Scandal vs “conspiracy theory” – Avalanche facing CryptoLeaks accusations – CryptoActu

The Avalanche ecosystem (AVAX) is under the spotlight at the start of the week. And clearly, the media – and perhaps legal – storm that is brewing is not a simple detail for the cryptocurrency sector. This even if the main people responsible for this major project are currently opening the airbags so as not to be buried under a pile of accusations, obviously presented as unfounded. A case to be taken with all the necessary precautions, between “conspiracy theory” and dubious competitive practices. Explanations…

The lack of control enjoyed by the cryptocurrency sector only too rarely implies enlightened self-management of its internal practices. Because – between scams of all kinds and sterile speculation – the freedom claimed very often resembles the chaos with which too many people confuse it.. All this fueled by the digital fortunes promised to the most “daring”. And fierce competition whose unhealthy backstage seems worthy of the real economy.

A situation which the Avalanche project (AVAX) has just come up against violently, under the blow of accusations that fell during the weekend. The latter issued and detailed in a media article CryptoLeaks – hitherto totally unknown to the battalion – incriminating videos in support. A file vis-à-vis which it seems necessary to remain cautious. Because the origins of these allegations are as obscure as the practices denounced. A case between “diabolical conspiracy with the law firm Roche Freedman” and “unethical” practices.

Ava Labs – Very Special “Legal Services”

First of all, it seems important to clarify the context of this case. Because it involves at its center the Avalanche project (AVAX), certainly the strongest, cryptologically correct and decentralized after the current leader Ethereum. And more precisely the Ava Labs structure in charge of its community management and development. This last accused of questionable competitive practices vis-à-vis projects and personalities with reputedly (very) questionable policies. Especially in the case of Internet Computer (ICP), Craig Wright and the Alameda structure in connection with the FTX platform and the Solana network (SOL). This is not an excuse or even a proof of innocence, but the framework must still be clearly set.

CryptoLeaks website video

Because in fact, this whole file is based on the statements of a certain Kyle Roche, business lawyer and co-founder of the firm Roche Freedman LLP. This during obviously (or strategically) filmed discussions without his knowledge, during which the subject of the Avalanche project was broached, without however knowing how or from what angle of approach. Videos that allow you to hear him reveal a more than ambiguous relationship with the Ava Labs structure and more particularly the founder of this blockchain Emin Gün Sirer (identified as “Gün”). That about special “legal services” remunerated with large installments of AVAX cryptocurrencies estimated at several million dollars.

We (with Emin Gün Sirer, editor’s note) entered into an agreement, where I agreed to provide legal services in exchange for a certain percentage of the token supply AVAX. »

Kyle Roche

AvaLeak – A “secret pact” of nuisance

More precisely, Ava Labs Structure Reportedly Paid Kyle Roche’s Law Firm To Harm Competing Projects. This, however, if we consider that the latter is as serious as he claims. Because he presents himself as an expert in the cryptocurrency sector, while explaining that Craig Wright (nicknamed fakoshi) would be the creator of Bitcoin. Which is to say that the Teenage Mutant Ninja Turtles are the best Avengers of all time (to give an idea). Or its Bitcoin Satoshi Vision (BSC) is a current top 5 cryptocurrency… while she is in 48th place.

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An accusation which he then details as a “pact” at the origin of the establishment of a “hidden objective” of voluntary harm to competitors in the cryptocurrency ecosystem. All this piloted in the form of “personal vendettas” by Emin Gün Sirer, of whom he would be a very close collaborator. And as a consequence, an increase in the value of the AVAX linked to the strategic exhaustion of competition in the context of repeated legal proceedings. While attracting at the same time the good graces of the regulatory authorities (SEC and CFTC) encouraged to look elsewhere.

In the United States, when you sue an individual or company, you can demand access to their confidential accounts, business data, emails, and social media communications. And more, using a special legal process called “discovery”. It helps to explore the inside of every crypto business. »

Kyle Roche

Ava Labs denies all accusations

charges that the founder of the Avalanche project, Emin Gün Sirer, rejects – of course – in block in a recent Twitter post. While claiming that the technology and the team behind the development of this blockchain “speak for themselves”. But will that be enough?

How could anyone believe something as ridiculous as the absurdity of the CryptoLeaks conspiracy theory? We would never engage in illegal, unethical, and just plain wrong behavior claimed in these selfish videos and inflammatory article. Our technology and our team speak for themselves. »

Emin Gun Sirer

Because, even if we must not neglect the ability of people to quickly forget this kind of business, very simple evidence can be provided. Like this quantity estimated at 1% of the supply of the AVAX cryptocurrency that lawyer Kyle Roche claims to have in his possession, or more than $50 million at its current price. This in the form of remuneration paid for (very special) services rendered to Ava Labs. However, according to the organizational chart of its legal team, made public by Olta AndoniKyle Roche does not appear anywhere… A case to follow!

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Scandal vs “conspiracy theory” – Avalanche facing CryptoLeaks accusations – CryptoActu


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