Cryptocurrency lender Nexo seeks $3 billion in damages from Bulgaria over alleged wrongful actions

Cryptocurrency lender Nexo has filed an arbitration claim against Bulgaria, seeking $3 billion in damages. Nexo alleges that the country engaged in unjustified and oppressive criminal investigations, damaging the company's brand and reputation and causing it to miss out on business opportunities such as a potential IPO in the US. The Bulgarian Prosecutor's Office closed its investigation into Nexo for alleged money laundering offenses in December due to a lack of evidence. The claim has been submitted to the World Bank's International Centre for Settlement of Investment Disputes in Washington, DC.