Nexo Co-Founder Considers Suing Bulgaria for $1 Billion
Nexo co-founder Antoni Trenchev said his company may sue the Bulgarian government for $1 billion following a raid on Nexo’s offices earlier this month. Trenchev claimed that the state’s actions were not only illegal, but caused significant harm to his company’s reputation. Repairing a Damaged Reputation During an interview with Nova TV, Trenchev called claims that his company is involved in money laundering and terrorist financing operations ”absurd.” “We, as an institution, monitor all incoming and outgoing transactions on our platform in real-time,” he explained. Nexo put out a similar statement on the situation weeks ago, claiming to possess over 30 AML compliance officers monitoring OFAC sanctions lists KYC & Audit Solutions! SolidProof Such claims were grounds for the government’s raid on Nexo’s offices on January 12. News of the raid was shortly followed by an influx of withdrawal requests from its platform, during a period marred by wides...