A Twitter account that goes by the name of “@otteroooo” recently accused Nexo of embezzling funds entrusted to a charity. The digital asset financing company rubbished the claim.
According to otteroooo’s twitter thread, Kosta Kanchev (Co-founder of Nexo) took away funds illegally from HelpKarma. Kanchev was placed as an executive on the crowdfunding charity platform. He then siphoned money off the charity to construct a huge palace-like mansion for himself, the tweet alleged.
A Case of Confused Identity
Representatives of Nexo rebutted to the allegation, calling it a case of misplaced identity. As per Nexo, the name of their co-founder is not Kosta Kanchev. The correct name of the co-founder is Constantine Krastev.
According to news sources, Nexo has filed a cease-and-desist notice against the Twitter identity. However, the Twitter profile otteroooo says they have not personally received any such notice by Nexo’s team.
An Offer to Purchase otteroooo’s Profile
The same Twitter sources also alleged that Nexo’s PR representative offered to buy otteroooo’s profile on Twitter. As per the Twitter presence, Nexo intended to spread negative tweets about competitors through otteroooo’s Twitter profile.
A spokesperson from Nexo refuted this claiming no affiliation to the twitter account which interacted with otteroooo. Instead, the spokesperson said they heard news of otteroooo wanting to sell his Twitter profile to Nexo, not the other way around.
Nexo’s spokesperson also added that the anonymous Twitter account contacted otteroooo mostly to prevent the spread of FUD. This would have otherwise dealt collateral damage to the whole digital asset industry.