ZachXBT received more than $900,00 to defend himself in a defamation lawsuit.
ZachXBT is a popular Crypto Twitter user. He is mainly known for his unique style & strategy to trace & catch the bad actors & illicit crypto transactions. He does this work for free, but he lives his life with the rewards that he collects from the crypto sector for his free job.
Recently Jeffrey Huang initiated a suit against ZachXBT. Through the suit, Huang alleged that ZachXBT never contributed to orchestrating the embezzlement of some 22,000 ETH from Formosa Financial in 2018. According to Plaintiff, ZachXBT is only misleading people through false claims, for huge respect from this sector.
To fight against all these allegations, ZachXBT is getting full support from the crypto Twitter community. So far he received $933,593.74 worth of crypto assets. People donated these crypto assets for ZachXBT to use to pay for the legal experts & lawyers to defend himself in this suit.
Atomic wallet incident
In the first week of this month, the popular self-custody crypto wallet “Atomic Wallet” was exploited a long time back. Hacker(s) started withdrawing funds from the Atomic Wallet users in huge amounts.
Reportedly hackers drained nearly more than $100 million worth of crypto assets.
At the time, ZachXBT also investigated the case & helped some victims to recover huge amounts of funds back.
This crypto detective always remains active to investigate the scammer’s link & their focussed scam activities. Just two weeks ago, ZachXBT reported that a hacker or a group of hackers are mainly targeting high-profile Twitter accounts to promote fake/suspicious crypto-airdrop campaigns.