Nexo Faces $126 Million Lawsuit


The effects of the crypto bear market are putting investors’ assets at risk. The general trend is downward and recent events have multiplied the negative mood. The bankruptcy of the FTX stock exchange and the Decommissionings that occurred with it were among the biggest reasons for the process. After all the processes, liquidity problems in crypto companies have grown. Companies are looking for new ways to issue investor assets and return transactions. One of these platforms, Nexo, was sued for blocking the withdrawal of $ 126 million.

Investors Have Filed a Lawsuit Against Nexo

The plaintiffs stated that the Nexo platform froze their accounts after they tried to remove their assets from the platform. In light of these allegations, the crypto platform was sued.

According to the news made by CityAM, the crypto lending platform was sued in the High Court of London. The crypto platform was accused of not allowing cryptocurrency withdrawals worth 107 million pounds (about $ 126 million).
Jason Morton, Owen Morton and Shane Morton reported what happened after trying to remove their assets from the platform. Three victims stated that they were blocked from the platform after the transaction.

According to the allegations, Mortons faced the threat that they would be prevented from withdrawing their crypto assets. The reason for this was the possibility that the tokens to be sold would create a crisis in Nexo. Platfom requested these tokens from three investors at a discount.

On the other hand, Nexo said the following about the issue;

“All transactions, including the sale of Nexo tokens, were completed in good faith. In addition, it was documented and finally accepted by the plaintiffs during the execution.”

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