Crypto Investigator ZachXBT Sued, Community Donates Over $600K in Hours

ZachXBT, one of the most prominent on-chain cryptocurrency investigators, announced that he is being sued over an article he published last year.

The researcher stated that he is not wealthy compared to his accuser and requires the community’s support for his legal defense. That support has been substantial so far.

• ZachXBT took to Twitter yesterday evening to announce that he was being sued by “MachiBigBrother” regarding an article published a year ago. The article identifies Jeff Huang (Machi), whom ZachXBT described as a “former Taiwanese-American musician and tech entrepreneur who embezzled 22,000 ETH from Formosa Financial in 2018.”
• The article provides an in-depth explanation of how Huang defrauded investors by launching “over ten failed pump and dump tokens and NFT projects.”
• Huang has filed a defamation lawsuit against ZachXBT, which the investigator described as “baseless and an attempt to chill free speech.”
• The researcher characterized the lawsuit as a “classic David & Goliath story” due to the significant wealth disparity between the two parties.
• He estimates that his legal defense could exceed $1 million, prompting him to create a cryptocurrency donation address to “assist with legal costs.”

• On-chain data indicates that the donation wallet received nearly $600,000 worth of cryptocurrency within 14 hours of the tweet being published (at the time of writing). The wallet holds $300,000 in ETH, $180,000 in USDC, $67,000 in USDT, and additional assets.
• Additionally, other members of the cryptocurrency community urged ZachXBT to create Bitcoin wallets for those who do not use EVM-compatible chains.

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