Crypto Lender Nexo Denies Fraud, Issues Cease And Desist Notice
Cryptocurrency Lender
Modified Date:- Published Date:-Categories: Cryptocurrency
Nexo on Sunday dismissedrecent allegations of fraud against the cryptocurrency lender, calling them"fake news." The firm also issued a "Ceaseand Desist" notice on its website. Nexo's response wasdirected at Twitter user @otteroooo, who over the weekend filed fraudallegations against Nexo and its founders. Oteru alleged that the founders ofNexo had siphoned off Bulgarian charities into the firm.
The crypto lender denied any links to the alleged Bulgariandonation, and said Oteru's allegations weremotivated by financial gain. It said its finances were in order, and that itwas not at risk to Nexo, saying the allegations were aimed at capitalizing on aseriously weak market, and were likely motivated by traders with shortpositions.
Oteru's allegations came amid difficult times for cryptolenders, following a lack of liquidity in the operations of several players.Celsius and Babel Finance have recently suspended withdrawals, with the formerlikely to file for bankruptcy. Like Voyager Digital, Peer BlockFireceived a $250 million bailout from FTX. Both lenders recentlyhad three . was brought in contact with arrow capital recession. Nexo recently offered to buy the remainingassets of Celsius. Reports state that the firm plans to strengthen the cryptomarket with more acquisitions.
Crypto Lender, BlockFi, Cease, Desist, Bulgarian charities, Crypto Market, Voyager Digital, Celsius, FTX, Babel Finance, Bankruptcy