Bulgarian authorities raid cryptocurrency lending platform Nexo on suspicions of illegal activity

The company is under investigation for setting up a criminal group, money laundering, tax and electronic fraud, as well as for a crime related to the provision of banking services without the necessary licenses.

Bulgarian prosecutors have raided the offices of the popular cryptocurrency lending platform Nexo in the country’s capital, Sofia, as part of a preliminary investigation into alleged illegal activities.

- Advertisement -

There were also reportedly police officers in front of buildings associated with the company’s owners.

Speaking on the matter, the official spokesman for Bulgaria’s Prosecutor General’s Office said:

“At the moment, actions are being taken to question witnesses at the National Investigation Service. In the capital, massive actions for investigation are being carried out with the aim of neutralizing the illegal and criminal activity of the cryptocurrency bank Nexo. This bank has created and maintains a multinational platform for trading and lending cryptocurrencies.”

In addition, he revealed that over 300 agents are currently working on a massive action against the company, including officials from multiple agencies.

The company is being investigated for forming a criminal group, money laundering, tax and electronic fraud, as well as a crime related to providing banking services without the necessary licenses.

Read Also: Nexo withdraws from the US market

Previous Articles:

- Advertisement -

Latest

Crypto Market Stays Greedy Despite Israel-Iran Tensions, Bitcoin Dips

The Crypto Fear & Greed Index remained in the "greed" zone, with a score of 60, after Israel's recent airstrikes on Iran.Bitcoin dropped 2.8%...

Bitcoin ETFs See $1.3B Inflows Despite Israel-Iran Conflict Fears

Bitcoin ETFs reported five straight days of capital inflows despite ongoing geopolitical tensions between Israel and Iran.Total inflows reached over $1.3 billion from June...

Cardano ADA Falls as Whales Sell, Foundation Launches Originate

Cardano's ADA token declined 1.71% in 24 hours, stabilizing at $0.62 after a period of significant selling pressure from large holders. Whales reportedly sold over...

CRYPTO MINING FIRM Offers Daily Cloud Mining Profits, Cash Bonuses

Cloud mining through CRYPTO MINING FIRM enables users to generate Passive income with cryptocurrencies.The platform offers contracts with varying investment sizes, with daily profits...

DHS and ICE Expand AI Surveillance, Raising Privacy Concerns

The Department of Homeland Security and U.S. Immigration and Customs Enforcement are increasing their use of Artificial Intelligence to monitor immigrants and U.S. citizens. Military-grade...

Must Read

14 Ways On How to Make Money with Cryptocurrency

Many people want to make money with cryptocurrency because they have heard the success stories of people who became millionaires from zero.If you...