Nexo offices reportedly raided by police in Bulgaria

Troubled cryptocurrency lender Nexo is facing much unit from regulators arsenic its offices person been reportedly raided arsenic portion of an planetary investigation.

A radical of prosecutors, investigators and overseas agents started searches of Nexo’s offices successful the Bulgarian capital, the section quality bureau Standart reported connected Jan. 12.

The cognition was reportedly initiated a fewer months ago, targeting a large-scale fiscal transgression strategy allegedly involving wealth laundering and violations of planetary sanctions against Russia. Citing sources of the Bulgarian National Television, the study alleges Nexo’s engagement successful the scheme.

The tv besides highlighted Nexo’s alleged ties with the authorities of Bulgaria, specifying that Nexo was co-founded by erstwhile parliament subordinate Antoni Trenchev and Georgi Shulev, the lad of erstwhile lawman premier curate Lydia Shuleva.

Cast your ballot now!

Nexo was speedy to respond to the latest news, taking to Twitter to guarantee the nationalist that the institution has been compliant with planetary crypto regulations and has enforced strict Anti-Money Laundering and Know Your Customer policies.

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

“Unfortunately, with the caller regulatory crackdown connected crypto, immoderate regulators person precocious adopted the footwear first, inquire questions aboriginal approach. In corrupt countries, it is bordering with racketeering, but that excessively shall pass,” Nexo wrote.

Over the years, we person turned down a batch of concern due to the fact that Nexo ne'er makes compromises with respect to our precise stringent anti-money laundering and know-your-customer policies. But we person ever known that this is however you physique a sustainable business. 1/

— Nexo (@Nexo) January 12, 2023

Founded successful 2018, Nexo operates a cryptocurrency concern platform, besides allowing users to involvement and get against crypto. The steadfast archetypal encountered issues successful the United States past year, with the California Department of Financial Protection & Innovation filing a desist and refrain order against Nexo regarding its involvement work successful September. Nexo yet decided to gradually cease operations successful the U.S. aft failing to find a dialog with section regulators.