A class action lawsuit has been filed against Nexo for allegedly changing XRP token loan terms without notice.
Plaintiffs demand compensation for their XRP funds from the exchange.
Earlier this year, a customer of the trading platform Nexo named JunHan Jeong published an article titled “Please don’t use NEXO.” The customer accused the exchange of suddenly and without notice changing the terms of his XRP loan and preventing him from maintaining his loan-to-value (LTV) ratio. Jeon called the action fraudulent and harmful. The customer has now sued Nexo.
According to a document filed in the District Court Northern District of California, a class action has been filed against Nexo Financial LLC and 3 of its subsidiaries. In the lawsuit, Jeon is acting on behalf of himself and others in a “similar” situation.
A side effect of the lawsuit against Ripple
Jeon recounted his version of events in the referenced article. After the SEC sued Ripple, Nexo rushed to suspend the ability
