Bulgarian Prosecutor Closes Case Against Nexo For Lack of Evidence

• The Bulgarian Prosecutor’s Office has closed its investigation into Nexo.
• According to reports, the case against Nexo was closed due to lack of evidence.
• In January 2023, the prosecutor alleged that Nexo defaulted in tax-related offenses, banking without a license, and computer fraud.

According to reports, the Bulgarian Prosecutor’s Office has closed its investigation into Nexo, a renowned crypto lender operating in centralized finance (CeFi), over lack of evidence. Last Friday, the Bulgarian News Agency reported that Nexo has not been found guilty of money laundering, tax offenses, or other criminal activities.

The Bulgarian Prosecutor’s Office launched a probe into Nexo’s activities in January 2023, alleging that the crypto lender defaulted in tax-related offenses, banking without a license, and computer fraud. The prosecutor focused its searchlight on four Nexo executives, including Kosta Kanchev, Antoni Trenchev, Kalin Metodiev, and Trayan Nikolov.

Nexo’s investigation followed the infamous FTX collapse and several other bitter stories that engulfed the crypto industry in 2022. However, aft…

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