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In the world of blockchain, renowned investigator ZachXBT recently found himself entrenched in a legal controversy. Having shed light on several dubious transactions in the past, ZachXBT is now facing a defamation lawsuit from a known figure in the crypto industry, Jeffrey Huang, alias MachiBigBrother.
This lawsuit was sparked by a series of allegations made by ZachXBT in an article published in June 2022. The article, titled "22,000 ETH Embezzled and Over Ten Projects Failed: The Story of Machi Big Brother (Jeff Huang)," led to ZachXBT accusing Huang of being the mastermind behind more than ten unsuccessful pump and dump schemes and NFT projects.
Huang took to Twitter on June 16 to announce that he was initiating legal proceedings against ZachXBT, charging him with slander and spreading unfounded claims that affected his reputation. However, the specifics of these claims were not revealed by Huang.
In response to the charges, ZachXBT set up a donation wallet on June 17, and it quickly received a flood of support from the cryptocurrency community. Contributions poured in to assist ZachXBT with his predicted legal expenses, which he anticipates could surpass the $1 million mark. Within just a day, donations exceeded that amount, demonstrating an enormous show of solidarity from the crypto world.
Among the high-profile contributors were some industry leaders, such as Changpeng "CZ" Zhao, the head honcho of Binance, a leading crypto exchange. Zhao lauded ZachXBT for his transparency efforts in the industry and pledged a donation of $50,000 towards his legal costs.
Similarly, Jesse Powell, the co-founder of Kraken, another esteemed crypto exchange, publicly appreciated ZachXBT's work and contributed 10 ETH, roughly equating to $17,300.
ZachXBT labeled the lawsuit as a groundless attack intended to suppress free speech and vowed to continue his investigative endeavors to maintain transparency in the industry.
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