A well known cryptocurrency investment platform - Nexo is experencing unexpected troubles.
Established in 2018  a lending platform is allowing users to stake and borrow against crypto. I remember Nexo mainly from fancy MasterCard debit card and quite good interests wchich were offered to customers.

 The hints, that something bad is going with Nexo has appeared few months earlier.

First issues occured in the United States in September 2022, with the California Department of Financial Protection & Innovation filing a desist-refrain order against it regarding its interest service. It resulted that Nexo decided to cease operations in the U.S. 

Since then Nexo is facing more pressure from regulators, and finally, at 12th of January its offices are raided raided as part of an international investigation.

A group of prosecutors, investigators and foreign agents searched the company’s offices in the city of Sofia (capital of Bulgaria).

The allegations are preety serious and targeting a large-scale financial criminal scheme allegedly involving money laundering and violations of international sanctions against Russia.

The Bulgarian National Television also highlighted Nexo’s alleged ties with the government of Bulgaria, specifying that Nexo was co-founded by former Member of Parliament Antoni Trenchev and Georgi Shulev, the son of former deputy prime minister Lydia Shuleva... well it really reasembles FTX and Sam FriedBankman U.S. connections.

Nexo reaction on Twitter assuring that the company has been compliant with global crypto regulations and has enforced strict Anti-Money Laundering and Know Your Customer procedures.
And says:
“Unfortunately, with the recent regulatory crackdown on crypto, some regulators have recently adopted the kick first, ask questions later approach. In corrupt countries, it is bordering with racketeering, but that too shall pass”.

Will Nexo  trace the same infamous fate as Celsius, Luna or FTX? 
.... We will see.