Users filed a lawsuit against Nexo due to blocking assets

Nexo cryptolending platform became the defendant in the lawsuit of its users. The basis was the blocking of the output of digital assets worth ~ £ 107 million (~ $ 126 million), writes Cityam.

According to the plaintiffs, the platform did not fulfill the orders submitted. The statement said that the leadership put pressure on them in order to sell Nexo tokens worth a millions of dollars back to the company at a reduced price. Otherwise, they allegedly could refuse to withdraw assets.

Nexo called the claim “conjunctural”. It was submitted in October, although the events described took place in the period from 2020 to March 2021, representatives of the platform noted.

“All transactions, including the sale of their own tokens, were completed conscientiously, documented and accepted by the applicants as final in execution. Having received Michael Saylor a significant profit from trade, the applicants withdrew all their assets from the platform “, – they explained.

Recall, on July 5, the company began a 60-day study of a potential transaction for the absorption of a competitor Vauld as part of a preliminary purchase agreement.

In September, the company decided to extend the period for another month. In October, I again took this step without indicating the final terms.

On November 18, journalists learned about the “stuck” $ 10 million Vauld in the accounts in FTX. The interlocutors of the publication said that the disclosure of this information may lead to a breakdown of the transaction.

Nexo previously made an unsuccessful attempt to acquire a competitor of Celsius Network.

In September, eight US regulators made charges against the platform.

A month later, the managing partner of the company Kalin Methodyev excluded its bankruptcy or insolvency.

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