Nexo’s Sofia offices were raided by authorities and “foreign agents” in relation to financial crimes, according to local media outlet Standart News.
The report claims investigations into Nexo began several months ago after “foreign services” alerted Bulgarian authorities to suspicious transactions. It added that the nature of these transactions related to sidestepping Russian sanctions.
Standart News also made the claim that the company owners have appropriated users’ funds to the tune of billions of dollars.
In response, Nexo posted details of its “stringent anti-money laundering and know-your-customer policies” and brief compliance structure details. It added:
“Unfortunately, with the recent regulatory crackdown on crypto, some regulators have recently adopted the kick first, ask questions later approach. In corrupt countries, it is bordering with racketeering, but that too shall pass.“
More updates to follow as the situation unfolds.
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