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Corrupt behavior and market manipulation are not uncommon in the crypto space, and occur behind closed doors. Many powerful and ruthless people have been attracted to the crypto industry by the chance to make fast money, but they present themselves as being interested in the technology and social impact. It is difficult for those on the outside to get a clear picture, because the financial incentives created by tokens ensure that multiple voices often sing in unison with a single aim - to create a false picture that furthers the aims of vested interests.
For many industry insiders, it is advantageous to them that the crypto industry now functions like a giant casino, in which capital can be made to flow rapidly between different blockchain tokens, quite independently of the actual technologies, teams and communities involved, by leveraging snakeoil marketing, financial manipulations, cooperating parts of the crypto press, and armies of trolls and shills on social media. The insiders get to set what tokens other investors think will be hot next, after taking their own positions beforehand. They attack and undermine anything that threatens their financial interests. Freedoms afforded to these people by the relative lack of regulation have greatly undermined the workings of free markets in blockchain and crypto. We must fight back, because the next internet, web3, will be built on blockchain.
Crypto must not become an archetype of Gresham's Law, which states that "bad money drives out good", owing to the lack of regulation. That would be a travesty of everything that those who came into crypto for the right reasons, believe in. This will be a long fight, which will only be won if good actors can stay the course. We at Crypto Leaks aim to help them, by revealing wrongdoing, and showing people how corruption, and subtle behind-the-scenes manipulations, should make you think twice about everything you read and hear.
We are diehard blockchain enthusiasts, and through Crypto Leaks, we will contribute to the task of nudging our industry towards a brighter, more honest future.