IIUC this should be fine - MemoryChunk doesn't seem to deallocate the memory (so we leak), unless there's a dealloc somewhere (sorry, not logged in to GH so cannot search). Which is not the worst outcome here, because as you said, we don't want to deallocate this memory since there may be places that still refer to it...
As for where the static lifetime gets into play, VM creation doesn't use unsafe & compiler is happy about it, even though ISTM that there could be a tighter bound on the lifetime? https://github.com/andreabergia/rjvm/blob/93e7e48db085e780b0...