NFT Trader Jeffrey Huang Sues Crypto Detective ZachXBT, People In The Crypto Community Have Donated $1 Million To Help ZachXBT Fight The Lawsuit

An NFT trader called MachiBigBrother, also known as Jeffrey Huang has sued ZachXBT, a blockchain detective, after ZachXBT published a report last year alleging Huang embezzled 22,000 ETH from Formosa Financial in 2018 which defame his reputation.

   ZachXBT's Tweet / Twitter

Huang along with George Hsieh, Czhang Lin, and Ryan Terribilini founded Formosa Financial, a treasury management platform built for blockchain companies. Formosa Financial raised 22,000 ETH from investors.

The lawsuit has been filed on June 16 in the U.S. District Court for the Western District of Texas.

XachXBT published an article “22,000 ETH Embezzled and Over Ten Projects Failed: TheStory of Machi Big Brother (Jeff Huang)” 

alleging Huang embezzled 22,000 ETH.

22,000 ETH Embezzled and Over Ten Projects Failed: The Story of Machi Big Brother (Jeff Huang) | by Investigations By ZachXBT | Medium

Currently, ZachXBT has received over $1 million in donations from people in the crypto community to fight against the lawsuit. Some of the donations come from famous people in crypto such as Changpeng Zhao and Justin Sun.

ZachXBT is one of the most famous crypto investigators. His work involves tracking rug pulls, scams, hacks, exploits in the crypto space which help crypto industry more transparent.