Avalanche Bridge mixes in $300M of North Korean and other tainted crypto
Ava Labs operates the "Avalanche Bridge," which takes custody of crypto assets deposited by users, and creates a wrapped copy on the Avalanche blockchain, where they can be used in its DeFi systems. The bridge uses centralized trust, and Ava Labs is legally responsible for the pool of assets it maintains. For reasons we explore, it has become a primary mechanism that enables the laundering of North Korean, Russian spy, and other tainted assets. The public blockchain data highlighted in this case suggests that almost $300M of assets from such sources, which are often stolen, being deposited into the bridge.
It is unknown how much of this still remains within the pool of assets that Ava Labs maintains for the bridge. In current times, when government regulators and enforcers are looking hard at crypto, it is not knowable whether authorities may wish to seize this pool of assets and/or initiate enforcement proceedings against Ava Labs and its centralized systems. In the mean time, honest retail investors using Ava Labs' centralized bridge, may unwittingly receive tainted assets in place of those they deposited, potentially subjecting them to loss or the inability sell them.
This case does not share spy video. Instead, we focus on the detailed tracing of assets from North Korean hackers, Russian spies, and others into the Avalanche Bridge.
Ava Labs (Avalanche) uses fake "astroturf" accounts to sell AVAX tokens, slander rivals, and fool its community
Ava Labs operates a highly organized and massive secret bot and trolling army that distorts social media discourse by using fake people to parrot messages that help their cause en masse — to encourage the purchase of AVAX tokens, amplify falacious themes, insert fake consensus into their own community, and relentlessly slander rivals.
In our new spy video, a conversation with a leading ex-engineer who worked at the heart of Ava Labs reveals the nature of their operations, including their use of "astroturf" social media accounts. We additionally peform deep empirical analysis — and share the data — that reveals the true scale of their bot army, and the nature of its activities.
Why Sam routinely manipulated token prices using FTX and Alameda
Sam took a tremendous gamble stealing customer assets deposited into his FTX crypto exchange, and then investing them into the ecosystems of blockchains he held major stakes in, crooked loans to himself, and influence peddling: he had to make sure he made the money back eventually, or face the law. A key part of his strategy was to use the power afforded to him through FTX, and his Alameda Research hedge fund and market maker, to widely manipulate token prices so that he could 1) make extra illicit trading profits, and 2) harm blockchains that competed with his investments.
Our new spy video captures a conversation with the Head of Settlements at FTX.US, who confirms goings on, and gives a sense of the full corruption that was occurring at the heart of Sam's empire. She also opines on why Sam claims FTX.US was solvent, perhaps explaining the massive transfer of funds from FTX International to FTX.US just after he was arrested.
Ava Labs (Avalanche) attacks Solana & cons SEC in evil conspiracy with bought law firm, Roche Freedman
Ava Labs is the for-profit company that develops and promotes the Avalanche blockchain. It is led by founder and CEO, Emin Gün Sirer. Roche Freedman is a law firm that widely sues organizations and individuals in crypto, including using several dozen class actions. It is led by founding partner, Kyle Roche. Ava Labs entered into a pact with Roche Freedman, after giving their key executives AVAX tokens and Ava Labs stock now worth hundreds of millions of dollars.
According to Kyle Roche himself, this aligned them in an aim to increase the value of AVAX, and is behind an ongoing conspiracy to use the legal system to harm Ava Labs competitors, share "expertise" gleaned from confidential information obtained through legal discovery processes, pursue the personal vendettas of Emin Gün Sirer himself, and con regulators by directing them towards other projects and away from themselves. Emin's own lawyer Kyle Roche does all the talking in shocking spy videos...
How The New York Times promoted a corrupt attack on ICP by Arkham Intelligence
On June 28th, 2021, Arkham Intelligence published the "ICP Report," which essentially claimed that the Dfinity Foundation, which contributes technology to the Internet Computer blockchain, executed a "rug pull" after the network underwent genesis. They claimed that they had not been paid to produce the report. Both this claim, and the claims of the report, were false.
The report was published in concert with The New York Times newspaper, causing billions of dollars in damages to holders of the Internet Computer's native token, ICP, and harming its ecosystem and community. We investigate what was behind the report. The evidence collected reveals the shocking extent of The New York Times culpability, and how mainstream media has been dragged into crypto corruption.
Were attacks on ICP initiated by a master attack — multi-billion dollar price manipulation on FTX?
May 10th, 2021, the Internet Computer blockchain underwent network genesis. This made its ICP governance token transferrable and it became available on spot markets hosted by crypto exchanges. In early trading, the fully-diluted market capitalization of ICP exceeded $200 billion. However, those purchasing ICP were unaware that its initial price had been dramatically inflated using the ICP-PERP futures instrument on the FTX crypto exchange. Once the price manipulation ceased, the price of ICP began a dramatic fall. This fall damaged the reputation of the Internet Computer and triggered other attacks that made the falls self-reinforcing. This caused tens of billions of dollars damage to the Internet Computer ecosystem and ICP token holders.
Our report investigates goings-on, and examines possible motives for the price manipulation, including whether it might have been used to disrupt the Internet Computer ecosystem to pave the way for Solana, and deliver billions of dollars in extra capital gains to holders of its SOL token. Sam Bankman-Fried has the trading logs for ICP-PERP in his possession, which must be shared to reveal who was behind the manipulation.