After the company of the crypto coin lender Nexo was attacked in Bulgaria, the digital lending system saw several repayments from January 12, 2023. An archived image of Nexo actually shows that the company had 133,263 bitcoins that day. From Jan. On February 13, 2023, Nexo’s statement shows that the company currently has 124,939 bitcoins, of which $157.21 million worth of bitcoins have been withdrawn in the past 24 hours.
Clients Withdraw $157 Million Bitcoin From Nexo Platform in 24 Hours
In the past year, many exchanges have been undergoing stress tests, and after the Nexo desktop attack on Thursday, the crypto lender is facing similar problems. News from January 12, 2023 revealed that Nexo is under investigation by the Attorney General of Bulgaria and about 300 investigators from different agencies. The company is accused of violating tax laws, participating in money laundering and violating financial laws related to the Russian Federation.
Nexo denied any wrongdoing and issued a statement immediately on Twitter that the city and the company were following “anti-money laundering and know-your-customer laws.” Following this incident, the company experienced a wave of withdrawals as its website proved its existence. For example, on January 3, 2023, Nexo has approximately 134,203 bitcoins, worth $2.5 billion using the current BTC exchange rate.
As of January 12, 2023, the crypto lender’s BTC reserves have fallen to 133,263 bitcoins. Twenty-four hours later, on Friday, January 13, 2023, Nexo’s BTC reserves decreased from 8,324 BTC to the current level of 124,939 BTC. This means that using the current BTC exchange rate, $157.21 million was withdrawn from Nexo’s bitcoin cache. Nexo’s setback follows several other exchanges that have seen major setbacks in a short period of time.
After the collapse of FTX, users withdrew large amounts of digital currency from exchanges such as Binance, Kucoin, and Crypto.com.
It is not yet known what will happen in the case against Nexo in Bulgaria, but with the rate of release in the previous day, it seems that the customers are worried. In an interview with Block reporter, Yogita Khatri, Nexo co-founder Antoni Trenchev said that politics represents only 2% of the company’s assets under management (AUM). “Nexo can confirm that all systems are working and processing everything immediately as always,” Trenchev told Khatri on Friday. “This project is a process that is lower than post-Celsius and post-FTX,” added the CEO of Nexo.