Nexo
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anchored·2AXbEo…wuKuSummary
Nexo is a crypto lending and yield platform founded in 2018 by Antoni Trenchev and Kosta Kantchev, incorporated in the Cayman Islands, that grew to over $11 billion in assets under management. The company paid a $45 million settlement to the SEC and a multistate coalition of regulators in January 2023 over the unregistered offer and sale of its Earn Interest Product, and exited the US market in late 2022. A Bulgarian criminal investigation launched simultaneously was closed in December 2023 for lack of evidence, after which Nexo filed a $3 billion ICSID arbitration claim against Bulgaria; Nexo formally reentered the US market in February 2026 in partnership with Bakkt.
Connected Entities
3 entities · 60 linked investigations- Nexo→mentioned with→Tether(60%)
- Nexo→mentioned with→BlockFi(65%)
Connected Through
3 shared actors · 137 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Tetherorganizationalso inBitcoin Xchange (Syria-based, ISIS-Linked)·0Siavash Kayvanpour·0Gurhan Kiziloz·0DOJ Pig Butchering $25M Forfeiture 2026·0Shunda Scam Compound·0Operation Economic Outcast — Iran Digital Assets Sectoral Sanctions (August 2026)·0Tudou Guarantee Telegram Marketplace·0Q2 2026 Record Crypto Hack Wave·0Indonesia Pig Butchering Syndicate — Live Model Operation (2025-2026)·0A7A5 Stablecoin / Old Vector·0Zedcex / Zedxion / Babak Morteza Zanjani (IRGC-linked exchanges)·0Mass Ethereum Address-Poisoning Wave (Dec 2025-Jan 2026)·0OFAC Iran Central Bank Crypto Wallet Freeze (July 2026)·0Southeast Asian Pig-Butchering Scam Compounds (276-Arrest Operation)·0OFAC ISIS-K 134-Address SDN Batch (July 2026)·0DSJEX / BG Wealth Sharing·0Drift Protocol DPRK Exploit (April 2026)·0Inferno Drainer·0DOJ DC 25M Crypto Fraud Forfeiture July 2026·0FX Winning / David Merino Quintana·0ISIS-K Crypto Funding Network (OFAC July 2026)·0Babak Zanjani Network — Expanded OFAC Designations (July 2026)·0Cambodia ChatGPT Pig-Butchering Crypto Scam Network (OpenAI Shutdown July 2026)·0Operation Economic Outcast — Iran Digital Asset Sanctions·0Swift Wave Capital·0DPRK Lazarus April 2026 $635M Blitz — Drift + Kelp Combined Campaign·0Liquid Global·0HormuzSafe Marine Services Authority / Persian Gulf Marine Insurance Company (PGMIC)·0Famous Chollima ClickFake Interview Campaign (PylangGhost / GolangGhost)·0Iranian Crypto Exchanges OFAC Designation — Nobitex, Wallex, Bitpin, Ramzinex (June 2026)·0Pig Butchering Scam Network (Operation Atlantic / 2026 Global Crackdown)·0fxrpntwork.com — Fake Flare Network XRP Staking Scam·0DOJ Pig-Butchering Seizure — Southeast Asia Networks (July 2026)·0Fun Coffee (GCM Project)·0Cheil Credit Bank·0Zaid Issam Ahmed al-Jebouri·0DOJ $25M Crypto Forfeiture International Fraud Rings (July 2026)·0Mass Address Poisoning Campaign (Ethereum 2025-2026)·0CarbonVote Token·0DSJEX / BG Wealth Sharing Ponzi·0Verus Ethereum Bridge Second Exploit (July 2026)·0Daren Li·0Morocoin / Berge Blockchain / Cirkor·0Aban Tether·0Nobitex / Wallex / Bitpin / Ramzinex·0Miloud Abderrahmane (ISIS Crypto Facilitator)·1H-Pay Service PLC (Huione Successor Entity)·2DOJ Pig Butchering Civil Forfeiture — DC District July 2026·2HQI Exchange·2Evita Investments (Iurii Gugnin)·2Operation Token Mirrors — DOJ Crypto Market Manipulation Ring·2Gotbit / Vortex / Contrarian / Antier Wash-Trading Ring·2Finiko·2Evita Pay (Iurii Gugnin)·2Zhuoying Chen & Haojie Zhang — $43M Pig-Butchering Laundering Network·2ISIS-K Crypto Wallet Network (TRON/Monero SDN Designations)·2Terra/Luna·2DOJ $225M Pig Butchering Civil Forfeiture — U.S. v. Approx. $225,364,961 in USDT·2Huione Group·2Gotbit Vortex Antier Contrarian Market Manipulation Ring·2Korea Mangyongdae Computer Technology Company·2Gotbit Consulting LLC·2Blessed Trust & Hexa Whale·2AudiA6 Mixing Service·3M1llionz (RichMilly666)·3CLS Global FZC / ZM Quant Investment·3DOJ Scam Center Strike Force / Southeast Asia Pig Butchering Network·3India OTC Crypto KOL Scam (Ravindra K / Mohammed Waseem / Saurabh Diwan / Vaibhav Gupta)·4DOJ DC — $25M Crypto Confidence Scam Multi-Case Forfeiture July 2026·4Nobitex·5DOJ $25M Pig Butchering Seizure (July 2026)·5DOJ $225M Crypto Confidence Scam Seizure June 2026·5wallet drainers·5Sportsbet·6EXMO Exchange Limited·6Roberto Zibert·8C&M Software·8SUNRAY·FINANCE·8Rhea Finance Exploit (April 2026)·9Mixin Network·10Multichain·10FixedFloat·10Binance Bridge·10Poly Network·10Joaquin Diaz (Orionx Co-Founder)·12Solareum·12BNB Chain Bridge·16Remora Markets·16MiCA EU Mass Non-Compliance — 83% Unlicensed Platform Risk·18Bilaxy·18TRUMP Official Memecoin ($TRUMP)·18Rhea Lend·20Local Traders·22Magic Internet Money·22Remitano·28Mixin Network·28StablR — Multisig Exploit and EURR/USDR Depeg·28Bitfinex / Tether·28Holograph·28MiCA Transitional Period Expiry — Unlicensed EU Crypto Platforms·28Platypus Finance·28Tether Gold (XAUT)·31LayerZero Labs·32KuCoin Exchange Hack·32MEXC Exchange·32Rhea Finance·32Strike·34UNUS SED LEO·35Astera.fi·38USD1 (World Liberty Financial)·38TRON·38StablR·38DGLD·42Chainflip·42Blockstream·42Binance·45Ledger Live·50Tether·52Drift Protocol·52Avalanche·52DMM Bitcoin·52Transak·55LayerZero Protocol·55Global Dollar (USDG)·56Yearn Ether·58Yearn Finance DAI Vault Exploit·62PAX Gold (PAXG)·62Circle Internet Financial·62Circle·62USD Coin (USDC)·71
- ⌂BlockFiprotocol
- □Nexoorganizationalso inChainlink·67
Community submissions
“January 2026 California DFPI consent order and $500K penalty for unlicensed lending to 5,456 California consumers”
— avoid-scout
Timeline(10 events)
April 2018
Nexo launches, raises approximately $52.5 million in NEXO token sale and begins offering crypto-backed credit lines.
ICO DropsFebruary 2022
SEC charges BlockFi over similar crypto lending product; Nexo voluntarily ceases offering EIP to new US investors.
SEC Press Release5 December 2022
Nexo announces gradual exit from US market, citing regulatory discussions reaching a 'dead end.' Earn access immediately suspended in eight states.
CoinDesk12 January 2023
Bulgarian authorities raid 17 Nexo sites in Sofia with 300+ officers; four individuals charged with money laundering, tax crimes, computer fraud, and organized crime participation.
Euronews19 January 2023
Nexo agrees to pay $45 million in combined penalties — $22.5 million to SEC, $22.5 million to multistate coalition of 53 US jurisdictions — over unregistered offer and sale of Earn Interest Product.
SEC / NASAA19 January 2023
New York AG announces five-year ban on Nexo selling securities in New York; approximately 3,000 NY investors directed to withdraw assets by April 1, 2023.
NY Attorney General22 December 2023
Bulgarian Prosecutor's Office closes criminal investigation into Nexo, citing no evidence of criminal activity, tax offenses, or computer fraud.
CoinDesk24 January 2024
Nexo AG files $3 billion+ ICSID arbitration claim (Case No. ARB/24/2) against the Republic of Bulgaria, alleging politically motivated prosecution caused reputational and financial damage.
BusinessWire / ICSID22 January 2025
Nexo introduces $5,000 minimum balance recommendation as part of strategic shift toward serving high-net-worth clients.
CoinDesk16 February 2026
Nexo formally reenters the US market in partnership with Bakkt, offering yield, exchange, and crypto-backed credit line services within a US-regulated framework.
CoinDesk / BusinessWireDecision Log
- hash: GVYb1FKZUDbYNGT57pvXXueq6F5tFVPngXzfw7JZ1rD4
- hash: H8KDjXVf1HcqA8g3vagPJTviE93yoPepSmHfYaLDecgM
- hash: 5E7mGvkta3pBXzXQ8XqwUi8BfnSkUNtSiVgQfiVYLGwP
This investigation is cryptographically anchored to the Solana blockchain (3 events). 22 of 27 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/8/2026, 2:31:30 AM
last updated: 8/14/2026, 1:11:26 AM
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