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Crypto lending firm Nexo threatens to take legal action against Twitter user over alleged defamatory claims

Crypto lending firm Nexo has issued a cease and desist notice in response to a series of claims made against it by an anonymous Twitter user to disparage, defame, or discredit Nexo.

A Twitter user with ID@otteroooo allegedly accused the leading crypto lending firm Nexo and its co- founders- Kosta Kantchev, Antoni Trenchev and Georgi Shulev for embezzling charity funds on June 26. According to the twitter thread, the anonymous user claimed that the founders stole charity donations for sick children and used it as personal slush funds. However, Nexo calls it “fake news”.

The blog post reads:

“Several anonymous Twitter accounts are using lies and distortion in yet another smear campaign against Nexo and profiting from short positions in a distressed market.”

Now, Nexo has responded to “fake news” and accusations made by an anonymous Twitter user against its co-founders for embezzling charity money with a public cease-and-desist notice. The firm strongly claims that the information shared by the user is fake and it is an attempt to disparage, defame and discredit Nexo.

Nexo wrote in a blog post ‘Notice to cease and desist’ about the allegations on June 26:

“You are currently engaged in malicious spreading of inaccurate, fake and unfounded information, and referring to and citing such spread by other persons, including anonymous accounts, with the sole intention to disparage, defame and discredit Nexo.”

The firm in the same post also demanded Twitter user@otteroooo to immediately delete “any comments, statements, reviews, publications, whatsoever, in the social media websites and any other public media or communication channel, disparaging, defaming, or discrediting Nexo’s reputation”. The firm stated that its legal team in US and UK is “preparing for an action to be immediately brought in court for all acts of disparagement, defamation and libel, as well as for full indemnity for the damages suffered by the firm as a result of the user’s tweets.”

According to the firm, “otteroooo” posted these defamatory statements to increase its following and then sell its Twitter account. Nexo referenced 2020 charges against Zeus Capital, an asset management firm that attempted to short Chainlink to support its claim that this is not the first time they have been a part of a “planned attack”.

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Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.


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