At issue is a 2022 article in which ZachXBT accused Jeffrey Huang, also known by the alias “Machi Big Brother,” of embezzling 22,000 ETH from crypto-asset management company Formosa Financial. The suit argues that the article lacks evidence and that “the defendant’s allegations about the plaintiff’s possible criminal conduct are categorically false.”
Juan’s lawyers said that the “blockchain sleuth” sought only to make his own profit through the article’s popularity and to attract “additional donations to fund his lifestyle, all at the expense of the plaintiff’s reputation.”. The Taiwanese entrepreneur’s attempts to remove the article from the public domain were unsuccessful, so he is seeking a jury trial and damages.
ZachXBT itself said the lawsuit is completely without merit and is an attempt to limit free speech. The analyst is going to sue and has launched a separate wallet for donations “for legal fees, which could easily exceed $1 million.”. Already, the address has accumulated more than $400,000 in assets.
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“It’s a classic David and Goliath story.. As I know, Machi is extremely rich, and I am not. He’s using his money to get me to keep quiet. I ask for your help so that this doesn’t happen and the truth will prevail,” wrote ZachXBT.
An analyst recently reported that at least 8 popular cryptocurrency Twitter accounts have been hacked in recent weeks, and hackers have received nearly $1 million.