Today, renowned NFT trader and crypto personality Jeffrey Huang (aka Web3 alias Machi Big Brother) announced that he has filed a lawsuit against on-chain internet sleuth ZachXBT.Huang accused the latter of “publishing and maliciously promoting a falsely presented article [Huang] As criminals who embezzled millions of dollars in cryptocurrencies and manipulated the market,” and refused to delete the post and related tweets when asked. The article Huang refers to in the lawsuit is titled “22,000 ETH Misappropriated and More than a Dozen Projects Failed: The Story of Big Brother Machi (Jeff Huang), published exactly one year ago, on June 16, 2022. In it, ZachXBT Huang is a Taiwanese-American entrepreneur and former musician who resigned from a financial management platform in 2018 Formosa Financial misappropriated 22,000 ETH ($37 million) and has since been involved in several failed crypto and NFT projects.
ZachXBT and Machi Big Brother go public
a year ago, @zachxbt Published a Medium article about me, damaging my reputation.
Today, I have filed a defamation lawsuit against him in the U.S. District Court for the Western District of Texas. — Machi Big Brother (@machibigbrother) June 16, 2023
“I have always maintained that the allegations in his article are false,” Huang wrote on Twitter announcing the lawsuit to his followers. “I look forward to the lawsuit proving that @ZachXBT illegally defamed me.” ZachXBT is well-known in the NFT space for documenting the Web3 scam and the subsequent movement and flow of funds across various blockchains and wallets. He called attention to some of the biggest failed projects and scams in recent crypto art memory, including Pixelmon, Pixel Penguins, Friendsies, and more.
2/ This is a classic David and Goliath story. My understanding is that Machi is rich. I’m not. He’s trying to shut me up with his money. I am asking for your help so that this does not happen and the truth exists. — ZachXBT (@zachxbt) June 16, 2023
“Unfortunately, I had to post on this thread, but I was sued by MachiBigBrother for an article I published in June 2022,” ZachXBT wrote today, disclosing details of the lawsuit. “Today Machi filed a defamation suit. The suit is Unfounded, to suppress free speech. I intend to fight back and defend free speech.”
Donations pour in
Huang, a well-known professional NFT trader, has been one of the biggest drivers of the Blur market in recent months, and He is accused Wielding so much financial influence on the crypto art market that it can be manipulated. As such, ZachXBT is calling on his followers to help raise legal fees for the upcoming court action, which he believes Huang will try to win by playing the game of financial attrition.he encourage supporters Donated ETH to the address he provided, and within an hour, he received considerable financial help from the crypto community. One of the larger donations to the cause came from Memeland, the Web3 venture studio of internet meme pillar 9GAG. The project donated 6.9 ETH (~$12,000) to the cause. As of this writing, the wallet address provided by ZachXBT has accumulated close to $100,000 in donations.
Editor’s Note: This story is developing and has been updated.