The crypto community stands firm behind the blockchain investigator ZachXBT.
In a remarkable show of support, blockchain investigator ZachXBT witnessed the collective power of the cryptocurrency community. In less than a day, the man attracted over a million dollars in donations to pay his legal defense fees.
ZachXBT, highly respected for his detailed investigative operations, found himself entangled in a legal altercation with Jeffrey Huang, a Twitter influencer known as MachiBigBrother.
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Huang has accused ZachXBT of tarnishing his reputation through unfounded accusations, leading to a defamation lawsuit, as confirmed through a June 16th tweet. The specific allegations weren't clarified.
Delving into the past, the signs of the friction can be traced back to June 2022, when ZachXBT wrote a scathing article titled "22,000 ETH Embezzled and Over Ten Projects Failed: The Story of Machi Big Brother (Jeff Huang)." In the report, the blockchain investigator alleged that Huang launched an assortment of over ten unsuccessful pump-and-dump "tokens and NFT projects."
Not backing down, ZachXBT challenged the lawsuit head-on. On June 17th, through a chain of tweets, he labeled the suit "baseless" and an "attempt to chill free speech."
Following the lawsuit, the blockchain investigator arranged a wallet address to amass donations from his followers to fund the anticipated legal fees, which, according to him, could "easily exceed $1 million."
In his tweets, he described the litigation as "sickening," but not surprising, asserting it's "the price" of honesty.
The price of telling the truth is sometimes people dislike what you say.
The crypto community showed its commitment to ZachXBT's work with donations pouring in from some of the industry's most renowned figures. Changpeng "CZ" Zhao, the head of leading crypto exchange Binance, extolled ZachXBT's endeavors to uphold transparency within the industry. His tweeted message was followed by a donation of $50,000.
Meanwhile, Jesse Powell, the co-founder of the Kraken crypto exchange, voiced gratitude for ZachXBT's contributions and pledged 10 Ether (ETH), worth about $17,000. Sandeep Nailwal, the brain behind Polygon, likewise expressed his support, donating 5 ETH, translating to roughly $8,600.
The response from the crypto community was swift and overwhelming. Less than a day after sharing his donation wallet address on Twitter, ZachXBT saw contributions that surpassed the million-dollar mark, demonstrating the strength and solidarity of this digital collective.
