ZachXBT, the crypto investigator who recently emerged victorious in a lawsuit filed against him by Jeffrey Huang, also known as MachiBigBrother, has commenced the process of refunding the unutilised portion of the $1 million in legal donations.
The Path to Legal Resolution
ZachXBT made the official announcement, declaring, “The legal refund claim contract is now active for all donors who contributed via Ethereum, Arbitrum, and zkSync, and this process will remain open for the next 365 days.”
This development follows a legal battle that captured the attention of the crypto community when Huang initiated a lawsuit against the anonymous online investigator earlier this year. The lawsuit alleged that ZachXBT’s article, titled “A Story Of Machi Big Brother (Jeff Huang),” published in June 2022, had caused harm to Huang’s reputation.
The Crypto Community’s Response
As news of the lawsuit unfolded, ZachXBT expressed his disappointment and set up a crypto wallet to solicit support for his legal expenses. He foresaw that the legal battle could potentially incur costs exceeding $1 million.
To his amazement, within a mere 48 hours of issuing the call for donations, ZachXBT managed to collect contributions surpassing the $1 million mark. Eminent figures in the crypto realm, including Binance CEO Changpeng “CZ” Zhao, Kraken founder Jesse Powell, and TRON founder Justin Sun, rallied behind his cause.
A Proportional Refund Process
Now that the lawsuit is behind him, ZachXBT is demonstrating his commitment to transparency and accountability by initiating the refund process for those who supported his legal defense. While some supporters may opt not to seek refunds, ZachXBT remains open to this possibility.
“Some individuals have expressed their desire to donate their unused funds to me,” he acknowledged. “Once the 365-day claim period elapses, unclaimed funds will be considered donations to support my future work.”
Security Measures for Assurance
Amid growing concerns about cyberattacks targeting prominent figures in the crypto community, ZachXBT has implemented additional security measures to ensure the authenticity of the refund distributions.
“I have signed a message from the ZachXBT legal fund donation address to verify my identity,” he announced, underscoring his commitment to safeguarding the process against potential threats.
Recent incidents within the crypto sphere have underscored the paramount importance of robust security measures, with Ethereum co-founder Vitalik Buterin falling victim to a hack that resulted in substantial losses for victims.
In the aftermath of this incident, vigilance within the crypto community remains of utmost importance, with stakeholders like ZachXBT taking proactive steps to protect their supporters and uphold the integrity of their initiatives.
