Nexo Under Investigation
For those who are watching the crypto industry closely, another FTX scenario might be on the corner after Nexo offices in Bulgaria were raided by the local police force. According to information from those who have great knowledge about the matter, Nexo was reportedly found guilty of money laundering and tax evasion crimes.
This might be one of the craziest crypto stories for the week, as it has raised a lot of dust on how many crypto firms operate. Because of the latest scare on the crypto platform, many people have already started withdrawing their funds. People are trying to get away with any news of the crypto firm halting withdrawal (a similar case with FTX).
However, Nexo has denied the allegations against them, saying it was a poorly planned accusation by the Bulgarian authorities. "The allegations are absurd — we are one of the most stringent entities regarding KYC/AML," Nexo co-founder and managing partner Antoni Trenchev said.
