MachiBigBrother sued ZachXBT over an investigation it published in June 2022, alleging that the trader stole tens of millions of dollars worth of cryptocurrencies. Here are the details…
ZachXBT accused of ‘smearing’
NFT trader MachiBigBrother, also known as Jeffrey Huang, has sued ZachXBT, an independent blockchain detective, after the on-chain sleuth published a report alleging that Huang embezzled tens of millions of dollars in crypto last year. The lawsuit, filed Friday in the US District Court for the Western District of Texas, alleges that ZachXBT defamed MachiBigBrother and “inflicted serious reputational and material damage.”
In the complaint, MachiBigBrother’s attorney stated, “[ZachXBT] “Notwithstanding the devastating impact that public allegations of criminal conduct can have on the accused, he not only continued to post his defamatory article on Medium.com, but maliciously publicized the article to his more than 300,000 Twitter followers.”
Where did this cryptocurrency thing come from?
The lawsuit references an investigation ZachXBT posted on its blog and Twitter in June 2022, alleging that MachiBigBrother manipulated the crypto markets and embezzled 22,000 Ether, worth approximately $38 million at the time of writing. ZachXBT responded to the lawsuit on Twitter on Friday, calling it a “classic David [ve] He described it as “the story of Goliath. ZachXBT, “I understand Machi[BigBrother] very rich,” he tweeted. “Not me. He’s using his money to try to silence me,” he added.
In the same Twitter thread, the crypto detective complained that fighting the case could cost more than $1 million. He asked his followers to donate crypto to a wallet reserved for his legal expenses. “I ask for your help so that this does not happen and truth survives,” he said. The wallet has raised nearly $500,000 worth of crypto donations.
Who is ZachXBT?
The petition requests the court to order ZachXBT to pay “actual and compensatory damages” as well as “exemplary damages” in an amount to be determined by the court. He also demands reimbursement of Jeffrey Huang’s legal fees accumulated during the upcoming legal battle. ZachXBT rose to prominence in the crypto community after publishing their original Blockchain data analysis that allegedly exposed the evils of bad actors populating the decentralized finance and Web3 spaces. His research has helped him follow over 400,000 Twitter users and has him on Consensus Magazine’s 2022 Most Influential list.
ZachXBT, who describes himself as an “on-chain sleuth,” frequently publishes the results of his research in Twitter threads and Medium blog posts. His detective work led to real-world arrests and received so much attention on social media that he had to stop accepting community requests to investigate malicious activity in the crypto space last March.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.