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

Otteroooo: This username may not mean anything to you, but it’s swinging (in English) on Twitter, so much so that it’s just been banned (but has returned). Otter introduces himself as follows: The crypto patriot explores everything that smells like sulfur. The otter also presents itself as a group of crypto sleuths and his Twitter account still had over 40,000 followers. After Luna, Celsius and Kucoin, it is Nexo’s turn to face very heavy burdens. Clearly a controversial figure, the vengeful otter seems to have evidence for his allegations… And in a melodramatic crypto context of mounting foreclosures, it’s imperative to stay informed, without sinking into FUD. It’s up to everyone to solve…

For 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 involve misappropriation of funds initially blamed on sick children.

After Celsius (and others), Nexo in the crosshairs

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

“In Bulgaria, the mafia is the country”
We learn that Nexo does not offer its services to Bulgarians itself

Bulgarian Corruption

We may remember the kidnapping (or escape?) of Bulgarian crypto trader, Altunbashev, a few months ago, and lots of tongues being let loose on Twitter. No, still no news from our crypto trader, but on the other hand, Bulgaria seems decidedly opaque. Of course we do not generalize, corruption can occur in all countries. Otteroooo so gives us some messages from Bulgarian citizens describing an incredible mafia imbroglio (see above). By the way, you remember the huge Ponzi a coin ? Well, it was another little Bulgarian present and the ” crypto queen » Ruja Ignatova is always sought.

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 television channel) discovers that the funds of HelpKarma, an association to help sick children, are hijacked. Let’s just say we don’t really know where they are at this stage.

First, there are characters and societies, all of which are more or less connected (and even more than less). Try to remember the names, that’s useful for the rest.

  • HelpKarma is an association that collects money for sick children.
  • The boss of HelpKarma is Konstantin Krasteva. He is also the co-founder of creditwith his cousin Kosta Kanchevi (family relationship recorded in the 2013 credissimo report). Credissimo is a loan company headquartered in Malta, which has a more favorable climate than Bulgaria.
  • We discover that Kalin Kanchevithe father of Kosta Kancheviwould have been “removed” from the board of directors of HelpKarma in March 2018. Coincidentally no doubt, it 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 offers somewhat Ponzian returns on the edges.
  • The co-founders of Nexo are Kosta Kanchevi, Georgi Shulev, Antoni Trenchev.
  • Nexo has reportedly received funding fromArrington XRP Capital. It’s probably because Natalia Karayaneva is friends (and advisor) with Arrington XRP Capital founder Michael Arrington. For the record, and without wishing to confuse you, Natalia’s husband, Petar Karayanev, the son of Vetko and Marinela Arabadjievi, has been arrested for money laundering and tax evasion (and who, according to the linked article, wanted permission to to leave prison to stand for parliamentary elections, that’s how Bulgarians have a sense of humor).

A happy bunch of friends

Antoni Trenchev (co-founder of Nexo) was a former Member of the Bulgarian Parliament and Georgi Shulev is the son of the former Bulgarian Deputy Prime Minister Lydia Shuleva, currently consultant. The 3rd friend Kosta Kanchevi, founder of both Nexo and Credissimo, is said to have mixed up the companies’ funds a bit (Credissimo’s white paper states that he feeds Nexo) and his cousin Konstantin is said to have returned money from the HelpKarma association to Credissimo because he did not seem to know what to do with it… (he is also still a shareholder of Credissimo). At the same time, if the children are finally cured, why bother returning the money to the donors? So indirectly it is Nexo who would have benefited from the funds from? HelpKarmayou follow ?

In addition, if Otteroooo associates the exchange Finblox and Georgi Shulevit is no coincidence: indeed, Mr Shulev heads a company in London called Finblox Ltd (registered in January 2021). It is a very small company that had only £6,767 in capital in January 2022. We can’t imagine it has any connection to Finblox, the Asian crypto exchange. After all, you can be a serial entrepreneur with friends, right?

An investigation by Bulgarian television

Of course we 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 extra keys (don’t pause!).

After we noticed on Crunbase.com that three people were registered as co-founders of credissimo, we discovered that there were not the same names: we find Asen Benev (also practicing within Marshall Group), Kosta Kanchevi, Sokol Jankovy (we see that Konstantin Krastev is not on the list, despite the press interviewing him at the time as CEO of credissimo). And we also find him in this article, along with one Georgi Karpuzov.

NEXO’s brain at the head of many 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 shadow who runs all these companies, an empire stretching as far as Colombia. According to Bird.bg’s media survey, the website of Nexo does not clearly indicate which legal entities are behind it, but a search in the registers shows that they are Nexo AG in Switzerland and from Nexo Inc in the United States (and also NEXO London). In Zug, Switzerland, we find Kosta Kanchev, Antoni Trenchev and another person Christian Leuenberger leaders of NEXO AG Switzerland. This company is registered as a limited liability company with a capital of 100,000 Swiss francs.

Not your keys, not your coins”

It is worth emphasizing after this exhaustive research that:Otteroooo had also warned of Voyager’s impending bankruptcy! BlockFi also seems to be in trouble, as is Hoo.com. Definitely the Twitter feed of this group of researchers is very interesting and the evidence is 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 called @not_otterooooo tries to discredit him. For example, he claims that there is a confusion between the names (note that: Kanchev is also written without t, Yankovo with an i or a Y). The otter group, having a lot of fun talking in the 3rd person, warns: remove your cryptos and put them warm in a ” cold wallet while you wait for the dominoes to all fall. And this time we can’t say we weren’t warned.

otter won’t stop because the truth dies in silence. »

I think it would be 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 was mainly in Bulgarian, it was not always easy. In order to preserve the source links, we have a backup at web.archive.org. maybe you think ” Well, what do you think of Nexo? ? “And while there is clear evidence that some of the funds have disappeared from HelpKarma, we have no control over the transfers and no legal action has been taken (it must be said that some beneficiary children had parents who worked for HelpKarma, hence the lack of complaints?)

In the meantime, you can read the intriguing tweets of the otter and his team at the link above. And improve your English by, for example, reading the news from the platform Hoo.com (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 from the Chinese side of the world. » (liquidations, bankruptcies and crazy stories also happen on the Chinese side). This is sure to be the exciting novel of the summer!

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