Otteroooo: Twitter’s crypto balance hasn’t said its last word!

Otteroooo: This username may mean nothing to you, but it’s been trending (in English) on Twitter, so much so that it was just banned (but has returned). Otter introduces himself as follows: The cryptopatriot otter investigates anything that smells off sulphur. Otter also presents itself as a group of crypto-mirrors, and its Twitter account still had more than 40,000 followers. After Luna, Celsius, Kucoin, it’s Nexo’s turn to face very heavy charges. Obviously a controversial figure, the vengeful otter seems to have evidence for his claims… And in a melodramatic crypto context with overlapping bankruptcies, it’s necessary to stay informed without sinking into FUD. It is up to everyone to fix…

On our part, we wanted to conduct the investigation to find out if there is an eel under the rock, especially since the allegations against NEXO relate to the embezzlement of funds originally attributed to sick children.

After Celsius (and others), Nexo in the sights

Until now the otter (Otter) was quite well informed: it was the case for Celsius, except for the date, since it gave the platform until the end of the year to go bankrupt… We all also know what happened to Terra (LUNA)… In anticipation of the destruction of his Twitter account holds Otteroooo a track of all his tweets and it’s edifying! While the latter, before the ban, claimed that the founders and co-founders of Nexo allegedly embezzled funds from the HelpKarma crowdfunding platform. The embezzlement is already illegal, but when the funds were also intended for sick children, an investigation really was essential.

“In Bulgaria, the mafia has landed”
We learn that Nexo does not offer its services to Bulgarians themselves

Bulgarian corruption

We may remember the kidnapping (or escape?) of the Bulgarian crypto trader, Altunbashev, a few months ago, and many tongues have been loosened on Twitter. No, still no news from our crypto trader, but on the other hand, Bulgaria seems decidedly opaque. Of course we are not generalizing, corruption can occur in all countries. Otteroooo thus brings us some messages from Bulgarian citizens describing an incredible mafia imbroglio (see above). By the way, you remember the huge Ponzi A coin ? Well that was another little Bulgarian gift and ” The Cryptoqueen » Ruya Ignatova always wanted.

NEXO OTTEROOOO
Team Nexo (Partial)

We’ll try to keep it simple, hang in there: (but it’s worth it)

In 2020, a Bulgarian investigative journalist (Maria Tsentsarova, BTV Bulgarian TV channel) discovered that the funds for Help Karma, an association to help sick children, is hijacked. Let’s just say we don’t really know where they are at this point.

First there are characters and society, all more or less connected (and even more than less). Try to remember the names, it will be useful for the rest.

  • Help Karma is an association that collects funds for sick children.
  • The boss of Help Karma is Konstantin Krastev. He is also a co-founder of Credissimowith his cousin Kosta Kanchev (family relationship determined in the 2013 credissimo report). Credissimo is a loan company whose head office is based in Malta, where the climate is more sympathetic than in Bulgaria.
  • We discover that Kalin Kanchevthe father of Kosta Kanchevwould have been “removed” from the board for Help Karma in March 2018. Coincidentally, no doubt that was also the time of the first ICO of Nexo.
  • Nexo is a cryptocurrency platform that allows you to borrow money by pledging your crypto. It also provides some Ponzian returns on the edges.
  • The co-founders of Nexo are Kosta Kanchev, Georgy Shulev, Antony Trenchev.
  • Nexo reportedly received funding fromArrington XRP Capital. It’s probably because Natalia Karayaneva are friends (and consultant) with the founder of Arrington XRP Capital: Michael Arrington. For the record, and not wanting to confuse you, Natalia’s husband, Petar Karayanev, son of Vetko and Marinela Arabadjievi, is under arrest for money laundering and tax evasion (and who, according to the linked article, wanted permission to leave prison to stand in parliamentary elections , that’s how Bulgarians have a sense of humor).

A happy bunch of friends

Antony Trenchev (co-founder of Nexo) was a former member of the Bulgarian Parliament and Georgy Shulev is the son of the former Bulgarian Deputy Prime Minister Lydia Shuleva, currently a consultant. The 3rd friend Kosta Kanchev, founder of both Nexo and Credissimo, would have mixed the funds of the companies a bit (the white paper from Credissimo confirms that he feeds Nexo), and his cousin Konstantin would have returned funds from the HelpKarma association to Credissimo, because he did not. seems to know what to do with it… (He is also still a shareholder in Credissimo). At the same time, if the children are finally cured, why bother and send the money back to the donors? So indirectly it is Nexo which would have benefited from the funds from Help Karmayou follow?

Moreover, if Otteroooo associates the exchange Finblox and Georgy Shulevit is no coincidence: in fact, Mr. Shulev heads a company based in London called Finblox Ltd (registered January 2021). It is a very small company which had only £6767 in capital as of January 2022. We cannot imagine that it has any connection with Finblox, the Asian crypto exchange. After all, you can be a serial entrepreneur with friends, right?

A survey conducted by Bulgarian TV

We naturally wanted to know more, even though our knowledge of Bulgarian is limited. We have started research in the Bulgarian press. An original article in Bulgarian by the aforementioned investigative journalist gives us some additional keys (don’t hesitate to pause!).

After noticing on Crunbase.com that three people were registered as co-founders of credissimo, we found that there were not the same names: we find Asen Benev (he himself also practices in the Marshall Group), Kosta Kanchev, Sokol Yankov (we see that Konstantin Krastev is not on the list, despite the fact that the press at the time interviewed him as the CEO of credissimo). And we also find him in this article together with a certain Georgi Karpuzov.

NEXO’s brain at the head of a large number of companies: Sokol Yankov

Summarized in a blog, and if you don’t have a headache: the big boss would actually be Sokol Yankov Radostinov. So he would actually be the man in the discreet shadows running all these companies, an empire that even extends as far as Colombia. According to Bird.bg media survey, the website for Nexo does not clearly indicate which legal entities are behind it, but a search of the records reveals that they are Nexo AG in Switzerland and off Nexo Inc in the USA (and also NEXO London). In Zug, Switzerland, we find Kosta Kanchev, Antoni Trenchev and another person Christian Leuenberger managers of NEXO AG Switzerland. This company is registered as a limited company with a capital of 100,000 Swiss francs.

Not your keys, not your coins”

It is worth emphasizing after this exhaustive studyOtteroooo had also warned of Voyager’s impending bankruptcy! BlockFi also seems to be in trouble, as is Hoo.com. The Twitter feed of this group of investigators is certainly very interesting and the evidence quite substantiated. Otteroooo also shows how anonymous people (who they think are from Nexo) tried to bribe him for information (well, knowing what else to dump would be more accurate). Otteroooo has been banned from Twitter and a new account named @not_otteroooo trying to discredit him. He claims, for example, that there is a confusion between the names (note that Kanchev is also written without t, Yankov with an i or a Y). The Otter Group, which has fun talking in the 3rd person, warns: Remove your cryptos and put them warm in a ” cold wallet while they wait for the dominoes to all fall. And this time we can’t say we weren’t warned.

otters will not stop because truth dies in silence. »

It seems interesting to follow Otteroooo and do your own research. As for Nexo, we tried to follow the thread to understand the links that unite all these people, the information being mainly in Bulgarian, it was not always easy. In order to keep the source links, we have created one backup at web.archive.org. Maybe you’re thinking ” Well, what do you think of Nexo? ? “And while there is obviously evidence that some HelpKarma money has gone missing, we don’t have the transfers in hand and there has been no legal action (it should be said that some child recipients had parents who worked for HelpKarma, hence the lack of complaints?)

In the meantime, you can read the exciting tweets from the otter and his team by following the link above. And improve your English by, for example, reading the news from the Hoo.com platform (which would not have paid its employees in June). Impatience is at its peak when you read this: Liquidations, bankruptcies and crazy stories also come out of the Chinese side of the world. » (liquidations, bankruptcies and crazy stories also happen on the Chinese side). This will undoubtedly be the exciting novel of the summer!

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The Cointribune editorial team unites their voices to express themselves on topics specific to cryptocurrencies, investing, the metaverse and NFTs, while striving to best answer your questions.

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