NEXO (NEXO)
NEXO (NEXO)
$1.03 (2.16 %) View coin
News
27 Jun 2022

Nexo threatens legal action against anonymous Twitter account

Nexo threatens legal action against anonymous Twitter account

Crypto lender Nexo has issued a cease and desist letter in an effort to silence an anonymous Twitter account.

The account, which styles itself in the third person as ‘Otter,’ published a series of tweets on June 26 claiming that Nexo’s co-founders had stolen funds from a charity. The tweets have generated thousands of likes and retweets.

Later the same day, Nexo published two items on its website — one of them a cease and desist letter taking aim at the Twitter account, the other a blog post that seeks to debunk some of the claims made by Otter.

The exchange comes at a moment of high tension for crypto lenders. Several large lending firms — notably Celsius and Babel — have halted withdrawals. Rival lender BlockFi got a $250 million bailout in the form of a revolving credit facility from FTX, the exchange, on June 21.

Nexo, which offers interest rates of 18% on crypto holdings, claims to serve more than four million customers. It has over $12 billion in assets, according to its website.

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