Blockchain platform Ava Labs accused of trying to flood competitors with lawsuits, Binance among the victims

CryptoLeaks has published a series of videos obtained from an unknown source, allegedly proving the cooperation of the blockchain platform Ava Labs with the law firm Roche Freedman LLP — representatives of the companies allegedly cooperated to file lawsuits against Ava Labs' competitors.

According to CryptoLeaks, Roche Freedman LLP lawyer Kyle Roche entered into an agreement with Ava Labs in exchange for 1% of all AVAX tokens and 1% of Ava Labs shares. The task of Roche Freedman LLP’s lawyers was to file lawsuits against Ava Labs' competitors, including the largest American cryptocurrency exchange Binance. The litigation was supposed to slow down the development of crypto platforms and help to learn secret information.

The only evidence of such cooperation is a video in which lawyer Kyle Roche allegedly talks about a plan to work with Ava Labs. However, members of the cryptocurrency community believe that the published videos may be dipfakes (a technique of overlaying some images, videos, and sounds on others to create fake videos). This is also the opinion of Binance CEO Changpeng Zhao: «This is wild. I’m not sure if this information is true, I think it’s a deepfake. Binance and Ava Labs are not even competitors,» Changpeng Zhao wrote on Twitter, but later deleted his post for unknown reasons.

Ava Labs CEO Emin Güney Sirer also rejected the accusations of working with Roche Freedman LLP to destroy the reputation of competitors. According to Sirer, his company would never act illegally or unethically towards other cryptocurrency platforms.

However, despite the fact that at the time of writing there is no exact evidence of the veracity of such accusations, the value of the AVAX cryptocurrency has fallen by 10% over the past day (currently AVAX is trading at $ 17.9). As a result, the token has become a leader in the list of the top 100 cryptocurrencies that have fallen sharply in price.

In early June, we published information about Roche Freedman LLP filing a lawsuit against a subsidiary of the global cryptocurrency exchange Binance, Binance. US and its CEO Brian Schroder for false marketing. The lawyers emphasized that Binance. US advertised UST Terra as a more stable cryptocurrency than it actually was. «When UST and its subsidiary token LUNA crashed, thousands of investors lost all their money. And it is the misleading advertising that is to blame for these losses,» the lawsuit states.