Nexo Exonerated as Bulgarian Officials End Investigation
Bulgaria’s law enforcement agencies have concluded their investigation into Nexo, a leading crypto lending service, without finding any evidence of illegal conduct. The authorities made a formal announcement regarding the closure of the investigation.
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Bulgaria's law enforcement agencies have concluded their investigation into Nexo, a leading crypto lending service, without finding any evidence of illegal conduct. The authorities made a formal announcement regarding the closure of the investigation.
“The dropping of all charges made against Nexo and its executives by the Bulgarian Prosecutor’s Office, with their confirmation that there were no crimes, unequivocally shows that the whole attack on Nexo was political and should not have happened in the first place,” Nexo co-founder and managing partner Antoni Trenchev commented.
The company had been under investigation for alleged money laundering, tax evasion, and digital fraud from 2018 to 2023. The case was ultimately dismissed due to the unregulated status of cryptocurrencies in Bulgaria's financial legal framework.
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