Less than 48 hours after police raided the offices of cryptocurrency lender Nexo in the Bulgarian capital of Sofia, prosecutors have filed charges against four people.
According to a January 13 Bloomberg report, the authorities are accusing four Bulgarian nationals of forming an organized criminal group, which may have included activities related to money laundering and unlicensed banking activities. The country’s National Police Service has reportedly seized several assets as part of the investigation, including cryptocurrencies, cash, and computers.
After the January 12 invasion, Nexo he wrote The prosecutors’ actions are a “knock first, ask questions later” approach. The company is said to have planned to sue for damages from the police actions, alleging that authorities failed to serve a search warrant or identify themselves with Nexo employees.
“We always cooperate with the relevant authorities and regulatory bodies,” He said loan company.
Georg Naynov, a front-end developer at Nexo’s Sofia office, wrote on LinkedIn:
“Thank you to the Bulgarian Prosecutor General’s Office for trying, of course, in an incompetent and pathetic way to take over the work of more than 600 people at Nexo, including me.”
It is not yet clear which individuals are involved with Nexo. The lending company has about 600 employees in Sofia.
Founded in 2018, Nexo operates an investment platform that allows users to bet and borrow against cryptocurrencies. The company has offices in the UK, Bulgaria and Switzerland, but does not cater to Bulgarian residents due to possible problems with the local government. In December, Nexo announced that it planned to phase out its services in the United States, citing a lack of a clear, regulatory-compliant path.