Jeffrey Huang, aka MachiBigBrother on Twitter, is suing a well-known on-chain analyst.
ZachXBT for defamation in connection with articles on Medium, published in June 2022. ZachXBT stated that the lawsuit is “baseless and an attempt to stifle free speech” and called on the community to help him.
The ZachXBT article details how Huang promoted somewhat dubious projects that ended up being just pump scams. The analyst reported that this culminated in the withdrawal of 22,000 ETH from the Formosa Financial treasury wallet in 2018.
MachiBigBrother, in turn, wrote that the accusations were falseand is going to prove it in court.
Crypto enthusiasts supported ZachXBT
ZachXBT created a donation wallet and asked subscribers to help with legal costs that “could easily exceed $1M”. To the address indicated as Zachxbtlegalfundreceived more than $700,000 in various cryptocurrencies.
Not only ordinary members of the crypto community, but also key industry players came to the aid of the analyst. Binance CEO Changpeng Zhao supported ZachXBT and promised to translate $50,000, Kraken Kraken founder Jesse Powell thanked him for his work and donated 10 ETH. Polygon co-founder Sandeep Nailwal sent to his address 5 ETH. Law firm Brown Rudnick offered to represent the analyst in court, partner Steven Pally announced on Twitter.
The support provided by ZachXBT showed how highly the crypto community appreciates his work. The analyst has worked pro bono for many years and exposed numerous cases of fraud – his investigations helped law enforcementidentify and prosecute several crypto-criminals.
Source: Cryptocurrency
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