March 28, 2024

Nexo denies accusation of embezzling donations to a children's fund

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Nexo denies accusation of embezzling donations to a children's fund

Lending platform Nexo, in response to accusing a Twitter user of embezzling funds for charity, warned that it couldto bring the slanderer to justice.

Otteroooo published a series of messages alleging that the founder of Nexo and members of his family were siphoning off funds from HelpKarma, a charity that protects the health of children in Bulgaria.Nexo representatives allegedly used the donations to buy real estate and fund "lavish personal travel."Otterooooo clarified that Nexo has raised assets from Arrington XRP Capital, which previously invested in Terra Luna, the Chai payment app, and the Terra Anchor-based DeFi protocol.

Otteroooo suggested that Arrington XRP Capital founder Michael Arringtoa could have profited fromdonations intended for sick children, and advise "Nexo, Credissimo or HelpKarma in this shady operation".Most of the accusations are centered around Konsta Kanchev, who, according to a Twitter user, is the founder of HelpKarma and Nexo.However, in reality, the co-founder of Nexo is Kosta Kanchev, and the founder of the charity is Konstantin Krastev.

All of this is just a "set of ridiculous accusations," Nexo said.Otteroooo was accused of a smear campaign against Nexo and profiting fromThe company insists that the Twitter official took advantage of Nexo's predicament when the sectorcrypto lending has been hit hard by the downturn in the market.use any lawful means against "defamatory statements and false statements" spread through Twitter.

The crypto lender stated that Otteroooo intentionally combined the two names as a pretext for fact-checking.Nexo and the Bulgarian non-profit charity accused of wrongdoing have noand never had common operations, common beneficial owners or common management, Nexo said.

In March, the founder of the Tron project denied accusations of illegal activity and said that he was ready to prosecute the author of the exposé publication in The Verge for libel.