Nexo Crypto Lender - 880 Bitcoins & other Assets Frozen - video Dailymotion

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Nexo Crypto Lender - 880 Bitcoins & other Assets Frozen

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00:00welcome back to decentralized news in today's video we're looking at uh a crypto lender nexo

00:06and uh the controversy that's going on with one of their former co-founders uh so nexus former

00:13director joji shulev is said to be refusing to comply with a settlement agreement to transfer

00:20crypto assets according to the lender so this gentleman uh shulev is said to have terminated

00:28uh his uh employment in 2019 and nexo are still battling over a corporate account the account

00:35was frozen because shulev tried to access it after his exit so give us a like and a subscribe

00:42and i really appreciate it so nexo seemed to be one of the only lenders that wasn't having

00:48any kind of uh issues even sort of hinting at wanting to acquire some of the ailing crypto

00:54lenders that we've seen fold lately but of course they have their own skeletons in the closet

01:00obviously this is a story where the london-based cryptocurrency lender is pursuing legal action

01:05against a former director who claimed partial ownership of an account that the company claims

01:10holds corporate assets nexo asked a uk high court on wednesday which is today to pretty much

01:18uh um order him to transfer nine different types of cryptocurrencies including bitcoin and ether to

01:25the company as part of a july settlement agreement under that agreement shulev himself is said to

01:32receive one million in usdt and nexo tokens over five installments the crypto lender also claims that

01:40he has been locked out of his corporate account at a time when crypto asset prices have plunged losses

01:46pertaining to the assets held in the account stand at about 7.9 million according to the lawsuit

01:52and nexo and shulev have been battling over this account estimated to hold about 880 bitcoin since

01:59his position was terminated just in september 2019 the company also claims the account is used for

02:05corporate purposes while the former director argues it opened or he opened it for personal reasons and

02:11claims ownership of some of its crypto assets should have also accessed that account even after he was

02:18removed by the board and the ally uh but you know they alleges that you know you only opened it using

02:24his work email out of convenience according to a court filing so nexus claim now states that uh it's being

02:32deprived of access to the account and that the market is now tanked and assets have fallen in value

02:38significantly and uh that uh you know they've been locked out of this account and the lender is

02:43entitled to claims and damages for the breach according to them and this is uh to be evaluated

02:49um in the accounts uh base currency us dollars according to the claims and so we just have to

02:58kind of figure out why was the actual uh disputed account blocked i mean on the day that he was fired

03:04apparently nexus board uh revoked his access to both corporate email and accounts especially this

03:10account in question which opened uh um which is actually opened with the platform bitmix and the

03:15next day he made a futile attempt to access the account from his home ip address on september 15

03:23he contacted the hdr global bitmix's operator requesting a change of email address to say he was no

03:28longer the owner of the old id and believed his funds could be stolen nexus head of trading however

03:35had warned the custodian shuliv might have tried to siphon away funds and hdr froze their account

03:43and asked the high court to work out who the rightful owner was so the settlement agreement is

03:47said to still be in limbo after he uh was asked to return these assets uh about nine cryptocurrencies in

03:54total he allegedly uh indicated an unwillingness to do so prior to making uh or to nexo making its

04:00first installment uh payment transferring the entire amount of the assets at the moment to nexo

04:06and simply sharing the comfort uh of only being able to receive part of the compensation after nexo

04:11not complying with the agreement is a first step on their side does not provide me with comfort

04:17that they will comply and provide the rest of the settlement this is what he's telling the courts but

04:21the settlement agreement actually requires that both sides inform hdr that the dispute was over

04:26once the transfer of assets was completed and the situation is now in a deadlock shulev is refusing

04:31to comply he also refused to waive his rights and claims to the disputed bitmix account uh and also

04:39uh this is uh still something that is uh ongoing and nexo has decided to not comment on this but just

04:46so you know there is uh that story going on with nexo i doubt that that amount would really cause too

04:54much of a problem for them but of course still a significant amount of money especially if it is

05:01880 bitcoins and a whole lot of ethereum and whole other different assets let me know what your

05:06thoughts are don't forget to check out links in the description also if you want to check out a full

05:10review of nefo or nexo platform i've used nexo uh quite a few times to be honest i did pull out my money

05:16out of the nexo after i saw all the other lenders having trouble and currently i'm not uh putting

05:22any money in any of these tradefi lending platforms uh at the moment at least so that's where i stand

05:30with that but uh good platform nonetheless and uh hasn't had any major issues to date so like share

05:36subscribe turn on the notifications go check out the links in the description go join our telegram

05:40in our discord server and also make sure you subscribe peace

Nexo Crypto Lender - 880 Bitcoins & other Assets Frozen

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