- Jeffrey Huang buys a $25 million mansion in LA amidst a legal battle with ZachXBT.
- The lawsuit stems from ZachXBT’s allegations of Huang’s misappropriation of 22,000 ETH and failed ICO and NFT projects.
- ZachXBT’s fundraising initiative for legal costs receives over $1 million in donations from the cryptocurrency community.
Jeffrey Huang, also known as Machi Big Brother, has recently purchased a lavish $25 million mansion in Los Angeles amid an ongoing defamation lawsuit with ZachXBT, a self-declared on-chain detective. Occupying half an acre of hillside land, the 14,000-square-foot property was initially put up for sale last May for an asking price of $34 million.
The mansion boasts luxurious features such as an infinity pool, custom walnut millwork throughout, and a wine room with a bar. Set in the tightly-packed Hollywood Hills, Huang’s new home is surrounded by similarly extravagant contemporary residences, with neighbors including Calvin Klein, the Winklevoss Twins, Fashion Nova founder Richard Saghian, and billionaire Bernard Arnault.
Huang’s property acquisition takes place amid his lawsuit against ZachXBT. The controversy originated from an article ZachXBT published on Twitter, alleging that Huang had misappropriated 22,000 ETH from Formosa Financial in 2018 and launched several unsuccessful initial coin offering (ICO) and non-fungible token (NFT) projects following the company’s collapse.
In response to these accusations, Huang has filed a defamation lawsuit against ZachXBT, seeking to address the reputational damage caused by the article’s claims and seeking appropriate legal remedies.
ZachXBT has since turned to the crypto community for support, setting up a donation address and urging followers to help cover the legal costs associated with fighting the lawsuit. As of the last reports, donations from hundreds of wallets in various stablecoins and tokens have exceeded $1 million, with backers including crypto exchanges Binance, security firm CertiK, and Tron creator Justin Sun. Most of these funds were received on the Ethereum blockchain, with smaller amounts sent from Arbitrum, BNB Chain, Optimism, Polygon, and Fantom-based tokens.
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