Ava Labs Controversy

Kyle Roche, the founding partner of Roche Freedman LLP, was featured in a series of films provided by CryptoLeaks. The videos contain disturbing Roche claims and reveal how Roche Freedman and Ava Labs formed a “secret pact.”

Ava Labs, the firm behind the Avalanche blockchain project, is being buried in claims that they and their lawyer were planning to attack market competitors by targeting cryptocurrency projects in class action lawsuits. The allegations became public last Friday by the website CryptoLeaks. They had previously made allegations against FTX and the crypto analysis firm Arkham Intelligence.

According to the investigation, Kyle Roche had a more intense relationship with Ava Labs than is typical for a lawyer-client relationship. Roche is a founding member of the Miami-based legal firm Roche Freedman. The report claims that Roche Freedman and Ava Labs have used class action lawsuits to legally attack other businesses. At the same time, they avoid the attention of regulatory authorities on their projects. Roche got compensation with an ownership investment in Ava Labs and 1% of the total supply of AVAX tokens. AVAX is the primary cryptocurrency for the Avalanche blockchain.

Following are the steps Roche Freedman took:

  • Attack and destroy crypto companies and projects that could compete with Ava Labs or Avalanche in some way. For this purpose use the American legal system in a gangster-type way
  • Initiate general lawsuits against actors in the cryptocurrency sector. The goal is to attract authorities like the SEC and CFTC and distract them from the extremely commercial nature of Ava Labs
  • Pursue Emin Gün Sirer’s vendettas against individuals in secret

The whistleblowers claim that all of these lawsuits granted their attorney access to company data gotten through discovery. They got information about what evidence the other side will present during a trial. In this way, they gain access to competitors’ investors, contractual agreements with partners, customer lists, internal communications, and more.

Reactions to CryptoLeaks’ assertions

Some people in the cryptocurrency world did not appear to trust the CryptoLeaks report.

According to Andrew Thurman, a content lead at blockchain analytics company Nansen, CryptoLeaks is funded by Internet Computer. Notably, Roche Freedman started a class action lawsuit against Dfinity, the firm that owns Internet Computer, last year.

Roche identified one of the off-camera respondents in the video as Christen Ager-Hanssen. He is an entrepreneur and venture capitalist. In a statement, Roche said, “These videos were shot without my authorization during private chats with Hanssen.” He works for Dominic Williams, the founder of ICP Token and the defendant in a high-profile securities fraud case my company launched against him”.

Binance CEO Changpeng Zhao called the story “crazy” in a now-deleted tweet. He assumed the legitimacy of the proof videos released by Crypto Leaks. Zhao stated that Binance was the target, although the centralized exchange is not a direct rival of Avalanche.

In response to an allegation in the Crypto Leaks story, Brad Garlinghouse, CEO of Ripple Labs, tweeted on Twitter Monday that he had “never seen or spoken to (much less invested in) Kyle Roche.”

Respond from Ava Labs

Emin Gün Sirer, the Founder and CEO of Ava Labs, the firm behind Avalanche (AVAX), has commented on the shocking story published recently by CryptoLeaks. Sirer said in a tweet today that claims of conspiring against rivals are “crazy,” calling them “conspiracy theory garbage.”

Moreover, Ava Labs’ COO and Co-Founder Kevin Sekniqi replied to the news, tweeting that the allegations against the company are “idiotic and false.”

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