Business News Report SMW
June 19, 2023

Blockchain Sleuth ZachXBT Receives $1M in Donations Following Machi Big Brother’s Lawsuit

In Brief

Jeffrey Huang, more known as Machi Big Brother, filed a defamation lawsuit against crypto investigator ZachXBT.

The sleuth asked his community to donate funds to help him cover the lawyer’s cost.

In just two days, ZachXBT received over $1 million. The investigator was supported by Binance’s CEO Changpeng Zhao and Tron founder Justin Sun.

Blockchain Sleuth ZachXBT Receives $1M in Donations Following Machi Big Brother’s Lawsuit

On June 16, pseudonymous crypto sleuth ZachXBT published a Twitter post containing information about a defamation lawsuit filed against him. 

Jeffrey Huang, a Tawainese-American tech entrepreneur and musician known as Machi Big Brother, sued ZachXBT over an article that went live in June 2022. The article describes his research on Huang’s defalcation of 22,000 Ethereum, worth approximately $38 million—the funds derived from the entrepreneur’s crypto treasury management platform Formosa Financial. 

On June 15, Machi Big Brother filed a lawsuit in the U.S. District Court for the Western District of Texas, claiming ZachXBT’s allegations were false and the research damaged his reputation. 

In the same Twitter thread published on June 16, the blockchain investigator shares his digital wallet address asking the community to support him. In the tweet, ZachXBT states that he does not have the necessary funds to cover lawyer fees.

“This is a classic David & Goliath story. My understanding is that Machi is very wealthy. I am not. He is using his money to try to silence me. I’m asking for your help so this doesn’t happen & the truth survives,” writes ZachXBT in a tweet, “I am creating a donation address to assist with legal costs associated with the defense of this matter, which could easily exceed $1m.”

Numerous followers supported ZachXBT by donating funds. Notably, the sleuth even got support from Binance’s CEO Changpeng Zhao and Tron founder Justin Sun. Overall, in just two days, the investigator received various tokens worth more than $1 million from the community. His portfolio now features stablecoins, Ethereum, as well as Pepe Coin and other meme tokens. 

ZachXBT, whose identity is now known, hired Brown Rudnick’s lawyers, Stephen Palley and Jess Meyers, to represent him in the mission. Notably, Meyers made part of Johhny Depp’s litigation team in a defamation suit against Amber Heard. 

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In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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