A Twitter user under the pseudonym Otteroooo posted a thread accusing Nexo’s co-founders of stealing funds from a charity. The crypto lending platform threatened him with legal action.

NEXO FOUNDER AND FAMILY USED DONATIONS AS PERSONAL SLUSH FUND FOR SICK CHILDREN, BUILDING A PALACE FOR THEM

Evidence presented in full by the otter below

no boono!

🦦 👇🏼 🧵 🦦

– otteroooo (@otteroooo) 26 June 2022

In a series of tweets, otteroooo pointed out that Nexo was founded by Costa Kanchev, Antoni Trenchev and Georgy Shulev. The author noted his links with the Bulgarian microfinance institution Credissimo.

All three of our well-connected Nexo co-founders were also Directors at Credissimo, Bulgarian boys

Source: Nexo whitepaper pic.twitter.com/1VkV6UfHMt

– otteroooo (@otteroooo) 26 June 2022

The user referred to the investigation of Bulgarian journalists – they found that in 2020 donations from the children’s charity Help Karma were misused. According to journalists, before that Kosta Kanchev’s father was on the organization’s board of directors. The author of the thread drew parallels with dating and Nexo’s first ICO.

What @BIRDbg2 Discovered in March 2018, father of Kosta Kanchev (Bulgarian child 1), Kalin Kanchev appointed to the Board of HelpKarma

Coincidentally, March 2018 was when Nexo’s first ICO was held.

– otteroooo (@otteroooo) 26 June 2022

Otteroooo linked to another research report that allegedly revealed the link between Help Karma and Credissimo.

It’s getting worse, it’s getting much worsehttps://t.co/QtO9J8708B Another investigative news source in Bulgaria has found that as HelpKarma’s donations increase, Credissimo and CredissimoSuper (same shareholders) are starting to report large increases in equity!https : //t.co/q7Tdrwjltr

– otteroooo (@otteroooo) 26 June 2022

At the time of writing, the headline’s first tweet has over 4,000 likes and 1,500 shares. According to Otteroooo’s account information, it was created in March 2022.

In response, Nexo representatives issued a rebuttal, calling the posts a “smear campaign” against the platform. The firm did an analysis of the issue and also noted inconsistencies, including confusion with names and persons.

According to Nexo, one of the purposes of the thread is to achieve financial gain. As confirmation, it showed a correspondence screen with otteroooo, where an unknown user claimed to have offered the account holder a deal to purchase an account.

Along with the rebuttal, the platform threatened to sue the user and demanded the removal of “all comments, disclosures, reviews and posts” that damaged its reputation.

“Please note that we always protect our rights and interests by all available legal means and that our legal advisers in the US and UK are currently preparing an immediate in-court case for all cases of humiliation and defamation,” the statement said. .

The matter comes amid ongoing issues with the crypto lending platform Celsius Network. On June 13, the firm suspended withdrawals, clearing and transfers between accounts “due to extreme market conditions”. On the same day, Nexo announced that it is ready to buy its loan portfolio from its competitors.

In addition to Nexo, Chaine Finance and Goldman Sachs are involved in Celsius assets. Simon Dixon, co-founder of online investment platform BnkToTheFuture, proposed a plan to save the lending service and then turned to Nexo to contact his team. He emphasized that the parties can offer the best solution together.

Recall that in June, Nexo CEO Antoni Trenchev compared the crisis in the crypto market to the banking panic of 1907 and noted that more successful players had to come to the aid of their colleagues to prevent the industry from collapsing.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.