Prominent businesses have donated over $1 million in various stablecoins and crypto assets to ZachXBT following defamation charges levied against the crypto sleuth.
Backers include Binance exchange, security firm Certik, and Tron founder Justin Sun, among others. In large part, most funds were received on the Ethereum blockchain, with smaller amounts sent from various other chains such as Arbitrum, Optimism, Polygon and other cryptos.
And like that, @zachxbt has raised $1M, with the support of CT in just over 24 hours!
— Nansen 🧭 (@nansen_ai) June 18, 2023
ZachXBT moved funds to another address on Monday morning, per on-chain data.
Last week, NFT trader Jeffrey Huang, also known as MachiBigBrother, sued ZachXBT, an independent crypto detective, after the on-chain detective published a report alleging that Huang embezzled tends of millions of dollars worth of crypto.
Filed on Friday in the US District Court for the Western District of Texas, the lawsuit alleged ZachXBT defamed MachiBigBrother, “inflict[ing] serious reputational and monetary harm” on him.
According to the complaint, the crypto sleuth faces one count of libel and one count of libel per se.
ZachXBT has asked followers to help support legal costs associated with fighting the lawsuit, aiming to raise $1 million at least. The detective says he has been approached by random accounts attempting to extort $100,000 from him too.
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