Happy Holidays and Merry Christmas!
We are in high spirits as we close out this year of restructuring and new alliances. YieldNodes Pro heads into the New Year in good form.
Rebuilding means holding those accountable who irresponsibly made false accusations against YieldNodes and wronged us and our participants (you).
In 2023, Chainalysis, Inc. baselessly claimed in a widely distributed report it used to market itself to governments that YieldNodes was a scam.
They never tried to contact us before publishing their report, and when we tried to contact them to discuss their report, all they did was direct us to their sales representatives and try to sell us licenses for their software. Relying on Chainalysis, exchanges that defer to Chainalysis’ purported expertise stopped processing deposits and withdrawals.
And as far as we can tell, they never tried to do any real investigation. Instead, they did what they seemed best at – putting marketing ahead of reliability. Recently, it’s become public that they have no scientific, peer-reviewed evidence for the accuracy of their primary product – Chainalysis Reactor – and have seemingly never bothered to assess its accuracy despite aggressively marketing it globally to law enforcement and government regulatory agencies.
Chainalysis’ methodology isn’t going unchallenged, however, as skepticism mounts over their emphasis on profits over truth:
Recently, one of Chainalysis’ experts testified on cross-examination in federal court that they don’t know the statistical error rates for Chainalysis Reactor and that Chainalysis had never analyzed it.
Learning this, we decided to hire the lawyer who did that cross-examination – Tor Ekeland of Tor Ekeland Law PLLC in New York City. He’s been representing clients in computer cases for over a decade and is best known for representing hackers and white-collar defendants in federal criminal court and on appeal. Tor also counsels businesses and individuals under investigation by the United States Department of Justice and those needing counseling on U.S. and international computer laws.
You can read more about Tor here: https://www.torekeland.com/
After reviewing the case, Mr. Ekeland is ready to take up arms and fight the good fight on our behalf. He is preparing a lawsuit against Chainalysis that we plan to file this January.
We’ll update you in January and keep you in the loop as things progress.
Happy New Year! We look forward to working with you in 2024!
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