Crypto Currency Tracker logo Crypto Currency Tracker logo
NewsBTC 2023-06-19 11:50:50

ZachXBT Legal Fight Turns Into Funding Success, Over $1 Million Raised

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. 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.” 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. — 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.” 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. 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. — 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. 💪 — CZ 🔶 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 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

면책 조항 읽기 : 본 웹 사이트, 하이퍼 링크 사이트, 관련 응용 프로그램, 포럼, 블로그, 소셜 미디어 계정 및 기타 플랫폼 (이하 "사이트")에 제공된 모든 콘텐츠는 제 3 자 출처에서 구입 한 일반적인 정보 용입니다. 우리는 정확성과 업데이트 성을 포함하여 우리의 콘텐츠와 관련하여 어떠한 종류의 보증도하지 않습니다. 우리가 제공하는 컨텐츠의 어떤 부분도 금융 조언, 법률 자문 또는 기타 용도에 대한 귀하의 특정 신뢰를위한 다른 형태의 조언을 구성하지 않습니다. 당사 콘텐츠의 사용 또는 의존은 전적으로 귀하의 책임과 재량에 달려 있습니다. 당신은 그들에게 의존하기 전에 우리 자신의 연구를 수행하고, 검토하고, 분석하고, 검증해야합니다. 거래는 큰 손실로 이어질 수있는 매우 위험한 활동이므로 결정을 내리기 전에 재무 고문에게 문의하십시오. 본 사이트의 어떠한 콘텐츠도 모집 또는 제공을 목적으로하지 않습니다.