Twitter user Zachxbt, who describes themselves as an “on-chain sleuth,” accused Logan Paul of participating in multiple crypto ‘pump and dump’ schemes at the expense of his followers.
Logan Paul’s enthusiasm for cryptocurrencies and NFTs extends beyond investing in them. He’s also launched his own projects, 99 Originals NFT and CryptoZoo, and often speaks about his passion for the scene.
However, according to Zachxbt, a “sleuth” who investigates the connections between influencers and crypto and NFT scams, Logan has allegedly participated in some questionable crypto pump and dump schemes.
1/ A thread on @LoganPaul and his sketchy track record in the Web 3 space thus far. pic.twitter.com/wNmyw5TyFb
— ZachXBT (@zachxbt) May 13, 2022
After looking at the transaction records across Logan’s main public address to his offshoot ones, Zachxbt claims they’ve found evidence of his alleged involvement in three separate crypto pump and dump schemes.
First, they claimed Logan hyped up the ELON cryptocurrency in a ‘leaked’ video on May 10, 2021, only to sell it a week later on May 17, 2021, making $112,000 in profit. They called it a “blatant” pump and dump ploy.
5/ Case 1: On 5/10/21 a video got leaked from the Maverick Private Page (behind the scenes content for Logan) hyping up ELON.
He finishes selling on 5/17 and in total $112k from this blatant pump and dump. https://t.co/zkJGXZ4eeW pic.twitter.com/UOn9XwDfI4
— ZachXBT (@zachxbt) May 13, 2022
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Then, they accused Logan of doing the same thing again by promoting a different cryptocurrency via a tweet on May 17, 2021, moments after buying it. Paul then sold it all 12 hours later, making $116,000 in total.
Finally, they claimed Logan received free tokens from EMAX, a company currently being sued for scamming people, and sold them for $71,800, bringing his total profits from these alleged schemes to around $300,000.
7/ Case 3: Floyd & Logan had a fight back in June 2021 that was heavily sponsored by EMAX
Logan received tokens for free from the project that he then sold for $71.8k
Currently EMAX is being sued for being a scam. Am not sure how EMAX even passed the vetting process to sponsor pic.twitter.com/0KAo7n6vLh
— ZachXBT (@zachxbt) May 13, 2022
Zachxbt also pointed out it’s not the first time Logan has been accused of such things.
“I’m sure Logan will claim to be not at fault,” they said, “but at what point do you actually take some sort of accountability for your actions?”
Logan isn’t the only influencer who Zachxbt has called out. In March 2022, they also created a thread about David Dobrik’s alleged involvement in promoting a “$6 million NFT scam” and shared their findings.
