Famous blogger accused of massive manipulation of meme-cines

Popular blogger Logan Paul, who has more than 23 million subscribers on YouTube, is at the center of a scandal over alleged manipulation of cryptocurrencies. A new BBC investigation found that Paul promoted risky investments without disclosing that he had a financial interest in them.

In 2021, Paul reportedly actively promoted meme coins. One of these tokens, Elongate, rose in price by 6,000% after the blogger’s mention, but soon collapsed, causing losses to investors.

The investigation revealed that an anonymous crypto wallet associated with Paul had bought Elongate before his advertisement and earned $ 120,000. Similar schemes were found with other tokens that Paul publicly supported.

In addition, the blogger is accused of fraud with the NFT project CryptoZoo, in which 130 investors lost $ 4.2 million.

The project promised profits through a «game» that was supposed to use Zoo tokens and NFT «eggs». However, due to technical problems and flaws, the promised features did not work.

Logan Paul himself denies all accusations and claims that the fault lies with other members of his team. He even announced partial compensation to investors, but on the condition that they do not sue him.

Despite the scandals, Paul continues to be an influential figure among younger audiences. For many, however, his reputation has taken a serious hit.