Jeffrey "Machi Big Brother" Huang has decided to withdraw his defamation lawsuit against crypto investigator ZachXBT.
Huang acknowledged Zach's contributions to the crypto community and expressed that taking legal action was a last resort.
Confirming the dropped suit, ZachXBT revealed plans to return unused donated funds that aided his legal defense.
Despite initial disappointment with the legal route, he expressed gratitude for the resolution and community support.
The lawsuit arose earlier this year when Huang, known as "Machi Big Brother," sued and doxxed ZachXBT over alleged defamation.
ZachXBT's Medium post had accused Huang of embezzling 22,000 ETH from crypto management firm Formosa Financial.
Huang's defamation claims were centered on the alleged falsehoods in the Medium post.
What Can Defamation Entail in Blockchain?
Defamation refers to making false statements that harm someone's reputation.
In this case, ZachXBT had accused Jeffrey "Machi Big Brother" Huang of embezzling cryptocurrency, which Huang claimed was untrue and damaging.
The crypto community had rallied to contribute around $500,000 for ZachXBT's legal support.
This wallet can be viewed here.