Lawsuit embroiled Machi Big Brother has lost over $10M in NFTs
Tech entrepreneur and former rapper Jeffrey Huang, known as Machi Big Brother online, crossed the $10 million benchmark in NFT losses on Thursday when several were dumped at once. Huang first found success as an original member of 90s hip-hop group L.A. Boyz — famous in Taiwan — and has since become known as an NFT collector and serial entrepreneur. According to crypto analyst ZachXBT, however, Machi Big Brother’s business dealings aren’t quite in tune. Controversy was stirred within the crypto community last week when Huang filed a defamation lawsuit against ZachXBT over a Medium article that showed on-chain data suggesting Huang embezzled from his former company. According to the sleuth, Formosa Financial promised Binance and other investors it would launch a centralized crypto exchange — instead, its founder Huang embezzled 22,000 ether in 2018 (worth $41 million at press time). “I have consistently maintained that the allegations in his article are false. I ...