ZachXBT’s numerous claims of price manipulation are categorically refuted by Jeffrey Huang
Key Points:
- In response to the previous allegations made by on-chain detective ZachXBT, Jeffrey Huang chimed in.
- He declared that ZachXBT’s claims that he had misappropriated funds were baseless and false.
- Huang Licheng responded to the “Squid DAO” charge by stating that he did not push up, sell, or engage in any improper behavior.
Jeffrey Huang, a tech entrepreneur, former musician, and one of the largest NFT Bored Ape Yacht Club holders, warbled to contradict the prior round of claims made by on-chain investigator ZachXBT.
He stated that ZachXBT’s allegations of money theft were baseless and untrue. He didn’t steal 22,000 ETH from Formosa Financial, first and foremost. He does not have access to the multisignature that is used to send the vault ETH, nor are any of the receiving addresses his own. Formosa Finance’s CEO Ryan Terriblini and CTO Lorne Lantz are multi-signatories.
Second, he visited other teams in 2020 and Cream Finance before it was attacked once more in August and October 2021. He re-administered the protocol in February 2022 and recovered funds for users harmed by the hack.
In addition, Huang Licheng stated that he did not push up, sell, or engage in any illegal activity in response to the “Squid DAO” charge. Squid DAO is associated with him. He supported a plan to return DAO funds in January 2022, which led to the return of nearly 12,000 ETH to members of the Squid DAO.
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On-chain detective ZachXBT was sued by Jeffrey Huang, one of the people he accused of defamation fraud, according to a post from June 16. As indicated by the article, Huang, likewise referred to on Twitter as “MachiBigBrother,” blamed ZachXBT for harming the organization name through bogus allegations.
Over a million dollars have already been donated to ZachXBT’s donation address, which was established to safeguard free speech. ZachXBT received a donation from Binance CEO Changpeng “CZ” Zhao, who urged ZachXBT to keep fighting and make the industry honest. Binance and Zhao are currently involved in a high-profile Securities and Exchange Commission lawsuit.