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Nexo on Sunday dismissed recent allegations of fraud against the crypto lender, calling them “fake news.” The firm also issued a “Cease and Desist” notice on its website.
Nexo’s response was directed at Twitter user @otteroooo, who over the weekend made allegations of fraud against Nexo and its founders. Otteroooo alleged that Nexo’s founders had funneled illicit funds into the firm from a Bulgarian charity.
In a blog post, the firm called the accusations an obvious “smear campaign,” and noted several inconsistencies in Otteroooo’s accusations.
But Nexo was criticized on social media over publicly posting the cease and desist notice. The crypto lender’s native token, NEXO, fell about 5% to $0.6782 in the past 24 hours.
Nexo denies fraud, reiterates financial stability
The crypto lender denied any links to the alleged Bulgarian charity, and said Otteroooo’s allegations were likely motivated by financial gain. It stated that its finances were in order, and that it was at no risk of
