NFT trader, tech entrepreneur, and musician Jeffrey Huang, also known on Twitter as Machi Massive Brother, denied the allegations made against him about the theft of 22,000 ETH from the digital asset management platform Formosa Monetary. In a report published last year, ZachXBT, an on-chain investigator, claimed that the Taiwanese American singer had stolen over 22,000 ETH and had launched over “10 failed pump and dump tokens and NFT initiatives.”
Huang launched a defamation case against ZachXBT last week, accusing the detective of tarnishing his reputation. In response to the NFT dealer’s claims, ZachXBT asserted that Huang’s lawsuit is “baseless and an attempt to sit back free speech” in an effort to defend himself.
In the meanwhile, the largest cryptocurrency exchange Binance gave Zach $850k as financial support for the slander action. The donation, however, raised questions because it followed Huang’s donation of his Bored Ape Yacht Membership (BAYC) NFT collection to Binance.
On June 19, Huang announced the “inaccuracies in Zach’s publish” in a series of Twitter threads.
The businessman emphasized that the detective was incorrect in his charge and was unable to provide any evidence to support it. Huang created another thread in an attempt to settle the charges against him, saying that he has “proof and receipts.”
The NFT provider insisted that he “didn’t have access to the multisig that transferred the treasury ETH” in response to the charge of stealing ETH. He continued by saying that he did not own any of the receiving addresses.
According to Huang, “There have been two, not three exploits” in reference to the claims regarding the exploitation of Cream Finance, a failed venture discussed in Zach’s article.
Last but not least, Huang clarified the charges associated with the unsuccessful Squid DAO project by saying there was no pump or dump. He confirmed that there was no “wrongdoing” by including documentation of the reallocated 12,000 ETH in 2022.
