Nexo offices reportedly raided by police in Bulgaria

[Gunnar Larson]

https://cointelegraph.com/news/nexo-offices-reportedly-raided-by-police-in-bulgaria


Troubled cryptocurrency lender Nexo is facing more pressure from regulators
as its offices have been reportedly raided as part of an international
investigation.

Advertisement
Stay safe in Web3. Learn more about Web3 Antivirus →
A group of prosecutors, investigators and foreign agents started searches
of Nexo’s offices in the Bulgarian capital, the local news agency Standart
reported on Jan. 12.

The operation was reportedly initiated a few months ago, targeting a
large-scale financial criminal scheme allegedly involving money laundering
and violations of international sanctions against Russia. Citing sources of
the Bulgarian National Television, the report alleges Nexo’s involvement in
the scheme.

The television also highlighted Nexo’s alleged ties with the government of
Bulgaria, specifying that Nexo was co-founded by former parliament member
Antoni Trenchev and Georgi Shulev, the son of former deputy prime minister
Lydia Shuleva.


Cast your vote now!
Nexo was quick to react to the latest news, taking to Twitter to assure the
public that the company has been compliant with global crypto regulations
and has enforced strict Anti-Money Laundering and Know Your Customer
policies.

Related: Sanctions couldn’t ‘pull the plug’ on Tornado Cash: Chainalysis

“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,” Nexo wrote.


Founded in 2018, Nexo operates a cryptocurrency investment platform, also
allowing users to stake and borrow against crypto. The firm first
encountered issues in the United States last year, with the California
Department of Financial Protection & Innovation filing a desist and refrain
order against Nexo regarding its interest service in September. Nexo
eventually decided to gradually cease operations in the U.S. after failing
to find a dialogue with local regulators.
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: text/html
Size: 2703 bytes
Desc: not available
URL: <https://lists.cpunks.org/pipermail/cypherpunks/attachments/20230112/962292bd/attachment.txt>