ZachXBT, a prominent blockchain investigator, revealed that Jeffrey “Machi Big Brother” Huang has dropped his defamation lawsuit. The suit was withdrawn after ZachXBT made substantial changes to his investigation, toning down accusations and language. Read on to find out what happened.
TL;DR:
- ZachXBT’s defamation lawsuit by Jeffrey “Machi Big Brother” Huang dropped after investigation modifications.
- Dispute centered around allegations of Machi’s embezzlement detailed in ZachXBT’s article.
- Case highlights free speech vs. accountability in Web3, community support, and also responsible reporting.
MachiBigBrother Withdraws the ZachXBT Defamation Lawsuit
In June of 2023, Jeffrey Huang, aka Machi Big Brother, filed a defamation lawsuit against ZachXBT. The lawsuit alleges that ZachXBT’s published claims have tarnished his reputation. ZachXBT, however, views the lawsuit as an attempt to curtail free speech. The dispute revolves around an article where ZachXBT detailed Machi’s alleged embezzlement of 22,000 ETH from Formosa Financial and subsequent failed crypto projects.
Machi’s lawsuit argued that the allegations are false, while ZachXBT believed it was an effort to silence him. Now, ZachXBT reached an agreement with Huang, modifying his published findings to remove sharper allegations against the entrepreneur and NFT trader.
While disappointed with the legal route, ZachXBT expressed gratitude for the resolution. He also pledged to return leftover funds donated by supporters for his legal defense. Huang confirmed the lawsuit’s withdrawal and attributed the decision to the amendments made by ZachXBT to his article. The entrepreneur also acknowledged that pursuing legal action was not the ideal path.
This legal dispute gained significant attention and support within the crypto community. High-profile figures like Tron’s Justin Sun and Binance’s Changpeng Zhao contributed to over a million dollars in donations for ZachXBT’s legal defense!
Finally, ZachXBT’s case highlights the balance between free speech and accountability in Web3. It also underscores the impact of public opinion on legal matters. With this resolution, the episode sheds light on the evolving landscape of Web3-related lawsuits and the importance of responsible investigative reporting within the industry.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
