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Crypto Sleuth ZachXBT Lawsuit, Society Raises $700K

Jeffrey Huang, known on Twitter as MachiBigBrother, sued on-chain investigator ZachXBT for defamation over an investigative article he wrote in 2022.

zachXBT advertiser on June 16 that the lawsuit was “baseless and an attempt to stifle freedom of expression”. The on-series detective said he plans to fight the lawsuit and seek the community’s help.

Crypto Community Pulls Together, Over $600K Raised

Since his call for donations, the wallet has been marked zachxbtlegalfund Received more than $690,000 in various cryptocurrencies from more than 500 donors.

ZachXBT legal fees (source: etherscan)

Most of the donations were in Ethereum and other stablecoins, but some donors sent memecoins, such as PEPE and others.

Meanwhile, Web3 Knowledge Graph Protocol 0xScope mentioned that the main donors includes Justin Sun of Tron, who donated NT$10,000; Jesse Powell of Kraken, $17,000; and Memeland, who donated $11,800. A donor also created the ZACH token and donated transaction taxes to the fund. Other notable donors include the blockchain security company, Certik.

Besides the donation, Boston-based law firm Brown Rudnick also offered to represent ZachXBT. Partner in the law firm of Stephen Paley, announce This is on Twitter. Brown Rudnik has experience in the industry and successfully represented Johnny Depp in his defamation lawsuit against Amber Heard.

The outpouring of support for ZachXBT has shown how much the crypto community appreciates his work. The on-chain investigator worked for free for years, exposing numerous cryptocurrency scams. His detailed investigations helped law enforcement agencies identify and prosecute several cryptocurrency scammers.

ZachXBT suit

Jeffrey Huang, better known as MachiBigBrother, sued ZachXBT over a Medium article published in June 2022. In the article, the on-chain investigator accused Huang of embezzling 22,000 ETH from Formosa Financial in 2018.

the condition He details how Huang ventured into crypto with several simple projects that ended up being pump-and-dump schemes, citing numerous on-chain data. ZachXBT stated that this culminated in the withdrawal of 22,000 ETH from the Treasury’s Formosa financial wallet in 2018.

Meanwhile, Huang chirp that the lawsuit was to prove the allegations false. He said he has consistently maintained that the allegations are false and that he will prove it through the courts.

I have consistently maintained that the allegations in his article are false. I look forward to proving through the lawsuit that ZachXBT has unlawfully defamed me.”

Disclaimer

Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

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