Lower than 48 hours after a raid on cryptocurrency lender Nexo’s places of work within the Bulgarian capital of Sofia, prosecutors have reportedly charged 4 individuals.
In response to a Jan. 13 report by Bloomberg, authorities charged 4 Bulgarian nationals with forming an organized crime group, which can have included actions associated to cash laundering and unlicensed banking. The nation’s Nationwide Police Service reportedly seized various belongings as a part of the investigation, together with cryptocurrency, money and computer systems.
Following the Jan. 12 raid, Nexo described prosecutors’ actions as a “kick first, ask questions later” strategy. The corporate reportedly deliberate to file a lawsuit in search of compensation for damages brought on by police actions, alleging authorities didn’t present a search warrant or establish themselves to Nexo workers.
“We’re at all times cooperating with the related authorities and regulators,” said the lending agency.
George Naydenov, a frontend developer at Nexo’s Sofia workplace, said on LinkedIn:
“I thank the Bulgarian Prosecutor’s Workplace for making an attempt, after all, in probably the most incompetent and pathetic approach to remove the work of over 600 individuals in Nexo together with me.”
It’s unclear which people and what function they could have held at Nexo had been concerned within the arrests. The lending agency has roughly 600 workers in Sofia.
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Based in 2018, Nexo operates an funding platform permitting customers to stake and borrow towards crypto. The corporate has places of work in the UK, Bulgaria and Switzerland, however reportedly doesn’t provide its providers to Bulgarian residents resulting from potential points with the native authorities. In December, Nexo introduced that it deliberate to section out its providers in the US, citing the dearth of a transparent regulatory-compliant path ahead.
