ZachXBT Faces Defamation Lawsuit From Alleged Scammer; Twitter Comes In Support
Key Takeaways:
The target of a previous investigation has hit on-chain sleuth ZachXBT with a lawsuit
Crypto Twitter rallied in support of the investigator.
NEW DELHI (CoinChapter.com) — In a surprising turn of events, the target of a previous investigation by crypto sleuth ZachXBT has filed a defamation lawsuit against the on-chain investigator.
In a Twitter thread, ZachXBT stated that Jeffrey Huang, aka MachiBigBrother, has filed a defamation lawsuit against him. Huang took issue with a June 2022 article by ZachXBT.
ZachXBT highlighted that MachiBigBrother’s considerable wealth gave Huang a significant advantage over the investigator. Furthermore, the on-chain sleuth claimed that Huang was “using his money” to silence the truth.
ZachXBT called for donations to aid him in the upcoming legal battle, which he estimated might cost more than $1 million. Additionally, the investigator set up a wallet for donations, promising to return leftover funds to contributors on a “pro-rata basis.”
It is sickening to see it come to this but I knew one day this would happen as the price of telling the truth is sometimes people dislike what you say. I have always kept my research as objective as possible and let the data and historical record speak for themselves.
ZachXBT stated
MachiBigBrother Claims ZachXBT Made False Allegations
MachiBigBrother claimed that ZachXBT’s allegations in June 2022 were false. The article in dispute alleged that Huang embezzled 22,000 ETH (worth nearly $37.8 million at the time) from a now-defunct crypto treasury management platform that he cofounded.
Moreover, ZachXBT alleged George Hsieh, co-founder of Formosa Financial, allegedly removed 11,000 ETH from the project’s treasury. The crypto sleuth noted that several addresses linked to Huang received funds from the treasury.
I reached out to Jeff prior to the release of this article as a general courtesy. He reinforces he was just compensated for his advisor role at Formosa, claims he did not know of the 4980 ETH payment to Bun or Harrison, and he maintains that Mithril never cheated in the Community Coin competition.
ZachXBT stated in his article
The on-chain sleuth supported his claims with irreproachable blockchain data. Surprisingly, MachiBigBrother still proclaims his innocence, claiming ZachXBT “unlawfully” defamed him.
Crypto Twitter Rallies Around ZachXBT
Meanwhile, the crypto community rallied around ZachXBT in reaction to Huang’s lawsuit. Several users saw Huang’s defamation lawsuit as a childish attempt to get back at ZachXBT for the article.
Crypto trader DonAlt stated Huang’s lawsuit revealed the fragility of his ego. Furthermore, the trader mused that the lawsuit would invite more eyes to year old article. DonAlt also contrasted ZachXBT’s reach on Twitter (417,000 followers) with Huang’s followers. (123,800 followers).
Mommy!!! (Judge) this Zack guy has written bad things about me on the internet, make him stop
DonAlt wrote on Twitter
Moreover, lawyers at Brown Rudnick offered to represent ZachXBT in the lawsuit. Help and support for the crypto investigator have been pouring in from everywhere. At the time of writing, the ZachXBT donation wallet has nearly $80,000.
ZachXBT or Huang had not responded to questions from CoinChapter at the time of writing.
The post ZachXBT Faces Defamation Lawsuit From Alleged Scammer; Twitter Comes In Support appeared first on CoinChapter.
Filed under: Bitcoin - @ June 19, 2023 6:17 pm