Who are Eduardo Ibanez and Jake Greenbaum? Logan Paul's cross-claim lawsuit alleges they are to blame for CryptoZoo debacle

With the announcement of the CryptoZoo buyback program, Logan Paul has also released court documents that allege two other founders of the project, Eduardo Ibanez and Jake Greenbaum, to be the "bad actors" responsible for the cryptocurrency and NFT debacle that has generated so much controversy over the last few years.

For those unaware, viewers and victims who lost a lot of their money investing in CryptoZoo have been accusing Logan Paul and the founders of the NFT project of essentially defrauding them. Today, the WWE star came out with a buy-back program aimed at letting some of those affected by the debacle get money in the form of cryptocurrency by exchanging their tokens.

With that, Paul has also released a Google Doc of the lawsuit he has filed in court against two of the other co-founders of CryptoZoo — Eduardo Ibanez and Jake Greenbaum. The two are accused of being the ones who defrauded Logan and others. Read more to find out who they are.

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A brief overview of Jake Greenbaum and Eduardo Ibanez as Logan Paul accuses them of exploiting CryptoZoo for personal gain

Jake Greenbaum is an internet personality who has styled himself as Crypto King and an expert on everything related to cryptocurrency. Coffeezilla, in his expose on the project, dedicated a significant chunk of time to talking about him, as he was one of the founders associated with the whole NFT scheme, which allegedly sold many tokens to make a profit.

Eduardo Ibanez is a more dubious figure, and even the lawsuit describes him, along with Greenbaum, as a con artist. Ibanez was supposedly the lead developer of the project, and the document claims that both of them intentionally sabotaged the project. Readers should note that Coffeezilla had accused Eduardo Ibanez of lying about his past credentials, and the court document seems to do the same.

A relevant part of the Google Doc reads:

"Mr. Greenbaum and Mr. Ibanez were con artists. Unbeknownst to Mr. Paul, both men lied about their resumes, knowledge, experience, and intentions. Through fraud and deceit, Mr. Greenbaum and Mr. Ibanez sabotaged the CryptoZoo project and prevented it from ever realizing Mr. Paul’s vision."

The document also accuses both Eduardo Ibanez and Jake Greenbaum, aka Crypto King, of defrauding Logan Paul, thus shifting the blame from the YouTuber-turned-wrestler toward the other two. In the introduction to the cross-claim, the intention of the suit is described as follows:

"This action seeks redress from Mr. Greenbaum and Mr. Ibanez for defrauding Mr. Paul and exploiting CryptoZoo for their own financial gain."

On top of alluding to suspicious trading activities attributed to Jake Greenbaum following the launch of the liquidity pool for CryptoZoo, the lawsuit also claims that Eduardo Ibanez is a fraud. It calls into question the latter's claims of having attended MIT and worked with Super Bowl teams by citing a news report that claims Ibanez lied about both those things.

In essence, Logan Paul's cross-claim hinges on his claim that the two "bad actors," as he calls them in his post on X, were the reason CryptoZoo failed, essentially recusing himself as the reason why so many people lost so much money. The lawsuit also says that Logan Paul has not made any money from the NFT project and that he has lost about $400,000 due to bad management and botched development of the crypto game.