The post Crypto Lender Nexo AG Seeks $3 Billion in Damages from Bulgaria Over Crypto Probe appeared first on Coinpedia Fintech News
Crypto lender Nexo AG has submitted an arbitration claim exceeding $3 billion against Bulgaria, asserting that a politically motivated investigation resulted in substantial business losses and damage to its reputation.
Details About The Lawsuit
Nexo AG, a prominent crypto lending platform, announced its arbitration claim worth over $3 billion against the Government of Bulgaria after the summary of an investigation that led to the raiding of Nexo’s Bulgarian office and charges against four individuals.
The claim was lodged at the Secretariat of the World Bank’s International Centre for Settlement of Investment Disputes in Washington, with Nexo being represented by US law firm Pillsbury Winthrop Shaw Pittman LLP.
Allegations Lodged
The crypto lender argued that the investigation, which concluded in December with Bulgaria dropping charges citing a lac
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