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Nexo

avoid.net/nexo→34/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·2AXbEo…wuKu

Summary

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
Organizations
□Tether52□Nexo
Protocols
⌂BlockFi38
Relationships
  • Nexo→mentioned with→Tether(60%)
  • Nexo→mentioned with→BlockFi(65%)
Also appears in
BlockFi·38H-Pay Service PLC (Huione Successor Entity)·2Bitcoin Xchange (Syria-based, ISIS-Linked)·0Gurhan Kiziloz·0Siavash Kayvanpour·0HQI Exchange·2Q2 2026 Record Crypto Hack Wave·0Indonesia Pig Butchering Syndicate — Live Model Operation (2025-2026)·0OFAC Iran Central Bank Crypto Wallet Freeze (July 2026)·0Operation Economic Outcast — Iran Digital Assets Sectoral Sanctions (August 2026)·0+ 50 more

Connected Through

3 shared actors · 137 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

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Community submissions

Timeline(10 events)

April 2018

Nexo launches, raises approximately $52.5 million in NEXO token sale and begins offering crypto-backed credit lines.

ICO Drops

February 2022

SEC charges BlockFi over similar crypto lending product; Nexo voluntarily ceases offering EIP to new US investors.

SEC Press Release

5 December 2022

Nexo announces gradual exit from US market, citing regulatory discussions reaching a 'dead end.' Earn access immediately suspended in eight states.

CoinDesk

12 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.

Euronews

19 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 / NASAA

19 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 General

22 December 2023

Bulgarian Prosecutor's Office closes criminal investigation into Nexo, citing no evidence of criminal activity, tax offenses, or computer fraud.

CoinDesk

24 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 / ICSID

22 January 2025

Nexo introduces $5,000 minimum balance recommendation as part of strategic shift toward serving high-net-worth clients.

CoinDesk

16 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 / BusinessWire
Provenance & Audit Trail
Anchored on SolanaVerify on-chain22 Wayback Archives

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 22 of 27 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

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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