Crypto loan Nexo fights against former co-founders
Crypto loan Nexo fights against former co-founders
- Shulev, which was released from his position in 2019, and Nexo argue about a company account
- The account was frozen because Shulev tried to access it after his exit
The cryptocurrency loan Nexo based in London introduces legal steps against a former director who claimed to be partly owner of an account that the company claims to hold corporate assets.
nexo applied for on Wednesday from a British High Court, A Law360-report Georgi Shulev to be commissioned, nine types of crypto drives, including Bitcoin and ether, to the company to be transferred to the company as part of Comparative agreement in July .
As part of this agreement, Shulev should receive 1 million USD in USDT and NEXO tokens over five installments.
The lender claims that he was locked out his company account at a time when the cryptoasset prices fell. The losses in connection with the assets held in the account amount to around $ 7.9 million, according to the lawsuit.
nexo and shulev have fought for the account since the end of his position in September 2019, which contains an estimated 880 Bitcoin. The company claims that the account is used for corporate purposes while the former director argues that he has opened it in a personal quality and claims ownership of some of his cryptoassets.
Shulev accessed the account even after it has been removed by the board, however, claims that he only opened it out of "convenience" with his work email, so a court files .
The Nexo's claim now states that he is "withdrawn" access to the account and that the market value of the assets during the time in which it was blocked has decreased considerably.
The lender is "justified and demands compensation for the violation", which is assessed in the basic currency of the account, US dollar, according to the reported claim.
Why the controversial account was blocked
On the day of his release, the board of Nexo Shulev revoked access to his company email and the account in question, which was opened at the Bitmex trading platform.
The next day he made a unsuccessful attempt to access his private IP address to the account.On September 15th, Shulev HDR Global-the operator of Bitmex-asked and asked for a change in the email address to tell that he was no longer the owner of the old ID and believe that his money could be stolen.
The Nexo trade manager, however, had warned that the custodian shulev could try to "skim money". HDR frozen the account and asked the high court to find out who the lawful owner was.
comparison agreement in the suspension
After Shulev was asked to return the nine classes of cryptocurrencies, he allegedly indicated that he did not want to do this before Nexo made his first installment payment.
"To transfer all the assets to Nexo at the moment and simply share the comfort, to only be able to maintain part of the compensation, after Nexo has not complied with the agreement, as the first step in turn, do not comfort me to the descendants and the rest of the comparison," he told the court.
The comparison agreement, however, required both sides to inform HDR that the dispute has ended as soon as the transfer of assets was completed. The situation has now been stuck and Shulev still refuses to stick to it.
He also refused to do without rights and demands on the controversial Bitmex account-a further determination of the July agreement.
"Shulev, the nine assets from Nexo, its rightful owner, have wrongly withheld and keep this," said the company.
nexo refused to comment on the matter, while Shulev could not be contacted.
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The contribution Crypto Lender Nexo Battles Former Co-Founder is not a financial advice.