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.

- Advertisement -

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.

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

- Advertisement -
- Advertisement -
- Advertisement -

Latest

- Advertisement -

Must Read

Read Next
Recommended to you