ZachXBT Returns Unspent Legal Donations After Lawsuit
Crypto investigator ZachXBT has announced that he is returning the unspent portion of the $1 million in legal donations he received for his defense against Jeffrey Huang, also known as MachiBigBrother. The refund claim contract is now live for all donors who contributed on Ethereum, Arbitrum, and zkSync platforms. ZachXBT has started processing refunds for individuals who supported his legal defense.
Background: Lawsuit Filed by Jeffrey Huang
In June, Huang filed a lawsuit against ZachXBT, claiming that an article published by the investigator had damaged his reputation. In response, ZachXBT established a crypto wallet to collect donations from supporters willing to contribute to his legal fees. Within 48 hours, he had surpassed his target of $1 million, with donations from prominent figures such as Binance CEO Changpeng Zhao and TRON founder Justin Sun.
Enhanced Security Measures for Refund Distributions
To ensure the authenticity of the refund distributions amid concerns of hackers targeting high-profile accounts, ZachXBT introduced additional security measures. He signed a message from the Zachxbt legal fund donation address to verify his identity.
Hot Take: ZachXBT’s Transparent and Prompt Refund Process
ZachXBT’s decision to return the unspent legal donations demonstrates his commitment to transparency and accountability. By initiating the refund process promptly and introducing verification measures, he reassures donors of his intentions and safeguards against potential security risks. This not only sets a positive precedent for handling legal defense funds in the crypto community but also fosters trust and confidence among supporters. ZachXBT’s actions showcase the responsible use of donated funds and reinforce the importance of ethical practices in the industry.
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