TechFlow news, according to Reuters, cryptocurrency lending firm Nexo has filed a $3 billion claim against Bulgaria, alleging that an aborted criminal investigation damaged its plans to go public in the United States and sponsor football events.
Nexo AG claims the investigation harmed its reputation and wiped out shareholder value, and has initiated arbitration at the International Centre for Settlement of Investment Disputes. Bulgaria's Ministry of Finance said it has received the arbitration request, which will be reviewed by a special committee. The prosecutor's office has not responded.
In January 2023, Bulgarian prosecutors investigated Nexo AG, accusing its founders of involvement in an organized crime group related to money laundering, tax evasion, and computer fraud.
