Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Nexo Accused of Embezzlement on Twitter – Company Claims It’s Fake News

Cryptocurrency Jun 27, 2022 11:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Nexo Accused of Embezzlement on Twitter – Company Claims It’s Fake News

Crypto lending platform Nexo encourages customers to “go from zero to crypto in seconds” with offerings of over 40 digital assets that traders can hold or borrow. Last week, Nexo sent a buy-out proposal to Celsius, the crypto exchange which caused untold turmoil in the industry when it denied customers the ability to claim payouts. Now the tables have turned, as a self-proclaimed insider decided to rock the boat at the Switzerland-based crypto lending platform.

Twitter account @otteroooo shared the shocking story of how Nexo’s three Bulgarian co-founders stole from a charity fund for sick children, and instead used it as their personal slush fund. The mysterious accuser claims that Nexo is a daughter company of Credissimo, a company which Nexo’s white paper makes reference to exactly 32 times. Credissimo is a payday loan company operating in Bulgaria, and has been under suspicion of embezzlement in an investigative case.

The anonymous Twitter (NYSE:TWTR) detective elaborated on the story of the 2020 scandal relating to Bulgarian children’s charity group HelpKarma. Apparently, Kanchev’s father, Kalin, was on the charity’s management board, which indicates a conflict of interest. The embezzlement case made waves back in 2018.

The Other Side of the Story

A spokesperson for Nexo claims that @otteroooo contacted the company in order to sell the account to them, complete with each of the published accusations, as ransom. Nexo has since published a breakdown of the, what they have labelled, “fake news” with a step-by-step guide on the psychological manipulation in the aforementioned mysterious insider’s tweets.

The Nexo representative reinforced that such accusations out of the blue do “collateral damage to the entire crypto market”, and emphasized that the accuser had mistaken the identity of the charity’s co-founder. According to Nexo, the co-founder at the time of the scandal was Constantine Krastev, which his LinkedIn profile affirms.

Ultimately, the author of the shocking tweets may end up hit with a defamation lawsuit, and Nexo indicated that they would be issuing a cease and desist letter once the author’s real identity is revealed.

On the Flipside

  • Nexo offered Celsius a buy-out offer spanning 7 days.
  • Nexo is set to launch the first-ever crypto card in partnership with Mastercard (NYSE:MA).

Continue reading on DailyCoin

Nexo Accused of Embezzlement on Twitter – Company Claims It’s Fake News
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
bad karma
bad karma Jun 27, 2022 11:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
these guys are definitely scammers. i am from bulgaria and people know about these guys and how they ripped off the childrens charity but the Nexo guys have political connections and are connected to our old corrupt politicians so they got away.  Avoid Nexo like a disease!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email