ZachXBT, a self-described on-chain investigator, and Jeffrey Huang, also known as Machi Huge Brother, are currently engaged in a slander lawsuit over ZachXBT’s recent purchase of a luxury $25 million property in Los Angeles. The 14,000 square foot home, which sits on half an acre of hillside ground, was previously listed last May with a $34 million asking price.
The estate has opulent features like an infinity pool, unique walnut millwork, and a wine room with a bar. Huang’s new home, located in the densely populated Hollywood Hills, is flanked by equally opulent contemporary homes, including those owned by Calvin Klein, the Winklevoss Twins, Richard Saghian, the founder of Trend Nova, and millionaire Bernard Arnault.
Huang buys a property as he files a lawsuit against ZachXBT. The scandal began with a report ZachXBT posted on Twitter, which claimed Huang had stolen 22,000 ETH from Formosa Financial in 2018 and used it to fund a number of unsuccessful initial coin offerings (ICO) and non-fungible token (NFT) projects after the company’s demise.
Huang has launched a defamation action against ZachXBT in response to these allegations in an effort to address the reputational harm caused by the assertions made in the article and to seek out the most appropriate legal remedies.
Since then, ZachXBT has appealed to the cryptocurrency community for assistance, setting up a donation page and requesting support from followers to pay for the legal costs associated with fighting the lawsuit. As of the final studies, donations from multiple wallets in numerous stablecoins and tokens had surpassed $1 million, with backers including Justin Solar, the founder of Tron, CertiK, and crypto exchange Binance. The majority of those monies came from the Ethereum blockchain, with minor sums coming from tokens based on Arbitrum, BNB Chain, Optimism, Polygon, and Fantom.
