Another crypto project that’s been making the headlines lately is Avalanche and that’s because of a controversial investigative report published by Crypto Leaks which alleges that other labs.
the company behind Avalanche hired a law firm to go after competitors and direct regulators away from Avalanche.
while these kind of reports typically turn out to be nothing more than hit pieces based on questionable evidence the investigation by Crypto Leaks contained some pretty concrete evidence including multiple videos of a lawyer detailing his law firm’s close relationship with other labs.
naturally this begs the question of whether the videos were fake well as it so happens block works hired a digital media forensics expert to find out and they confirmed that the videos in the Crypto Leaks report were authentic.
this immediately begs a second question and that’s the motive behind the report.
in a Medium post responding to the Crypto Leaks report the lawyer in question claimed that it contained quote illegally obtained highly edited video clips that are not presented with accurate context denied that what his law firm was doing was illegal and that he was intoxicated in the videos.
the lawyer also claimed that the man who filmed him was hired by Dominic Williams the creator of the Internet Computer.
now some have cited Crypto Leaks previous reports as being evidence to this effect since they were both about attacks against the ICP coin.
Dominic has not yet responded to these allegations.
now as some of you may have seen Avalanche co-founder and other lab CEO Emin Gunsira dismissed the crypto leaks report as quote conspiracy theory.
nonsense which resulted in the Crypto Leaks twitter account responding with even more evidence to back up the claims made in the report.
unfortunately it seems the responses by Emin and the lawyer failed to sway the opinions of many dismayed AVAX holders as the coin began to tumble shortly afterwards and has yet to recover at the time of shooting.
in what some are considering to be an admission of guilt the law firm in question pulled out of a series of lawsuits a few days later and the Avalanche community has seemingly found themselves with more questions than answers.
crypto podcaster and writer Kobe perfectly summed up the situation in a tweet where he pointed out that while the reporting by Crypto Leaks is questionable for many reasons it’s extremely hard to explain away the apparent authenticity of the videos upon which the report is based.
the reality is that it’s not entirely clear who’s telling the truth at this point in time but I think it’s worth reminding everyone that cryptocurrency is extremely competitive and not everyone plays the game honestly.
that said Avalanche is not a crypto project that I would consider to be a dishonest player even if the allegations are true everything they were doing was completely legal at least to my understanding.
if this is in fact the case then you can bet your portfolio that other crypto projects are doing the same and I’m sure we can think of a few truly dishonest players in the crypto industry.