Tom Kherkher, a popular YouTuber and the founder of the law firm Attorney Tom and Associates, has criticized Logan Paul’s recent announcement regarding the buyback of CryptoZoo NFTs, calling it a “misleading move.”
In a post on Jan. 4, Logan Paul revealed his plan to personally invest over $2.3 million to repurchase non-fungible tokens (NFTs) from CryptoZoo, a crypto game centered around NFTs that failed to meet expectations and received a mixed response upon its release.
Paul stated that claims for the buyback can be submitted through a designated website until Feb. 8. However, early supporters may not receive full compensation, as the website indicates that claimants may receive up to 0.1 ETH per eligible NFT submitted.
Furthermore, Paul made it clear that the buyback is not meant to reimburse those who took risks in the crypto market and suffered losses, suggesting that buyers of the in-game currency ZOO tokens may not receive any compensation. Claimants are also required to waive any potential legal claims against Paul in relation to CryptoZoo.
Tom Kherkher expressed his disapproval of Paul’s buyback initiative in a post, labeling it as a “deceptive tactic.” Alan Wehbi, who claims to be the largest ZOO token holder and goes by the Twitter handle @doitbigchicago, expressed dissatisfaction after discovering that Paul had blocked him on the platform.
Wehbi did not disclose the amount he had invested in ZOO tokens. This is not the first time Paul has pledged to compensate individuals who suffered losses in the crypto game, which he attributed to malicious actors. In early 2023, Paul introduced a $1.3 million recovery plan for disappointed players of CryptoZoo. However, it remains unclear if any compensations have been distributed since his initial announcement last year.