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Known for his track record of exposing fraudulent actors in the crypto world, ZachXBT, the esteemed on-chain detective, finds himself in the middle of a lawsuit. He has made a public call to the crypto community for support.
Best On-chain Detective
ZachXBT has been publishing public articles, assisting victims, and his analyses even entered court files, making him the best on-chain detective we know of. His primary focus has been on those ill-intentioned actors who targeted the funds of crypto investors, making his work a true service to the crypto community.
Today, he finds himself rewarded (!) by a financially powerful individual he has accused in the past.
ZachXBT is Being Sued
Winning a lawsuit anywhere in the world often requires more than being right – a good lawyer, or an army of them, is crucial. In the United States, this becomes even more complex, even ruthless. For instance, the litigation costs could exceed your potential compensation, making you unable to defend your patent rights. Financially weak victims often cannot claim their rights, especially against million or billion-dollar entities.
ZachXBT has been sued by an individual who knows the workings of the system. Or at least, that’s his claim. Today, he announced that he started a fundraising campaign, stating he cannot cover the potential litigation costs which could reach up to $1 million.
The plaintiff is Jeffrey Huang, also known as “Machi Big Brother”. The lawsuit alleges that ZachXBT made defamatory statements in a 2022 post claiming that Huang embezzled 22,000 ETH from his crypto management firm, Formosa Financial.
The lawsuit argues that the article lacks evidence and “categorically denies the allegations related to the alleged criminal behavior of the plaintiff.” It is further claimed that ZachXBT tried to personally profit by drawing clicks from the article, encouraging retweets, and pulling additional ‘donations’ “at the expense of the plaintiff’s reputation.”
ZachXBT stated, “The lawsuit is baseless and an attempt to stifle freedom of speech. I intend to respond and defend freedom of speech. I have set up a donation address to help with legal costs that could easily exceed $1 million for the defense of this matter. As far as I understand, Machi is very rich. I’m not. He is using his money to silence me. I ask for your help to prevent this and keep the truth alive.”
He published his wallet address on Twitter and has collected $83,900 so far, according to Etherscan.
