Bulgaria: Regime launches probe of crypto lender Nexo, raids sites

Source: Reuters

“Bulgarian prosecutors have launched an investigation into alleged illegal activities conducted by cryptocurrency lender Nexo, they said on Thursday, raiding more than 15 sites in the capital Sofia. The announcement comes after Nexo said in December it would phase out its U.S. products and services over the coming months due to clashes with regulators. … Crypto lenders act like banks for the crypto world, offering customers interest on cryptocurrencies they deposit with the platform. According to Bulgarian prosecutors $94 billion has gone through the Nexo platform in the past five years. They said they have also established that a person officially found to have financed terrorist activities had used the platform to transfer cryptocurrencies, without elaborating.” (01/12/23)