SNEAK PEEK
- TRON founder Justin Sun pledges 10,000 TUSD to support ZachXBT in a defamation lawsuit.
- On-chain investigator ZachXBT faces a defamation lawsuit from Jeffrey Huang (MachiBigBrother) over an article published on Medium.
- The crypto community unites to support ZachXBT’s fight for free speech and transparency in the cryptocurrency industry.
Renowned blockchain innovator and TRON founder Justin Sun recently announced his donation of 10,000 TUSD to ZachXBT, an esteemed on-chain investigator known for his work in enhancing blockchain security. Sun’s donation aims to support ZachXBT, real name Zachary, in his legal battle against a defamation lawsuit filed by Jeffrey Huang, better known as MachiBigBrother in the crypto world.
I’m pleased to pledge a donation of 10k #TUSD to @zachxbt. Despite not being a legal expert myself, I highly value Zach’s substantial contributions to blockchain security and his crucial role in guiding our users to safeguard their funds. https://t.co/MgkVDWAmU1 https://t.co/kg0tsHRudJ
— H.E. Justin Sun 孙宇晨 (@justinsuntron) June 17, 2023
Justin Sun expressed his commitment to the defence on Twitter, stating that Zachary’s significant contributions to the security of the blockchain community were the motivation behind his support. He emphasised the essential role Zachary plays in helping users protect their assets.
The controversy started when ZachXBT published an article on Medium in June 2022 titled “22,000 ETH Embezzled and Over Ten Projects Failed: The Story of Machi Big Brother (Jeff Huang).” In this piece, Zachary accused Huang of embezzling 22,000 ETH from Formosa Financial in 2018 and initiating several unsuccessful “pump and dump” tokens and NFT projects.
Reacting to the allegations, Huang, affluent in the crypto sphere, decided to use his financial power to fight back, resulting in the lawsuit filed in the United States District Court of the Western District of Texas, Austin Division. Case number 1:23-cv-00683 places Zachary as the defendant against the plaintiff, Jeffrey Huang.
On Twitter, Zachary referred to the lawsuit as a ploy to suppress free speech, promising to fight back to defend this right. He shared a screenshot of the lawsuit and appealed to the crypto community for financial aid, estimating the total cost of the legal proceedings to exceed $1 million. To maintain transparency, Zachary assured that any remaining funds would be returned to contributors proportionately.
This drama marks another chapter in the ever-growing world of crypto controversies. However, the unity demonstrated by the crypto community, as they rally behind one of their own, shines a spotlight on the enduring strength of this burgeoning industry. As the case unfolds, all eyes are on how this lawsuit will shape discussions around transparency and accountability in cryptocurrency.
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- Source: https://investorbites.com/justin-sun-backs-on-chain-sleuth-in-high-profile-defamation-suit/
