Nexo Finance Allegedly Behind “FUD” Chainlink Report to Short $LINK 99%

A 59-page report titled “The Chainlink Fraud Exposed” from a barely known asset manager, Zeus Capital last week claimed that the company is building a Chainlink (LINK) short position targeting 99% gains from the altcoin.

The company spread fear, uncertainty, and doubt about LINK’s future calling the project “crypto’s Wirecard,” and predicting that the price will decline from its recent all-time high to around $0.07 within an unspecified timeframe.

One week later, fresh evidence now circulating on Twitter has linked Zeus Capital to the crypto lending company, Nexo Finance. In other words, it is alleged that Nexo Finance is behind the malicious report attempting to discredit the Chainlink project as one that its price will plummet in the future.

The price of Chainlink (LINK) has remained relatively stable despite the report, trading at $7.90 at press time, a mild 2.60% gain on the weekly chart according to data from CoinMarketCap.

Chainlink 7-day performance

Chainlink (LINK) 7-day chart

Nexo Finance linked to Zeus Capital FUD Chainlink report

The evidence against Nexo Finance includes a faulty URL linking to Nexo’s Head of Digital Assets Research, Simeon Rusanov. There are also several instances on the Zeus Capital website source that shows the company using a Typeform code associated with Nexo Finance.

It is worth noting that although Nexo’s Typeform link is in the public domain and can be easily copied by anyone, the use of the link for ousting a crypto-related project was likely done either by error or with the intention of implicating the company.

TypeForm on

Nexo Finance Chainlink FUD

Typeform on (Image Credits: ChainlinkGod Twitter)

Lastly, a discussion on 4Chan from Nexo users suggests that emails used to sign-up on the crypto lending platform received the report from the “FUD” report from Zeus Capital, while users not linked to Nexo in any way didn’t get the report.

Nexo Finance Responds to Chainlink FUD Allegations

Antoni Trenchev, Nexo’s Co-founder and Managing Partner commented on the allegations against the company in an extensive response on their Telegram Channel. Among the primary concerns, he expressed include that “Nexo has nothing to do with [the FUD] and its author is trying to insinuate such a connection through false flag stuff that Nexo is somehow involved.”

He continued:

“Nexo is a huge fan of ChainLink and LINK, and all that Sergey is doing for the blockchain space. Our teams communicate with Sergey on a regular basis, including yesterday, and worked for months to research and add LINK as an asset on the Nexo platform for both Borrow and Earn. We further did not spare funds and efforts to do a full-blown PR and marketing campaign for the announcement as you have probably seen. I would personally like to think that Nexo has actually done its part in helping LINK’s price lately.”

Regarding the alleged Typeform link used by the person(s) behind Zeus Capital, Trenchev admitted that “the Typeform in question (now taken down from the “fund” website) is indeed Nexo’s and during the past years has been used on thousands of occasions by our team for all kinds of marketing purposes to collect emails on various landing pages from consenting users. The form’s code and URL were accessible by anyone and they could have been copied and pasted by any of its millions of recipients or visitors.”

Nexo has now hired a forensics firm to investigate the development. Also, Chainlink had published a statement on its Reddit channel saying among other things that “Chainlink’s conclusion on facts and are aligned with Nexo in uncovering who is actually behind this misinformation campaign.”

UPDATE: We have updated this article to include official comments from Nexo regarding the allegations. This includes the company’s statement that the person(s) behind the Zeus Capital misinformation is only using the popular false flag tactic by hackers “to suggest Nexo is somehow involved.”

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