Crypto community supports ZachXBT with $1M donations

Crypto community supports ZachXBT with $1M donations

Altcoin news, News

ZachXBT, a highly regarded blockchain investigator who is facing defamation charges, has received the support of the cryptocurrency community and top companies. Stablecoins and tokens worth over $1 million have been donated to his cause in a powerful show of support, according to on-chain analytics tool Nansen.

 

ZachXBT has received contributions from various wallets, including USD Coin, Tether, Dai, and memecoins like JESUS and PEPE. It has received support from prominent backers like Binance, CertiK, and Justin Sun, creator of Tron. Most funds were received on the Ethereum blockchain, with smaller amounts from other platforms. ZachXBT transferred the funds to another address to ensure security. A legal dispute arose when NFT trader Jeffrey Huang filed a lawsuit against ZachXBT, accusing him of defamation.

The lawsuit alleges that ZachXBT’s actions caused significant reputational and financial damage to Huang. ZachXBT has reached out to his followers for support to cover the legal costs, with the goal of raising at least $1 million. The generous donations received thus demonstrate the community’s commitment to safeguarding independent voices in the blockchain sector.

Compiled by Coinbold

Binance, blockchain, ETH, Justin Sun, NFT, Polygon, Stable Coin, TRX, USDC, USDT

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