According to some reports, law enforcement in Bulgaria The agency is investigating cryptocurrency lender Nexo for alleged money laundering and sanctions violations. It said it was a large investigation involving 300 investigators from various agencies, including the Sofia Police.
Bulgarian law enforcement raids the offices of cryptocurrency lender Nexo for suspected money laundering and sanctions violations
as reported on 12 January 2023 Bulgarian law enforcement officials have raided the offices of cryptocurrency lender Nexo.The company is under investigation for violating sanctions against Russia and money laundering crimes, according to Siika Mileva, a spokesperson for Bulgaria’s Attorney General. there is Svetrio Vasilev, head of Bulgaria’s Cyber Crime Department, said:
The client of the platform, who transferred the cryptocurrency, has officially been identified as the organizer of the terrorist activity. was declared to It has not yet been decided who will be charged with the crime. Over 15 addresses have been searched and new people of interest have been established.
His Nexo, which is based in London but also has an office in Sofia where the raid took place, issued a statement on his Twitter following the story, accusing them of the wrongdoing. denied immediately. “Nexo has turned down many businesses over the years because they never compromise on our very strict anti-money laundering and know your customer policies. Nexo added:
Unfortunately, the recent regulatory crackdown on cryptocurrencies has forced some regulators to I recently adopted a kick first, ask questions later approach. In a corrupt country it borders on extortion, but that too will pass.
This news comes at the end of September 2022, when her six US securities regulators investigated his Nexo and filed a lawsuit against the company’s lending services. It follows. The State of New York and Attorney General Letitia James have also filed a lawsuit against Nexo. Following the lawsuit from James, Nexo announced its withdrawal from the US market. A spokesperson for Bulgaria’s chief public prosecutor detailed that approximately $94 billion has been raised through his Nexo over the past five years.
Nexo executives believe the investigations and raids are groundless, further stressing that the company is “constantly cooperating with relevant authorities and regulators.” In addition to searching Sofia’s office, prosecutors detailed that the investigation began months before the alleged transaction took place. It was intended to circumvent Western sanctions imposed on the Russian Federation.
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