BBC, Paul promoted crytpo investments to his followers without disclosing his own financial interests in them, which would have caused prices in the investments to soar, and has raised suspicions that he could have profited from selling any of the tokens he held.
The broadcaster also claimed that after the YouTuber-turned boxer tweeted about crypto coin in 2021, an anonymous crypto wallet connected to his public wallet traded and went on to make a profit of $120,000.
Crytpo wallets store keys for cryptocurrency transactions and allow its owners to manage their funds.
Paul is currently facing a multi-million-dollar lawsuit over failed crypto project CryptoZoo amid accusations of fraud.
The influencer launched the project in 2021 only to be met with controversy a year later when YouTube channel Coffeezilla produced a three-part docuseries accusing Paul and his company of scamming users.
DailMail.com has approached Pauls team for comment.
The game was supposed to allow users to buy base egg NFTs that would watch and grow into animal NFTs, which could then be bread with other NFTs.
Social media star Logan Paul is facing fresh allegations of misleading his fans over his cryptocurrency investments. Paul is currently facing a multi-million-dollar lawsuit over failed crypto project CryptoZoo amid accusations of fraud
It comes as Paul watched his brother Jake, 27, easily see off Mike Tyson in fight in Arlington, Texas on Friday
In order to make $ZOO tokens, the games currency, users would need to hatch eggs.
Unfortunately the game did not work as intended, and later became the subject of the class-action lawsuit.
Paul, who has denied defrauding anyone, has pointed the finger at the games makers.
But despite his insistence that hes not at fault, he has offered a $2.3 million buyback program aimed at settling the issue.
Im going to take care of the people who made me look like this was a scam perpetrated by me, Paul said. I didnt make any f***ing money, bro. I lost half a million dollars on this.
It comes as Paul watched his brother Jake, 27, easily see off Mike Tyson in fight in Arlington, Texas on Friday - before being called out for a fight himself.
While being interviewed in the ring, when asked who he could take on next, boxing legend Tyson said: I dont know, maybe his brother...
Paul could be seen looking completely baffled before making his feelings on a potential fight with the fighting great clear.
Dutch speed skater Jutta Leerdam (L), Logan Paul, Pam Stepnick (Pauls mother) join US YouTuber/boxer Jake Paul (C) as he celebrates winning the heavyweight boxing bout against US retired pro-boxer Mike Tyson at The Pavilion at AT&T Stadium in Arlington, Texas
Jake Paul and Logan Paul enter during LIVE On Netflix: Jake Paul vs. Mike Tyson at AT&T Stadium on November 15
It seems Paul, who holds a 1-1 boxing record from influencer fights won against Dillon Danis and lost against KSI, has no interest in fighting the sporting icon he calls Uncle Mike.
He told Mail Sport: I f***ing love Uncle Mike hes just so... I mean, that was impressive, no? For a 58-year-old?
Hes tough, proud of him, weathered the storm against a young brute named Jake Paul. I think Jake let him live.
Asked whether he would take the fight against Tyson he simply said: No!
