To put an anonymous Twitter account on hold, cryptocurrency lender Nexo has sent a stop and desist notice.
On June 26, a series of tweets from the account, which uses the third person pronoun “Otter,” claimed that the co-founders of Nexo had stolen money from a charity. Thousands of people liked and retweeted the tweets.
Later that day, Nexo posted two pieces on its website: one was a stop and desisted letter that targeted the Twitter account, and the other was a blog entry that attempted to refute some of Otter’s assertions.
The swap takes place when cryptocurrency lenders are under a lot of stress. Withdrawals have been stopped by many significant lending institutions, most notably Celsius and Babel. On June 21, the exchange, FTX, provided rival lender BlockFi with a $250 million rescue package in the form of a revolving credit line.
With over four million users, Nexo boasts interest rates of 18% on cryptocurrency holdings. According to its website, it has assets worth over $12 billion.