Jeff Fan’s career and early life as a musician.
Jeff Fan, also known as “Machi Big Brother,” happened to start his career as a musician and turned to technology later in his career. A Taiwanese-American musician was one of the largest owners of Bored Ape Yacht Club NFTS.
After success at LA Boyz, Huang gained more success by creating the Machi Group in 2003. MachiEntertainment was planning to follow after tasting all the ventures up to that point. Even Machi Entertainment, founded in 2003, has gained success and fame. After spending a lot of time in the music industry, Jeff started a company called 17Media and moved into the technology industry.
Noisy tweets in the market.
22,000 ETH embezzled and over 10 projects failed: Machi Big Brother (Jeff Huang) Story https://t.co/eAzV9vkoRb
— ZachXBT (@zachxbt) June 16, 2022
Allegations of stealing 22000 Ethereum tokens.
Jeff Fan began his journey into the crypto market with Mithril in 2017. The projects he was involved in were suspicious, somewhat unethical, and poorly managed. The team he worked with was also inappropriate and dismal.
Jeff also allegedly stole $ 22,000 worth of Ethereum coins from the crypto market in 2017. The musician remained secret for four years running the crypto project that was finally destined for it. Let’s take a quick look at the types of projects he was involved in.
List of failed crypto projects:
- Mithril – Mithril was the first project to bring Huang into the crypto market. This project was designed as a social media site that rewards users with native MITH tokens.
- Formosa – Financial management blockchain. Ethereum was raised in an angel investment round in 22,000. The company’s investors included large cryptocurrency exchanges such as Binance and BlockOne.
- Machi X – Machi X was a social marketplace for intellectual property rights. Funding for this project was an obstacle for the founders who own the disasters of previous projects.
- Cream Finance – A fork of compound finance, Cream Finance (CREAM) was founded in 2020 by Jeff and Leochen. (COMP). The exploit stole about $ 192 million from the project.
- Wife’s Finance – Wife’s Finance is also one of Huang’s failed crypto projects.
- Swag Finance – The lack of information about Cream Finance listing Swag as collateral has caused a lot of anger on CryptoTwitter.
- Mith Cash – On December 30, 2020, the “Anonymous” team launched Mith Cash, a fork of the Basis Cash (BAC) protocol (algorithm stablecoin), with Huang as an advisor.
As the claims to musicians grew stronger, there were many such projects that came to light one after another. Other projects that participated in the defamation of musicians were Typhoon Cash, Mud Games, and Squid Dao. These projects failed and millions of dollars were wasted.