Backblaze strongly denies all the allegations, and claims instead that Morpheus is attempting to manipulate its stock price for financial gain. The firm admits to holding short positions in Backblaze shares.
Not saying that the Morpheus report isn't true, but that's a pretty damning conflict of interest.
https://www.theregister.com/2025/04/29/backblaze_sham_accounting_claims/
Not saying that the Morpheus report isn't true, but that's a pretty damning conflict of interest.