Reputable NFT cetacean Machi Big Brother has withdrawn his libel litigation against digital currency investigator ZachXBT.
According to a 14 August post on X (previously Twitter), Jeffrey Huang, also known as “Machi Big Brother,” has withdrawn his defamation suit against the renowned crypto detective ZachXBT.
Machi Big Brother Lauds ZachXBT
Machi Big Brother acknowledged that ZachXBT’s amendments to the article he claimed defamed his character are a kind gesture, which he admitted when he explained his decision to drop the lawsuit. Both parties have agreed to abandon the issue and move forward.
ZachXBT has made significant contributions to the crypto community, as noted by a well-known Non-fungible token (NFT) titan. As a result, the decision to pursue legal action against him was not “the right path” but a last resort.
I am withdrawing my defamation suit against @zachxbt.
Zach has many times in the past been of great service to the crypto community and pursuing legal action against him was a last resort but not the right path.
I appreciate that Zach has made important amendments to his…
— Machi Big Brother (@machibigbrother) August 14, 2023ZachXBT also verified that the lawsuit had been dropped, although he claimed to be surprised that the matter had to proceed to court. In addition, the online detective appreciates that a resolution has been reached.
In response to the June 2022 article “22,000 ETH Embezzled and Over Ten Projects Failed: The Story of Machi Big Brother (Jeff Huang)”, Machi Big Brother filed a lawsuit against ZachXBT precisely one year later. The latter was accused of defamation, but he was quick to label the suit without merit and an attempt to stifle free expression.
ZachXBT discussed Machi Big Brother’s financial misdeeds and the failure of multiple initiatives in the article, as mentioned above. According to the article’s title, the crypto investigator asserted that Huang stole 22,000 Ethereum from the crypto management firm Formosa Financial.
The claims were categorically false, according to Huang’s lawsuit. Numerous individuals perceived Machi’s lawsuit as a demonstration of power dynamics, as he used his immense wealth to intimidate a detective who lacked analogous financial means.
The Assistance With ZachXBT’s Legal Defense
Recognizing the financial burden that the legal battle would impose, ZachXBT created a donation address to solicit contributions from the cryptocurrency community when the lawsuit was filed. Approximately $1 million was budgeted for expenses.
TRON founder Justin Sun made a generous donation of 10,000 TUSD to ZachXBT, and in the end, the crypto community was able to raise more than $500,000 for the detective’s legal defense.
According to a statement from ZachXBT, unused funds contributed to him during the legal battle will be returned in light of the latest development in the case.
