The head of Binance said that the cryptocurrency exchange will donate $50,000 to support ZachXBT, a famous "detective" in the blockchain community
A famous crypto detective nicknamed ZachXBT collected more than $1 million from subscribers in two days to cover legal expenses. On the evening of June 16, he announced that he had been sued for defamation. And published an address for donations for his legal expenses.
ZachXBT wrote on Twitter that he was being sued by Jeffrey Huang, also known as Machi Big Brother. The plaintiff claims that the crypto detective slandered him in a 2022 article. When the detective claimed that Huang stole 22,000 ETH from the cryptoproject Formosa Financial.
Both contributors are well-known opinion leaders in the English-language cryptocurrency community. ZachXBT has released dozens of investigations into major manipulations by cryptoprojects or Influencers. Who have been seen promoting fraudulent assets. Some of his revelations have formed the basis of law enforcement investigations. And which have led to arrests or fines for proven fraud.
Jeffrey Huang is an NFT Influencer known for multi-million dollar deals to buy images from popular collections. Also according to an investigation from a detective, Huang made a fortune from advertising fraudulent crypto projects. Huang demanded that ZachXBT retract the material and remove it. ZachXBT claimed that "the claim is unfounded and an attempt at censorship, and he intends to fight for freedom of speech."
ZachXBT compared the case to the story of David and Goliath.
While pointing out that Huang is rich and "uses his capital to silence ZachXBT." ZachXBT wrote that he himself is not so rich. And asked subscribers to help cover his legal fees, which he said could exceed $1 million.
Also he published an address for donations. On the evening of June 16, it had about $57,000 in cryptocurrency, according to The Block. As of June 19, the amount of cryptocurrency funds sent to the cryptocurrency address over the weekend exceeded $1 million. He began withdrawing them to the Uniswap exchange.
Changpeng Zhao, head of Binance, decided to support ZachXBT and wrote that the cryptocurrency exchange would send him $50,000. Following Zhao in the comments, various cryptoprojects started tagging him, reporting their donations and wishing him good luck. Our experts note that no one should stand aside and should support ZachXBT. As he is doing a very important job that not everyone can do and now at a difficult time the crypto community should give their support.
