AUSTIN, Texas (Legal Newsline) — A Texas man is claiming in a class action that CryptoZoo fraudulently sold digital currency.
Don Holland, individually and on behalf of all others similarly situated, filed a complaint in the U.S. District Court for the Western District of Texas against Cryptozoo Inc., Logan Paul and others alleging fraud, breach of contract and other claims.
Holland, a police officer in Round Rock, Texas, alleges in his complaint that he purchased digital currency from the defendants. He claims that through entertainer Logan Paul's online platform, the defendants promoted CryptoZoo's products to consumers unfamiliar with digital currency and manipulated the currency market for "Zoo Tokens" to their advantage.
Holland further claims the defendants ran a "scheme" by getting consumers to purchase the Zoo Tokens to be used for its online game CryptoZoo. However, the game allegedly never worked or existed and that defendants falsely claimed that by transferring the cryptocurrency, consumers would receive rewards such as exclusive access to other cryptocurrency assets.
Holland alleges the defendants then transferred millions of dollars of the purchasers' cryptocurrency to other places.
Holland and the class seek monetary relief, interest, trial by jury and all other just relief. They are represented by Jarret Ellzey, Leigh Montgomery and Alexander Kykta of Ellzey & Associates PLLC in Houston and Tom Kherkher of Attorney Tom & Associates in Houston.
U.S. District Court for the Western District of Texas Austin Division case number 1:23-CV-00110