{"id":408958,"date":"2023-06-19T06:57:26","date_gmt":"2023-06-19T06:57:26","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=408958"},"modified":"2023-06-19T06:57:39","modified_gmt":"2023-06-19T06:57:39","slug":"zachxbt-donations-exceed-1-million-amid-defamation-lawsuit","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/zachxbt-donations-exceed-1-million-amid-defamation-lawsuit","title":{"rendered":"ZachXBT: Donations Exceed $1 Million Amid Defamation Lawsuit"},"content":{"rendered":"

ZachXBT, a famous crypto sleuth, got a great response to a defamation lawsuit. Despite all expectations, donations have surpassed $1 million, a testament to the unwavering support we’ve received. In addition to strengthening ZachXBT’s resolve, the overwhelming generosity provides invaluable resources to navigate the legal challenges ahead.<\/p>\n

Standing Strong Together: ZachXBT’s Defense Fund Crosses $1 Million Threshold<\/h2>\n

ZachXBT, a well-known blockchain investigator, recently revealed<\/a> that he’s being sued for defamation over a previous investigation. The crypto community has supported him by donating over $1 million to his legal defense. ZachXBT will be able to fight this lawsuit with the help of these donations.<\/p>\n

ZachXBT tweeted a digital wallet address last Friday. In his comments, he talked about a lawsuit filed by Jeffrey Huang, a musician and tech entrepreneur from Taiwan. ZachXBT compared the lawsuit to the famous “David and Goliath story.”<\/p>\n

Machi Big Brother, also known as Huang, sued ZachXBT. ZachXBT posted an article last year accusing Huang of taking millions of dollars worth of Ethereum from a crypto treasury management platform called Formosa Financial. The on-chain data ZachXBT provided supported his claims.<\/p>\n

My understanding is that Machi is very wealthy. I am not,\u201d ZachXBT says. \u201cHe is using his money to try [to] silence me.<\/i><\/p><\/blockquote>\n

ZachXBT says<\/a> defending himself might cost him more than $1 million. ZachXBT’s digital wallet received donations exceeding that amount within just one day. As Nansen Portfolio reports<\/a>, these donations mostly consist of stablecoins.<\/p>\n

When writing, the wallet holds USDC stablecoin worth over $650,000, Tether stablecoin<\/a> worth nearly $274,000, and Polygon nearly $90,000.<\/p>\n

Exchanges Rally Behind ZachXBT<\/h2>\n

Different crypto exchanges are participating in the fundraiser. Nansen data shows ZachXBT’s wallet has received funds from Binance, Bybit, Coinbase, Bitfinex, Kraken, Uniswap, OKX, and 1inch wallets.<\/p>\n

Several transactions range from $10,000 to $50,000, as members from various parts of the crypto industry contribute.<\/p>\n

Despite being sued by the SEC, Binance CEO Cangpeng “CZ” Zhao donated<\/a> to ZachXBT, encouraging him to keep fighting.<\/p>\n

According to a translated tweet<\/a>, Justin Sun, founder of Tron and advisor to Huobi, donated $10,000 worth of True USD to ZachXBT. Justin Sun’s generous donation highlights ZachXBT’s role in educating the crypto community.<\/p>\n

ZachXBT’s spent years analyzing crypto projects and on-chain stuff. The Twitter community has benefited from his tireless efforts in uncovering and exposing bad actors, providing warnings about scams, and sharing the root causes of hacking incidents.<\/p>\n

ZachXBT became a prominent figure in the crypto world while he kept his identity a secret. Huang’s lawsuit revealed ZachXBT’s real name and location, revealing his true identity. Now ZachXBT and his personal details are in the spotlight.<\/p>\n

A fair share of the remaining funds donated to ZachXBT’s legal defense will return to him on Friday. Due to this, the funds will be returned proportionally.<\/p>\n

ZachXBT is getting a lot of support from the Web3 community<\/a>. People are voluntarily contributing their hard-earned assets because they recognize their contributions. The outpouring of support is a testament to ZachXBT’s selfless contributions and willingness to help.<\/p>\n

The ZachXBT case is a symbol of Web3’s power. His story inspired a lot of people to help others. Together, Web3 is going to have a brighter future.<\/p>\n","protected":false},"excerpt":{"rendered":"

ZachXBT, a famous crypto sleuth, got a great response to a defamation lawsuit. Despite all expectations, donations have surpassed $1 million, a testament to the […]<\/a><\/div>","protected":false},"author":1915,"featured_media":408989,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-408958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"\nZachXBT: Donations Exceed $1 Million Amid Defamation Lawsuit - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Crypto sleuth ZachXBT won a defamation lawsuit. 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