The crypto community, known for its strong sense of solidarity and dedication to transparency, has united in support of the renowned on-chain analytics expert investigator ZachXBT. In response to a defamation lawsuit filed against him by Machi Big Brother, an incident that sent shockwaves through the industry, supporters have come together to raise an impressive $1 million war chest.
At the heart of this legal battle lies a groundbreaking article published by ZachXBT back in June 2022. The piece shed light on alleged fraudulent activities involving Machi Big Brother (whose real name is Jeff Huang), once associated with Formosa Financial as it was discovered that he had embezzled 22,000 ETH.
Furthermore, ZachXBT’s investigation revealed astonishing details about Huang’s subsequent endeavors—launching more than ten pump-and-dump cryptocurrency projects—which ultimately met their demise.
Given such grave accusations brought forward by ZachXBT’s meticulous research into these matters concerning financial misconduct by Mr. Huang himself; it comes as no surprise that his exposé triggered significant repercussions resulting in this high-stakes lawsuit launched against him.
Jeff, a Taiwanese-American musician and tech entrepreneur, ventured into the world of cryptocurrency in 2017. Allegedly, according to ZachXBT, he engaged in various illicit activities across multiple projects, resulting in embezzlement of significant amounts of money.
ZachXBT brought the lawsuit to public attention, drawing the support of numerous crypto personalities and brands such as Binance, Polygon, co-founder Scalar Capital, Quantstamp, and more. Overall, the on-chain investigator has successfully raised over $1 million to aid in Jeff’s legal defense.
In a captivating turn of events that captivated Crypto Twitter, Machi Big Brother took to Twitter just one day after publicly announcing his intention to file a lawsuit. In a surprising twist, he expressed that all he sought from ZachXBT—the subject of his legal action—was a sincere apology.
Furthermore, Machi Big Brother pledged that any monetary compensation awarded as part of the resolution would be graciously donated to charitable causes.
However, despite these seemingly conciliatory statements by Machi Big Brother himself, the response generated in online communities has been predominantly negative. Critics have questioned both the motives behind such a sudden move amidst ongoing litigation and whether it is merely an attempt at damage control or shaping public perception. Some have even gone as far as calling him an outright scammer.
The lawsuit itself was officially filed at the United States District Court for the Western District of Texas. Defending against these allegations brought forth by Machi Big Brother’s legal team is Brown Rudnik LLP—an esteemed law firm renowned for their expertise and extensive experience navigating complex litigations across various industries.