ZachXBT’s campaign to gather funds has resulted in an impressive $1 million in contributions, following a legal challenge from Machi Big Brother.
In Brief
Jeffrey Huang, popularly known in the crypto space as Machi Big Brother, has initiated a defamation lawsuit against the blockchain investigator ZachXBT.
In light of his legal situation, ZachXBT reached out to his supporters for donations to cover his legal expenses.
In a remarkable show of support, ZachXBT managed to collect more than $1 million in just 48 hours, with notable backing from Changpeng Zhao, the CEO of Binance, and Justin Sun, the founder of Tron.
On June 16, ZachXBT posted a message on Twitter detailing the defamation case he is facing.
Machi Big Brother, a tech entrepreneur and musician of Taiwanese-American descent, has taken legal action against ZachXBT based on an article published in June 2022. This article discusses his alleged misappropriation of 22,000 Ethereum, approximately valued at $38 million, sourced from his crypto management firm, Formosa Financial. article On June 15, Machi Big Brother filed a lawsuit in the U.S. District Court for the Western District of Texas, claiming that ZachXBT's accusations were unfounded and that the resulting article harmed his public image.
ZachXBT, in a tweet posted on June 16, shared his digital wallet address to seek assistance from the community, indicating he lacked sufficient funds for legal fees.
In the same Twitter thread Describing his predicament as a modern-day David and Goliath tale, ZachXBT emphasized that while Machi is significantly wealthy, he is not. He called upon his followers for aid to ensure that the truth prevails, announcing a donation address for his legal defense, which could exceed $1 million.
Numerous supporters rallied behind ZachXBT, contributing financial donations. Significant support came from industry leaders such as Changpeng Zhao from Binance and Justin Sun from Tron. Within just two days, ZachXBT's community raised a diverse portfolio of tokens worth over $1 million, including stablecoins, Ethereum, and various meme coins like Pepe Coin.
Now that ZachXBT's identity has been uncovered, he has enlisted the legal services of Stephen Palley and Jess Meyers from Brown Rudnick to defend his case. Notably, Meyers was part of the legal team that represented Johnny Depp in his high-profile defamation trial against Amber Heard.
Blockchain investigator ZachXBT has also penalized a group of NFT thieves from France who were implicated in embezzling upwards of $2.5 million.
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Disclaimer
In line with the Trust Project guidelines Valeria serves as a reporter for Metaverse Post, concentrating on fundraising events, AI advancements, metaverse innovations, digital fashion, NFTs, and everything related to Web3.
