Logan Paul’s Multimillion-Dollar Pokémon Card Haul Was a Scam

In a new video, YouTube star Logan Paul confirmed that his recent $3.5 million purchase of a sealed case of six Pokémon first edition boxes was, indeed, a scam and that the “authenticated” case did not have Pokémon packs inside of it.

The initial purchase, which Paul announced in December of last year, sent shockwaves throughout the Pokémon collector community as websites like Poké Beach quickly began to question whether the sealed case was legitimate. Even Paul began to question the purchase, leading him to travel to Chicago to meet with representatives of Baseball Card Exchange (BBCE), the company that authenticated the case. This was before famed high-end card collector, Matt Allen, purchased the case for a little under $3 million, who then flipped it to Paul for $3.5 million. Allen flew out to attend the meeting, as well, which was held in Paul’s hotel room.

The BBCE representatives examined the case again, explaining the reasoning that the company’s employees had used for believing it to be authentic, by noting that there was no evidence that the case, which would be more than 20 years old, had been tampered with by anyone. The cases purportedly contained six sealed boxes of first edition Pokémon cards, with each box containing 36 packs and each pack containing 11 cards. The odds of finding a “holographic” card was roughly one in every three packs, so each box should contain 12 holographic cards; it is these holographic cards that go for hundreds of thousands of dollars. Therefore, the pure value of the case would be based on how many holographic cards were discovered. More specifically, which holographic cards, as some are more popular than others. If it was real, $3.5 million could easily be on the low end of its total value.

However, as soon as Paul and the others opened up the case, they quickly realized that this was, in fact, a scam. Paul had previously purchased five authentic sealed first edition boxes outside of a case and when comparing his legit boxes to the ones in the case, it was obvious that something was quite wrong.

When Allen opened up one of the boxes, it turned out to be filled with 1991 G.I. Joe trading card packs and not Pokémon packs at all.

While distraught, Allen tried to keep the whole thing in perspective. “I’m a super positive person, and I’ll always be the one to look at the bright side. I’m trying, but this is hard. It’s bad for the Pokémon community, but I’m grateful for the products that I do have. I just went from 11 boxes to five.”

Early in the video, Paul seemed to suggest that Allen would likely give him a refund if it turned out to be fake, but it remains to be seen whether that occurred or not, and what recourses Allen would have against either BBCE or the seller Allen purchased it from.

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Source: YouTube