Bulgaria recently closed its money laundering investigation against crypto company Nexo due to a lack of evidence. The case against Nexo, a platform specializing in crypto financial services, attracted international attention after Bulgarian authorities conducted investigations into suspected money laundering practices.
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Crypto case closed in favor of Nexo
According to the latest reports, Bulgaria has officially stated that the investigation into Nexo has been closed due to insufficient evidence to support the money laundering allegations. This announcement comes after a thorough investigation into Nexo’s involvement in illegal financial practices.
The investigation against Nexo began in January 2023. The allegations related to tax violations, unauthorized banking and computer misuse. The investigation focused specifically on four executives, the report said.
Bulgarian prosecutors said “no evidence of criminal activity” was found. In addition, it was emphasized that “no evidence of tax violations or computer misuse was found against the defendants.”
Nexo, a global crypto exchange, is now the center of attention after the investigation suddenly ended. The company repeatedly protests its innocence and claims to have complied with applicable regulations at all times.
Nexo speaks of a “political attack”
Nexo reacted with relief to the developments and emphasized that the conclusion of the investigation confirms the integrity of the company. The company remains committed to transparency and regulation and states that it has always cooperated with authorities to resolve any concerns.
“The dismissal of all charges against Nexo and its executives by the Bulgarian prosecutor’s office, confirming that there were no crimes, clearly shows that the entire attack on Nexo was political and should not have taken place at all,” says Nexo co-founder Antoni Trechev via E -Mail.
“It also goes a long way in clearing our name and is a rehabilitation for all good players in the crypto space,” Trechev said.
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