Troubled cryptocurrency company Nexo plans to sue the Bulgarian government after mass raids on the company's offices in Sofia.
Nexo has complained about the actions of law enforcement authorities in response to the investigation against the company, the Bulgarian news agency reported it's january 13
The company is reportedly preparing to file a lawsuit against the authorities to seek compensation for damages caused by the abrupt disruption by the police. a report He suggested that investigators did not provide a search warrant for hours, while inspectors never identified themselves.
Nexus believes that the raids carried out yesterday in their offices they were against the law and demonstrated "total incompetence of those who carried out this shameful action." Nexo also described the actions against the firm as โlocal Bulgarian arbitrarinessโ that was allegedly aimed at โdestroying and looting a thriving businessโ.
The signature also emphasized that Nexo does not offer any services for Bulgarian residents due to possible problems with the local government. The company also reiterated that it has complied with anti-money laundering and anti-Russia sanctions requirements, as well as cooperating with major crypto-intelligence firms like Chainalysis.
The firm expressed confidence that it will win the lawsuit, which will award Nexo compensation for damages caused by the investigation, stating:
"The compensation Bulgaria will pay after Nexo files and wins the lawsuits will be another record amount of hundreds of millions, but unfortunately it will be at the expense of the Bulgarian taxpayer."
Siyka Mileva, spokesperson for Bulgaria's chief prosecutors, saying that the investigation against Nexo involved more than 300 police officers, prosecutors, and national security agents. He also noted that the investigation is currently limited to Bulgaria, with local police officers searching 15 Nexo-related addresses as of January 12. other reports indicated that some foreign agencies were also involved in the investigation.
Nexo's statement came shortly after the company reportedly experienced mass exits amid investigative reports.
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According to the cryptanalysis platform Arkham Intelligence, Nexo has viewed โoutflow floodsโ since the news broke. The Cielo Finance blockchain tracker also reported about large withdrawals from Nexo, highlighting transactions with more than 200,000 USD Coin (USDC) stablecoin leaving the platform on January 12.
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