Jeffery Huang
Bio
- Aka Machi Big Brother
- ZachXBT wrote a blog in which he exposed Jeffrey as a 22k ETH embezzler (16-6-2022):
"Jeffrey Huang, known online as Machi Big Brother, is a former Taiwanese-American musician and tech entrepreneur who embezzled 22,000 ETH from Formosa Financial in 2018. In the four years since the fall of Formosa Financial, Jeff has gone on to launch over ten failed pump and dump tokens and NFT projects. What follows is an extensive overview of Jeff’s history in the crypto space, a brief synopsis of Formosa, his subsequent projects, the other players involved, and as always, the receipts to back it up.
Formosa Financial held an angel round which closed the last week of April 2018, raising 22,000 ETH. A private sale round closed on May 31st which raised an additional 22,000 ETH. This accounted for 30% of the total token supply. In total, Formosa raised $23m USD (44,000 ETH). Notable investors included Binance, QCP Capital, Lemnis Cap, Mithril/Jeff Huang (keep this in mind), Maicoin, Wilson Huang, Leo Cheng’s Syndicate, Blockstate, and Block One.
I reached out to Jeff prior to the release of this article as a general courtesy. He reinforces he was just compensated for his advisor role at Formosa, claims he did not know of the 4980 ETH payment to Bun or Harrison, and he maintains that Mithril never cheated in the Community Coin competition. I believe that there are simply too many coincidences between all of these projects for this to be the case."
Occupations
- CREAM; founder
- Formosa; co-founder
- Machi 17; founder, "a Taiwanese social media company boasting over 42 million users across its various apps and websites" (9-2020). From ZachXBT (16-6-2022):
"In October 2018, Jeff Huang and Leo Cheng launched Machi X, a social marketplace for intellectual property rights, however they struggled to receive funding due to the performance of Huang’s previous project Mithril and the Formosa incident."
"On December 30th of 2020, Jeff and Mithril were back with a new project: Mith Cash, a fork of Basis Cash protocol (an algorithmic stablecoin). Just days after launching, Mith Cash grew to $1b TVL before crashing violently as token holders cashed out their rewards. Mith Cash eventually suffered the same fate as Basis Cash. Similarly to Jeff’s other projects, the team was ‘anon’ and Jeff claimed he was just an advisor."
- Mithril; founder
- Typhoon Cash: From ZachXBT (16-6-2022):
"Shortly after the crash and burn of Mith Cash, Machi was back once again with Typhoon Cash, a Tornado Cash fork. The Typhoon team claimed to have an anon team but it was widely known that Jeff and friends were behind Typhoon. At launch it had been quite clear that the development was sloppy at best. Anyone was able to stake in the anonymity pool and remain anonymous, however, staking in the pool was necessary in order to receive rewards. This meant that in order to receive rewards, your rewards deposit would be doxxed, rendering the concept of an anonymous coin worthless. Within weeks after farming began, the project was abandoned, leaving members of the Telegram and Discord channels screwed over."
"Swag.live was an adult entertainment site that launched its governance token in early October of 2020. When Swag was quietly listed as collateral on Cream Finance, the lack of transparency surrounding the listing caused a fair amount of controversy on Crypto Twitter. Within a few weeks, the token was farmed, dumped, and delisted from Cream."
"In August, Wifey Finance, a Yearn Finance fork, was created by an ‘anon team’, Machi, Leo Cheng, and Wilson Huang all happened to be among the first members of the Wifey Discord channel. TTransaction records show that Wifey’s deployer sent funds to Wilson Huang multiple times. After four days, Wifey Finance was abandoned."
