The Nexo cryptocurrency platform was raided by the Bulgarian authorities at its various premises in Sofia. This operation relates to suspicions related to money laundering.
A raid on the Nexo cryptocurrency exchange
Today the Bulgarian police conducted a search of the premises of Nexo in Sofia. After the bankruptcies of Voyager, Celsius or even BlockFi, the platform is one of the last major centralized players allowing the lending and borrowing of cryptocurrencies.
This search is part of an investigation into suspicion of money laundering and other tax offenses. In fact, fifteen sites were visited by the authorities in the Bulgarian capital. It is a large-scale operation that mobilized 300 police officers, investigators and security agents.
Siyka Mileva, the spokeswoman for the prosecutor’s office, commented on the facts, recalling the Bulgarian origin of Nexo :
“In Sofia, active steps are being taken in a preliminary investigation aimed at neutralizing illegal criminal activity by crypto lender Nexo. It has been established that the main managers of the international platform are Bulgarian citizens and that the main activities take place from Bulgarian territory. »
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Nexo is defending itself against the charges
For now, there is no way to judge the integrity of Nexo. The only concrete information about the case deals with a person who transferred funds from the platform, and who is officially accused of financing terrorist activities. The details end here, however, and it is not specified whether said transfers as such are of an illegal nature or not.
In a Twitter thread, Nexo defended its integrity, and even touted its skills in the fight against money laundering and terrorist financing (LCB / CFT). The platform advances thus making no compromises, and that she has already turned down contentious cases over the years :
Over the years, we have turned down a lot of business because Nexo never makes compromises with regard to our very stringent anti-money laundering and know-your-customer policies. But we have always known that this is how you build a sustainable business. 1/
—Nexo (@Nexo) January 12, 2023
Nexo goes even further, pointing out Bulgarian corruption and the aggressiveness of global regulators after FTX’s criminal activities came to light:
“Unfortunately, with the recent regulatory crackdown in crypto, some regulators have recently adopted the ‘hit first, question later’ approach. In corrupt countries, it borders on racketeering, but that too will pass. We are still cooperating with relevant authorities and regulators, and we hope to hear some exciting news in the weeks to come. »
Whatever the end of this story as to the potential faults committed or not committed by Nexo, reality shows that regulators are indeed on edge. This is also felt in France, with a decisive vote which will take place on January 24 in the National Assembly, and which threatens the competitiveness of local players.
👉 Also in the news – FTX: New exchange management managed to raise more funds than expected
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Source: Reuters
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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