See More

ZachXBT Initiates Refunds For Supporters Following Lawsuit Dismissal

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • Crypto sleuth ZachXBT is refunding the unspent portion of $1M in legal donations after lawsuit against MachiBigBrother.
  • Legal refund claim contract is live for donors who donated on Ethereum, Arbitrum, and zkSync for next 365 days.
  • Donations were made by prominent figures, including Binance CEO Changpeng “CZ” Zhao, Kraken founder Jesse Powell.
  • promo

After wrapping up the lawsuit against MachiBigBrother, crypto sleuth ZachXBT is returning the unspent portion of the $1 million in legal donations.

ZachXBT stated,

“The legal refund claim contract is now live for all donors who donated on Ethereum, Arbitrum, and zkSync for the next 365 days.”

ZachXBT’s Pro-Rata Refund for Lawsuit Donations

In a series of posts on X (formerly Twitter), ZachXBT has stated he has started processing refunds for individuals who supported his legal defense against Jeffrey Huang, better known as MachiBigBrother.

Huang filed a lawsuit against the anonymous online investigator in June. He alleged that ZachXBT’s article “A Story Of Machi Big Brother (Jeff Huang)” – published in June 2022 – damaged his reputation.

Following the filing, ZachXBT voiced his disappointment on X. He established a crypto wallet for supporters who wish to contribute to his legal fees.

At the time, he predicted that the costs of fighting this case could easily exceed $1 million. Within 48 hours of the callout, he collected donations exceeding $1 million.

Binance CEO Changpeng “CZ” Zhao, Kraken founder Jesse Powell, and TRON founder Justin Sun were among the donors.

ZachXBT Adds Verification for Legitimacy

ZachXBT stated that some supporters may not seek refunds. However, he will refrain from making assumptions until one year has elapsed:

“Some people have expressed that they wish to donate their unused funds to me. After the 365 day claim period is up funds not claimed will be interpreted as a donation to fund future work.”

Amid concerns about hackers targeting notable X accounts, ZachXBT introduced extra security measures to ensure the authenticity of his refund distributions. “I have signed a message from the Zachxbt legal fund donation address to verify my identity,” he stated.

Screenshot Of Signed Message On ZachXBT Legal Fund Donation Address. Source: ZachXBT
Screenshot Of Signed Message On ZachXBT Legal Fund Donation Address. Source: ZachXBT

Recent cyberattacks on X accounts within the crypto community have resulted in substantial losses for victims.

Notably, Ethereum co-founder Vitalik Buterin recently fell victim to a hack. Malicious actors then proceeded to share a fraudulent Consensys link with his followers.

This incident led to nearly $700,000 in losses as victims connected their wallets to the link, believing they would receive a complimentary non-fungible token (NFT).

Top crypto projects in the US | April 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

ciaran-lyons-avatar.png
Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
READ FULL BIO
Sponsored
Sponsored