On August 26, CryptoLeaks published an investigation alleging that Ava Labs, the company behind Avax cryptocurrency, instigated attacks on its competitors to impede their development.
Competitors cited in the publication include Solana, Binance, and Dfinity Foundation.
As per the publication by CryptoLeaks, Ava Labs is currently working with Roche Freedman, a law firm that says it “widely sues people in crypto, currently running at least 25 class actions.”
According to CryptoLeaks, Ava Labs has been “operating according to an extraordinary secret pact that harms the crypto industry, and has a nature so perverse that it undermines the integrity of the American legal system.”
Ava Labs is in an agreement with Roche Freedman to “pursue hidden purpose” and in return, the law firm will have access to Ava Labs stocks and Avax cryptocurrency worth millions of dollars, as noted in the publication.
Some videos were also included in the publication to affirm the claim.
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Ava Labs CEO, Binance’s CZ, Others Respond to the Allegation
Since the publication of the allegation by CryptoLeaks, many giant individuals in the crypto space have responded to the claim.
However, the CEO of Ava Labs Emin Gün Sirer on Sunday, took to Twitter to respond to the allegation, calling the allegation “ridiculous” and alleging that it’s a “conspiracy theory nonsense on Cryptoleaks,” he, however, affirmed that the firm will never engage in unlawful and unethical acts.
Another prominent respondent is Binance’s CZ who, according to him, says he doesn’t think the allegations are true.
Ari Paul, the founder of Blocktower also opined that the allegation “fits with everything I’ve seen previously from both Sirer and Roche.”
Following the report by Cryptoleaks, Avax’s market value plunged by 20%.
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