{"id":538499,"date":"2023-06-19T11:50:50","date_gmt":"2023-06-19T11:50:50","guid":{"rendered":"https:\/\/wncen.com\/?p=538499"},"modified":"2023-06-21T07:21:39","modified_gmt":"2023-06-21T07:21:39","slug":"zachxbt-legal-fight-turns-into-funding-success-over-1-million-raised","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/zachxbt-legal-fight-turns-into-funding-success-over-1-million-raised\/","title":{"rendered":"ZachXBT Legal Fight Turns Into Funding Success, Over $1 Million Raised"},"content":{"rendered":"

ZachXBT, a highly respected blockchain sleuth, has sparked an outpouring of support from the cryptocurrency community after revealing a defamation lawsuit stemming from one of his previous investigations.\u00a0<\/span><\/p>\n

In a remarkable show of solidarity, donations exceeding $1 million have flooded in from crypto enthusiasts across the globe, rallying to fund his legal defense. <\/span><\/p>\n

Taking to Twitter, ZachXBT shared a digital wallet address on Friday, accompanied by commentary detailing the lawsuit filed by Jeffrey Huang, known online as “Machi Big Brother.”<\/span><\/p>\n

Related Reading: Polygon (MATIC) Sees Surge In Whale Buying Despite US Regulatory Pressure<\/a><\/div>\n

Huang’s claim<\/span><\/a> centers on an article published by ZachXBT a year ago, wherein he accuses Huang of embezzling millions of dollars’ worth of Ethereum from Formosa Financial, a defunct crypto treasury management platform co-founded by Huang.<\/span><\/p>\n

\n

A year ago, @zachxbt<\/a> published a Medium article about me that damaged my reputation.
\nToday, I have filed a defamation lawsuit against him in the United States District Court for the Western District of Texas.<\/p>\n

\u2014 Machi Big Brother (@machibigbrother) June 16, 2023<\/a><\/p><\/blockquote>\n

Crypto Community Rallies For ZachXBT<\/strong><\/h2>\n

ZachXBT has expressed that his legal defense could potentially exceed the staggering sum of $1 million. Notably, the digital assets amassed in the wallet shared by ZachXBT have already surpassed this target, consisting mostly of stablecoins, as revealed by <\/span>Nansen Portfolio<\/span><\/a>.<\/span><\/p>\n

Highlighting the financial dynamics at play, ZachXBT remarked:<\/span><\/p>\n

\n

“My understanding is that Machi is very wealthy. I am not. He is using his money to try to silence me.”\u00a0<\/strong><\/h4>\n<\/blockquote>\n

In a remarkable show of support, numerous crypto executives have stepped up to contribute to ZachXBT’s cause, commending his invaluable contributions to the crypto and Web3 industries.\u00a0<\/span><\/p>\n

Jesse Powell, the co-founder of Kraken, extended his gratitude, acknowledging ZachXBT’s impactful work and pledging a <\/span>donation of 10 Ether (ETH)<\/span><\/a>, equivalent to approximately $17,000.<\/span><\/p>\n

\n

In for 10 ETH. Thanks for all that you do. Good luck.<\/p>\n

\u2014 Jesse Powell (@jespow) June 18, 2023<\/a><\/p><\/blockquote>\n

Similarly, Changpeng “CZ” Zhao, the CEO of Binance, lauded ZachXBT in a tweet, urging him to continue fostering transparency within the industry, while pledging a generous <\/span>$50,000 contribution from Binance<\/span><\/a> towards his legal fees.<\/span><\/p>\n

\n

#Binance<\/a> will contribute $50k. Keep up the fight. Keep the industry transparent. \ud83d\udcaa<\/p>\n

\u2014 CZ \ud83d\udd36 Binance (@cz_binance) June 17, 2023<\/a><\/p><\/blockquote>\n

Meanwhile, Sandeep Nailwal, the founder of Polygon, joined the ranks of supporters by pledging a <\/span>donation of 5 ETH<\/span><\/a>, valued at approximately $8,600 at the time of writing.<\/span><\/p>\n

ZachXBT’s Commitment To Transparency<\/strong><\/h2>\n

Throughout the years, ZachXBT has maintained a vigilant and critical approach when examining diverse crypto projects and on-chain occurrences. His unwavering dedication has involved unmasking fraudulent entities, cautioning against possible scams, and fearlessly delving into hacks to elucidate the underlying causes of exploits, all of which he fearlessly shares with his Twitter followers.<\/span><\/p>\n

Bitcoin reclaims the $26K level on the daily chart: TradingView.com<\/a><\/pre>\n
Related Reading:  Floki Inu Dull, Motionless Following Binance Metaverse Integration \u2013 Here\u2019s Why<\/a><\/div>\n
In a demonstration of his integrity and commitment to transparency, ZachXBT made a commitment on Friday. He pledged that any remaining funds donated to support his legal defense would be <\/span>promptly returned<\/span><\/a> to the contributors in a pro-rata fashion. <\/span><\/p>\n
This approach ensures that individuals will receive back their respective portion of the funds based on the proportion they initially contributed compared to the total sum.<\/span><\/p>\n
Featured image from Yahoo\/The Defiant<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
ZachXBT, a highly respected blockchain sleuth, has sparked an outpouring of support from the cryptocurrency community after revealing a defamation lawsuit stemming from one of his previous investigations.\u00a0 In a remarkable show of solidarity, donations exceeding $1 million have flooded in from crypto enthusiasts across the globe, rallying to fund his legal defense. Taking to Twitter, ZachXBT shared a digital wallet address on Friday, accompanied by commentary detailing the lawsuit filed by Jeffrey Huang, known online as “Machi Big Brother.” Related Reading: Polygon (MATIC) Sees Surge In Whale Buying Despite US Regulatory Pressure Huang’s claim centers on an article published by ZachXBT a year ago, wherein he accuses Huang of embezzling millions of dollars’ worth of Ethereum from Formosa Financial, a defunct crypto treasury management platform co-founded by Huang. A year ago, @zachxbt published a Medium article about me that damaged my reputation. Today, I have filed a defamation lawsuit against him in the United States District Court for the Western District of Texas. \u2014 Machi Big Brother (@machibigbrother) June 16, 2023 Crypto Community Rallies For ZachXBT ZachXBT has expressed that his legal defense could potentially exceed the staggering sum of $1 million. Notably, the digital assets amassed in the wallet shared by ZachXBT have already surpassed this target, consisting mostly of stablecoins, as revealed by Nansen Portfolio. Highlighting the financial dynamics at play, ZachXBT remarked: “My understanding is that Machi is very wealthy. I am not. He is using his money to try to silence me.”\u00a0 In a remarkable show of support, numerous crypto executives have stepped up to contribute to ZachXBT’s cause, commending his invaluable contributions to the crypto and Web3 industries.\u00a0 Jesse Powell, the co-founder of Kraken, extended his gratitude, acknowledging ZachXBT’s impactful work and pledging a donation of 10 Ether (ETH), equivalent to approximately $17,000. In for 10 ETH. Thanks for all that you do. Good luck. \u2014 Jesse Powell (@jespow) June 18, 2023 Similarly, Changpeng “CZ” Zhao, the CEO of Binance, lauded ZachXBT in a tweet, urging him to continue fostering transparency within the industry, while pledging a generous $50,000 contribution from Binance towards his legal fees. #Binance will contribute $50k. Keep up the fight. Keep the industry transparent. \ud83d\udcaa \u2014 CZ \ud83d\udd36 Binance (@cz_binance) June 17, 2023 Meanwhile, Sandeep Nailwal, the founder of Polygon, joined the ranks of supporters by pledging a donation of 5 ETH, valued at approximately $8,600 at the time of writing. ZachXBT’s Commitment To Transparency Throughout the years, ZachXBT has maintained a vigilant and critical approach when examining diverse crypto projects and on-chain occurrences. His unwavering dedication has involved unmasking fraudulent entities, cautioning against possible scams, and fearlessly delving into hacks to elucidate the underlying causes of exploits, all of which he fearlessly shares with his Twitter followers. Bitcoin reclaims the $26K level on the daily chart: TradingView.com Related Reading: Floki Inu Dull, Motionless Following Binance Metaverse Integration \u2013 Here\u2019s Why In a demonstration of his integrity and commitment to transparency, ZachXBT made a commitment on Friday. He pledged that any remaining funds donated to support his legal defense would be promptly returned to the contributors in a pro-rata fashion. This approach ensures that individuals will receive back their respective portion of the funds based on the proportion they initially contributed compared to the total sum. Featured image from Yahoo\/The Defiant<\/p>\n","protected":false},"author":557,"featured_media":538502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,14186,8686,88445,88446,87737],"class_list":["post-538499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-crypto-scam","tag-ethusd","tag-jeffrey-huang","tag-machi-big-brother","tag-zachxbt"],"acf":[],"yoast_head":"\nZachXBT Legal Fight Turns Into Funding Success<\/title>\n<meta name=\"description\" content=\"ZachXBT, a highly respected blockchain sleuth, has sparked an outpouring of support from the cryptocurrency community after revealing a defamation lawsuit\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"ZachXBT Legal Fight Turns Into Funding Success, Over $1 Million Raised","url":"http:\/\/wncen.com\/news\/zachxbt-legal-fight-turns-into-funding-success-over-1-million-raised\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/zachxbt-legal-fight-turns-into-funding-success-over-1-million-raised\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/a-111.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/a-111.png?fit=666%2C373"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","crypto scam","ethusd","jeffrey huang","machi big brother","zachxbt"],"dateCreated":"2023-06-19T11:50:50Z","datePublished":"2023-06-19T11:50:50Z","dateModified":"2023-06-21T07:21:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"ZachXBT Legal Fight Turns Into Funding Success, Over $1 Million Raised\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/zachxbt-legal-fight-turns-into-funding-success-over-1-million-raised\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/zachxbt-legal-fight-turns-into-funding-success-over-1-million-raised\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-111.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-111.png?fit=666%2C373\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"crypto scam\",\"ethusd\",\"jeffrey huang\",\"machi big brother\",\"zachxbt\"],\"dateCreated\":\"2023-06-19T11:50:50Z\",\"datePublished\":\"2023-06-19T11:50:50Z\",\"dateModified\":\"2023-06-21T07:21:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/a-111.png?fit=666%2C373","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/538499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=538499"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/538499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/538502"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=538499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=538499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=538499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}