Avalanche is an open-source decentralized blockchain developed platform to solve limitations on different decentralized protocols.
Hence, its operations cut across high scalability, speedy execution of transactions, and lower transaction costs. With this height in performance, Avalanche has remained one of the top competitors of Ethereum.
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The blockchain has rolled out several products and applications to achieve tremendous and innovative growth. Some have created an exciting experience for users and other DeFi developers in the crypto space.
A recent report reveals that a crypto group known as CryptoLeaks has laid a serious claim against Ava Labs. CryptoLeaks is a group that exposes diverse corruption and deceits within the crypto industry. The group alleged the parent company of Avalanche blockchain, Ava Labs, is using anti-competitive approaches in its operations.
According to CryptoLeaks, Ava Labs is involved in concerted practices that could upset all its competitors. Also, the group accused Ava Labs of avoiding regulatory rules with its questionable actions.
Further, in its allegations, the group implicated Roche Freedman, a law firm based in New York. It cited that Freedman gathered some sensitive data against the top competitors of AVAX, which it uses to set them on lawsuits. With its action, the firm has rewards in Ava Labs’ stock and AVAX tokens.
AVAX struggles to gain momentum l AVAXUSDT on TradignView.com
To substantiate its claims, CryptoLeaks released some videos to the public. One of the videos showcased a staff of Roche Freedman, Kyle Roche, confirming some of the allegations.
Kyle confessed that they had been involved in different anti-competitive activities. The team revealed that their deals with Ava Labs run as far back as September 2019. In addition, he mentioned that the law firm initiated some actions against crypto networks, such as Solana and Dfinity.
On his part, Ava Labs’ CEO, Emir Gun Sirer, reacted to the allegations from the crypto group, CryptoLeaks. The CEO maintained that all the claims from the group were based on a conspiracy theory. Furthermore, he stated that Ava Labs has never been involved in practices that could be termed unethical or illegal.
For CEO Sirer, all the published negative articles and videos against Ava Labs are inflammatory. However, the CEO reassured the public that the achievements of the networks are all from Avalanche tech team efforts that would never be hidden.
In another development, there is speculation that ICP is possibly behind the propaganda. According to a notable crypto influencer, Cobie, ICP could have a connection to the expose, although the video is incriminating Avalanche. In addition, ICP is the parent firm of Dfinity, part of the competitors that Roche Freedman acted against.
Another person, Andrew T of Nansen AI, supports the opinion of ICP connection. Andrew believed that the allegations from CryptoLeaks could be that Dfinity instigated the group by offering it a reward.
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CryptoLeaks has not said any favorable comments concerning ICP in the past. Instead, the group laid an attack worth multi-billion dollars against ICP holders.
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