On-chain cryptocurrency “sleuth” ZachXBT was named in a lawsuit filed on June 15th for publishing defamatory articles.

Crypto entrepreneur Machi Big Brother wrote: June 16th:

one year ago, [ZachXBT] Publishing a Medium article about me and damaging my reputation…I have consistently claimed that the claims in his article are false.I look forward to proving it through litigation. [he] unfairly defamed me.

Zach XBT Articles for 2022 Specifically, Machi is accused of embezzling 22,000 ETH ($37.8 million) from a cryptocurrency project called Formosa Financial in 2018.

Machi’s lawsuit alleges ZachXBT is responsible for “publishing and maliciously promoting” false claims that allegedly damage the plaintiff’s reputation.

ZachXBT establishes legal fund

ZachXBT replied June 16th It said Machi’s lawsuit was “baseless and an attempt to chill free speech.” He added that he plans to fight the lawsuit.

ZachXBT highlighted legal defense costs, which he said could exceed $1 million. He said Machi was “very wealthy”. To offset this, ZachXBT opened a cryptocurrency donation address, stating that funds not used in legal defense would be returned to donors.

The lawsuit was filed in the United States District Court for the Western District of Texas.

The post soliciting donations filed by Crypto Sleuth ZachXBT in a defamation lawsuit first appeared on CryptoSlate.

By Jules

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