CryptoLeaks, a crypto organisation that claims to reveal industry malfeasance.
The parent firm of the Avalanche blockchain, a significant rival to Ethereum, is Ava Labs.
Experts worry that the Avalanche exposé could be ICP's paid advertising, though. ICP Blockchain's parent business is Dfinity. Prices for avalanches have dropped by 17% over the past week and by 8% over the past 24 hours.
What Exactly Is The Charge Against Avalanche?
Ava Labs, the parent business of AVAX, has been charged by CryptoLeaks for engaging in anti-competitive behaviour. It asserts that Ava Labs made a deliberate effort to harm its rivals and elude regulation.
The law firm Roche Freedman with offices in New York is also included in the charges. It is claimed that Freedman gathered private information on AVAX's rivals and then sued them. They were compensated with a sizable sum of AVAX tokens and Ava Labs stock.
Videos were also published by CryptoLeaks. In one of these videos, Kyle Roche of Roche Freedman is shown confessing to using unfair trade tactics. In response, Roche Freedman took action against Solana and Dfinity. He also acknowledges that in September 2019 he worked on contracts for Ava Labs.
CEO of Ava Labs Emir Gun Sirer describes the accusations as a conspiracy theory. He thinks that the business has never carried out any unethical or unlawful practises. He referred to the articles and videos as provocative. He claims that Ava's technical staff speaks for itself.
Does ICP Promote CryptoLeaks?
Despite the fact that the video makes Avalanche appear guilty, Cobie, a significant crypto influencer, thinks the exposé could be ICP propaganda. ICP's parent firm, Dfinity, is one of the rivals that Roche Freedman pursued legal action against.
However, CryptoLeaks has also defended ICP in the past. It previously asserted that ICP holders were the target of a multibillion dollar campaign.
Another person who thinks Dfinity is paying CryptoLeaks to spread misinformation about Avalanche is Andrew T of Nansen AI.
