Nexo
History
In January 2023, Nexo's offices were raided by “a group of more than 300 prosecutors, investigators and foreign agents.” Bulgarian prosecutors alleged that Nexo's platform was used for money laundering, financing of terrorist activities and violating sanctions on Russia following its February 2022 invasion of Ukraine.1)
Following the failure of Silvergate and Silicon Valley Bank (SVB) in March 2023, Nexo e-mailed customers assuring them that the company did not hold any exposure to the two banks.2)
1)
Carbonaro, G. (2023, January 13). Crypto lender Nexo faces organised crime probe in Bulgaria. EuroNews. https://web.archive.org/web/20230315013622/https://www.euronews.com/next/2023/01/13/nexo-probe-four-charged-after-raid-at-crypto-lenders-offices-in-bulgaria
2)
Nexo Community. (2023, March 16). Nexo Has Zero Exposure to Struggling Banks. Nexo. https://ia601606.us.archive.org/19/items/nexo-protects-your-assets-amidst-the-banking-system-woes/Nexo%20Protects%20Your%20Assets%20Amidst%20the%20Banking%20System%20Woes.pdf