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On Friday, Bulgarian authorities reportedly raided the offices of crypto lender Nexo, leading to withdrawals of $158 million in the following 24 hours. The post Nexo Under Fire as $158 Million Leaves the Crypto Lending Platform appeared first on BeInCrypto.
Crypto lender Nexo has seen withdrawals worth more than $158 million in the last 24 hours after Bulgarian authorities raided its offices. The post Nexo sees withdrawals of $158 million in day after Bulgaria raid appeared first on The Block.
Nexo platform has reportedly experienced massive outflows amid the news on office raids and an ongoing investigation against the firm.
The Bulgarian police has raided Nexo's office on charges of "organized crime, money laundering, tax evasion, banking activity without a license, and computer fraud".
Alleged allegations by Bulgarian authorities: a Nexo user has been declared a financier of terrorists
Nexo, which emerged unscathed from crypto contagion that forced competitors into bankruptcies, defended its record and called Bulgaria "corrupt."
Crypto lender Nexo has found itself in the crosshairs of a large-scale investigation as Bulgarian authorities probe into allegations of money laundering, computer fraud, tax offenses, and other crimes. According to reports, authorities claim they have evidence a Nexo user has been declared a terrorist financier.
Authorities in Bulgaria are probing crypto lender Nexo on the accusation of laundering money
Bulgarian police have reportedly raided cryptocurrency lender Nexo in a money laundering and tax probe. Authorities are looking into Nexo on suspicion of money laundering, tax crimes and offenses involving unlicensed banking activities, Siyka Mileva, a spokesperson for Bulgaria's chief prosecutors, told reporters, per a report by Bloomberg News on Thursday (Jan. 12).
Blockchain analysts confirmed that funds were being rushed out of the crypto lender.
Over 300 police officers, prosecutors, and national security agents are involved in the investigation of Nexo.
Embattled exchange Nexo is going through torrid times as emerging reports say regulators have raided its offices. In the details made available by Standart, the search team comprising several prosecutors, agents, and other financial regulators was among the team raiding the exchanges offices in Bulgaria.
The Sofia Nexo raid resulted in four charges. Nexo lets investors borrow and stake crypto.
Crypto lender Nexo, which is suspected of multiple crimes, has been hit by more than 15 raids across the Bulgarian capital on Thursday. The post Cryptocurrency Lender Nexo Hit By Dramatic Raids Across the Bulgarian Capital appeared first on BeInCrypto.
On-chain data shows that addresses related to crypto lender Nexo are recording outflows following news of financial crimes investigations by the Bulgarian government. The post Nexo-linked addresses see outflows of nearly $9M amid rising FUD appeared first on CryptoSlate.
Crypto lender Nexo saw its offices in Bulgaria raided by police officers in what is reportedly part of an investigation into the cryptocurrency firm.
According to several reports, Bulgarian law enforcement officials are investigating crypto lender Nexo for alleged money laundering and sanctions violations. Siika Mileva, a spokesperson for Bulgaria's attorney general, said the probe into Nexo is a large-scale operation involving 300 investigators from various agencies, including the National Security Service, Gendarmerie, and Sofia Police.
Bulgarian cryptocurrency lending platform Nexo has become the target of a major investigation by Bulgarian authorities into illegal activity conducted via the platform. A statement by a spokesperson of attorney general Siika Mileva announced that investigations are underway in Bulgarian capital Sofia to “neutralise illegal criminal activity of the Nexo crypto bank”.
Crypto lender Nexo has reportedly been raided by police in Bulgaria as part of a large-scale international investigation. On Thursday, January 12, a local news outlet reported that Nexo's offices in Sofia had been searched by prosecutors, criminal investigators and foreign agents.
Over 300 Bulgarian investigators are involved in the raid, while Nexo tells Blockworks “the allegations are absurd”
Nexo's co-founder and managing partner Antoni Trenchev confirmed that authorities are present at one of Nexo's offices in Bulgaria following local reports that the Sofia office was raided in relation to “financial crimes.
The crypto lender's office in Bulgaria was raided on suspicions of fraud, money laundering, and tax evasion. Local authorities also claimed to have evidence proving that a Nexo user financed terrorism.
In Sofia, there is now an operation being carried out against NEXO by international agents to combat a plan for committing financial crimes.
The investigators have alleged that Nexo is involved in money laundering and violating global financial sanctions against Russia.
