On June 16, pseudonymous crypto sleuth ZachXBT published a Twitter post containing information about a defamation lawsuit filed against him.

Jeffrey Huang, a Tawainese-American tech entrepreneur and musician known as Machi Big Brother, sued ZachXBT over an article that went live in June 2022. The article describes his research on Huang’s defalcation of 22,000 Ethereum, worth approximately $38 million?the funds derived from the entrepreneur’s crypto treasury management platform Formosa Financial.

On June 15, Machi Big Brother filed a lawsuit in the U.S. District Court for the Western District of Texas, claiming ZachXBT’s allegations were false and the research damaged his reputation.