In the often tumultuous landscape of the Web3 ecosystem, zachxbt stands as a pillar of integrity, battling against cryptocurrency scams and misleading practices. Today, we delve into zachxbt's story, his recent legal challenges, and the Web3 community's remarkable show of support.
The Impact and Consequences of zachxbt's Article
In 2022, zachxbt published a thorough investigation article into Jeffrey Huang, a.k.a. Machi Big Brother, accusing the Taiwanese-American entrepreneur of embezzling 22,000 ETH from Formosa Financial and implicating him in more than ten failed pump-and-dump schemes. A year later, zachxbt found himself facing a defamation lawsuit from Huang - an event he sees as an attempt to silence his essential work.
1/ It’s unfortunate I have to make this thread but I am being sued by MachiBigBrother for an article I published in June 2022.
— ZachXBT (@zachxbt) June 16, 2023
Today Machi filed the defamation lawsuit. The lawsuit is baseless and an attempt to chill free speech. I intend to fight back & defend free speech. pic.twitter.com/anVY6zXU5a
The Web3 Community’s Overwhelming Response
Faced with substantial legal expenses, zachxbt reached out to the Web3 community. The response was overwhelmingly positive. A donation address set up to cover his legal costs has already garnered massive support, amassing 235 ETH, 186,000 USDC, 74,000 USDT, and 9,000 DAI. This surge of contributions underscores the trust and unity within the community.
Upholding the Spirit of Web3: zachxbt's Continuing Fight
In zachxbt's battle against cryptocurrency scams, the Web3 community has proven that it stands for truth and justice, ready to rally around those who champion these values. As the fight continues, we salute zachxbt and the unwavering integrity he embodies. His story serves as a potent reminder that in the face of adversity, the Web3 community stands strong, united, and committed to a fairer, more transparent future.
