Four Charged Following Raid on Cryptocurrency Lender Nexo’s Office
• Bulgarian authorities have charged four individuals following a raid on the Nexo office in Sofia.
• The raid was conducted on Jan. 12 and Nexo described prosecutors‘ actions as a „kick first, ask questions later“ approach.
• The National Police Service reportedly seized a number of assets as part of the investigation, including cryptocurrency, cash and computers.
On January 13, Bulgarian authorities charged four individuals following a raid on the Nexo office in Sofia. The raid took place on January 12 and was conducted by the National Police Service, who seized a number of assets as part of the investigation, including cryptocurrency, cash and computers. Nexo, the cryptocurrency lender whose office was raided, described prosecutors‘ actions as a „kick first, ask questions later“ approach.
The four individuals who were charged were all Bulgarian nationals and were accused of forming an organized crime group. It is alleged that their activities may have included money laundering and unlicensed banking. In response to the raid, Nexo stated that they were always cooperating with the relevant authorities and regulators and intended to file a lawsuit against the police for damages caused.
The raid on Nexo’s offices has highlighted the need for greater regulation of the cryptocurrency industry as authorities seek to crackdown on any potential criminal activities. It also serves as a reminder that authorities are willing to take strong action against those who may be engaging in illegal or unethical activities. With the cryptocurrency industry continuing to grow, it is important that the necessary regulations are in place to ensure that it is a safe and secure environment for all users.