Nexo to Sue Bulgaria Government After Office Raids

Under-fire cryptocurrency lender Nexo is planning to sue Bulgarian authorities after massive raids ensued at the company’s offices in Sofia, the capital of Bulgaria. Nexo is reportedly seeking compensations for the damages caused by the police interruption, emphasizing the fact that authorities did not provide a search warrant for several hours, and that inspectors did not identify themselves.

Nexo described the actions of the Bulgarian government as “local Bulgarian arbitrariness” which were motivated to “destroy and loot a prosperous business”. The company reiterated that it does not offer its services to Bulgarian residents due to current tensions with the nation’s government.

The crypto lender emphasized its confidence that the “hundreds of millions” which will be collected as lawsuit winnings will unfortunately be “at the expense of the Bulgarian taxpayer”.

Sources:

https://cointelegraph.com/news/crypto-lender-nexo-wants-to-sue-bulgaria-after-office-raids

https://www.ft.com/content/751e208f-31a7-424e-ab39-a98d55cd7015