Crypto community members have rallied together to support blockchain investigator ZachXBT, who is facing a defamation lawsuit that could potentially cost him over $1 million in legal fees.
In just over 24 hours, donations from the crypto community have surpassed the $1 million mark, highlighting the solidarity within the industry.
ZachXBT is well-known for his investigative work in the blockchain and cryptocurrency space. However, he recently found himself entangled in a legal dispute with Jeffrey Huang, also known as MachiBigBrother on Twitter.
On June 16, Huang took to Twitter to announce that he had filed a defamation lawsuit against ZachXBT, alleging that he had tarnished his reputation with false accusations.
The specific allegations made by ZachXBT were not explicitly mentioned in Huang’s tweet.
However, one of ZachXBT’s articles, titled “22,000 ETH Embezzled and Over Ten Projects Failed: The Story of Machi Big Brother (Jeff Huang),” published in June 2022, accused Huang of being involved in the launch of numerous failed pump and dump tokens and NFT projects.
ZachXBT responded to the lawsuit on June 17 through a series of tweets, labeling it as “baseless” and an attempt to stifle freedom of speech.
Recognizing the potential financial burden ahead, he established a donation wallet address for his followers to contribute towards his legal expenses.
He expressed his belief that the fees associated with defending himself could easily surpass $1 million.
Despite the overwhelming nature of the lawsuit, ZachXBT remained steadfast in his convictions.
He referred to the legal action as “sickening” but acknowledged that he had anticipated such a consequence, recognizing it as the price he must pay for upholding honesty and integrity in his work.
The remarkable response from the crypto community in supporting ZachXBT financially underscores the importance placed on defending free speech and protecting individuals who contribute to the transparency and accountability within the blockchain and cryptocurrency industry.
With the substantial donations received, ZachXBT now has a significantly strengthened position to address the legal challenges he faces, ensuring that his voice and investigative efforts continue to make an impact in the community.
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