ZachXBT Gets Sued, Community Donates Over $600K in Hours

One of the most well-known on-chain crypto investigators, who goes by the Twitter account ZachXBT, said he has been sued over an article he published last year.

Unlike the person he is suing, the researcher said, he needs community support to defend him. This support has been impressive so far.

• ZachXBT took to Twitter yesterday evening to report that it was being sued by “MachiBigBrother” for condition Posted a year ago. The story itself is named after Jeff Huang (Machi), described by ZachXBT as “a former Taiwanese-American musician and tech entrepreneur who embezzled 22,000 ETH from Formosa Financial in 2018.”
• He delves into explaining how Huang managed to defraud investors by releasing “more than a dozen failed pump and dump tokens and NFT projects.”
• Huang has now filed a defamation lawsuit against ZachXBT, which the latter calls “unfounded and an attempt to stifle freedom of speech.”
• The researcher defined the lawsuit as the “classic David and Goliath story” because of the supposed wealth difference between the two parties.
• He believes his defense could exceed $1 million, which is why he created a crypto donation address to “help with legal costs.”

3/ I am creating a donation address to help with the legal costs associated with defending this matter, which could easily exceed $1 million USD.

All remaining funds will be returned on a pro-rata basis to the shareholders.

– ZachXBT (@zachxbt) June 16, 2023

• The on-chain data indicates that the wallet itself has it Receive Almost $600,000 worth of crypto in the 14 hours after the tweet was posted (as of this writing). She has $300,000 in ETH, $180,000 in USDC, $67,000 in USDT, and more.
• In addition, other members of the crypto community urged ZachXBT to create BTC wallets for those who do not use EVM chains.