Otteroooo: This username may mean nothing to you, but it fluctuates (in English) on Twitter, so much so that it just got banned (but it’s back). Otter looks like this: The crypto-patriot otter investigates everything it smells sulfur. The otter also presents itself as a group of crypto-investigators and his Twitter account still numbered more than 40,000. followers. After Luna, Celsius, Kucoin, it is Nexo’s turn to face very heavy charges. Obviously a controversial figure, the vengeful otter seems to have evidence of his allegations … And in a melodramatic cryptographic context of cascading failures, it is necessary to stay informed, without sinking into the FUD. It’s up to everyone to solve …
For our part, we wanted to carry out the investigation to find out if there is an eel under the rock, especially since the allegations against NEXO concern the misappropriation of funds initially attributed to sick children.
After Celsius (and others), Nexo in the crosshairs
So far the otter (Otter) was quite well informed: that was the case with Centigrade, except for the date he gave the platform until the end of the year to go bankrupt … We all also know what happened to Terra (LUNA) … Anticipating the destruction of his Twitter account, Otteroooo tracks of all his tweets and it’s uplifting! While the last one, before the ban, said that Nexo’s founders and co-founders would have stolen funds from the crowdfunding platform HelpKarma. Already the embezzlement is illegal, but when the funds were also destined for sick children, an investigation was really essential there.
We remember the kidnapping (or the escape?) Of the Bulgarian crypto trader, Altunbashev, a few months ago, and many languages have melted 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 he thus gives us some messages from Bulgarian citizens describing an incredible mafia scam (see above). By the way, remember the huge Ponzi A coin ? Well, it was another small Bulgarian gift and the ” Cryptoregina ” Ruja Ignatova is always sought after.
We’ll try to keep it simple, hang in there: (but it’s worth it)
In 2020, a Bulgarian investigative journalist (Maria Tsentsarova, Bulgarian television channel BTV) discovers that Help Karma, an association to help sick children, are hijacked. Well, let’s say we don’t really know where they are at this stage.
First of all there are characters and companies, all more or less linked (and even more than less). Try to remember the names, it will be useful for the rest.
- Help Karma is an association that raises funds for sick children.
- The head of Help Karma is Constantine Krastev. He is also co-founder of Believe itwith his cousin Kosta Kanchev (family relationship stipulated in the highly credible 2013 report). Credissimo is a loan company whose head office is in Malta, the climate is more favorable than in Bulgaria.
- We find out Kalin Kanchevthe father of Kosta Kanchevwould be “removed” from the board of directors of Help Karma in March 2018. Coincidentally no doubt, it was also the time for the first ICO of Link.
- Link is a cryptocurrency platform that allows you to borrow money by pledging your cryptocurrency. It also offers somewhat ponzian rates of return on the edges.
- The co-founders of Nexo are Kosta Kanchev, Georgi Shulev, Antoni Trenchev.
- Nexo has reportedly received funding fromCapital of Arrington XRP. It is probably because Natalia Karayaneva is a friend (and advisor) of Arrington XRP Capital founder Michael Arrington. For the record, and without wanting to confuse you, Natalia’s husband, Petar Karayanev, is the son of Vetko and Marinela Arabadjievi, arrested for money laundering and tax evasion (and who, according to the linked article, wanted permission to get out of prison. to stand up for parliamentary elections, that’s how Bulgarians have a sense of humor).
A happy group of friends
Antoni Trenchev (co-founder of Nexo) was a former member of the Bulgarian parliament and Georgi Shulev he is the son of the former Bulgarian Deputy Prime Minister Lidia Shuleva, currently a consultant. The 3rd friend Kosta Kanchev, founder of both Nexo and Credissimo, allegedly confused company funds a bit (the Credissimo White Paper certifies that he feeds Nexo) and his cousin Konstantin returned funds from the HelpKarma association to Credissimo because he didn’t 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 healed, why bother and return the money to the donors? So indirectly it is Link who would have benefited from the funds of Help Karmayou follow ?
Also, if Otteroooo associates the exchange Finblox And Georgi Shulevit is no coincidence: in fact Mr. Shulev is the head of a company based in London called Finblox Ltd (registered in January 2021). It is a very small company that only had £ 6767 of capital in January 2022. We cannot imagine that it has any connection with Finblox, the Asian cryptocurrency 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 if our knowledge of Bulgarian is limited. We started research in the Bulgarian press. An original article in Bulgarian by the aforementioned investigative journalist gives us some extra keys (don’t hesitate to stop!).
After noting 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 (same exercising also within the Marshall Group), Kosta Kanchev, Sokol Yankov (we see that Konstantin Krastev is not on the list, despite the press at the time interviewing him as the CEO of credissimo). And we also find him in this article, together with a certain Georgi Karpuzov.
The mind of NEXO at the head of a multitude of companies: Sokol Yankov
Summary in a blog, and if you don’t have a headache: the big boss in fact would be Sokol Yankov Radostinov. So he would effectively be the man in the discreet shadow who runs all these companies, an empire that stretches all the way to Colombia. According to the Bird.bg media survey, the website of Link it does not clearly indicate which legal persons are behind it, but a search in the records reveals that they are Nexo AG in Switzerland and of Nexo Inc in the United States (and also NEXO London). In Zug, Switzerland, we find Kosta Kanchev, Antoni Trenchev and another person, Christian Leuenberger, leader of NEXO AG Switzerland. This company is registered as a joint stock company with a capital of 100,000 Swiss francs.
” Not your keys, not your currencyS “
It is worth pointing out after this grueling investigation thatOtteroooo he had even warned of the impending bankruptcy of Voyager! BlockFi also appears to be in trouble, as does Hoo.com. Certainly the Twitter feed of this group of investigators is very interesting and the evidence quite justified. Otteroooo it also shows how anonymous people (who they think are from Nexo) tried to bribe it for information (well, knowing what else to download would be more accurate). Otteroooo was banned from Twitter and a new account called @non_otterooooo tries to discredit him. For example, state that there is a confusion between the names (note that Kanchev it is also written without t, Yankov with an I and a Y). The otter group, who enjoys speaking in 3rd person, warns: remove your cryptocurrencies and keep them warm in a ” cold wallet waiting for all the dominoes to fall. And this time we can’t say we haven’t been warned.
” the otter will not stop because the truth dies in silence. “
It sounds interesting to follow Otteroooo and do your research. As for Nexo, we tried to follow the thread to understand the bonds that unite all these people, since the information is mainly in Bulgarian, it has not always been easy. In order to keep the source links, we have created a backup on web.archive.org. Maybe you are thinking ” Well, what do you think of Nexo? ? “And although there is obviously evidence that some HelpKarma sums have disappeared, but we don’t have the wire transfers in hand and there has been no legal action (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 by following the link above. And improve your English by reading for example the news from the Hoo.com platform (which would not pay 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 joins their voices to express themselves on specific topics of cryptocurrencies, investments, metaverse and NFT, trying to best answer your questions.