Crypto lender NEXO's Bulgarian offices has reportedly been raided by the authorities.
The crypto firm has found itself the subject of a large-scale investigation as prosecutors look into possible money laundering, tax offenses, computer fraud and other financial crimes.
As per the local reports, over 300 people are involved in the search operation of at the capital city Sofia.
As per the official statement of Bulgarian Prosecutor, the ongoing action has been taken to neutralize illegal criminal activity of the Nexo crypto bank.
This comes several months after foreign services alerted Bulgarian authorities about the suspicious transactions.
However, the nature of these transactions was related to sidestepping Russian sanctions.
Local news report also claiming that the company owners have appropriated users’ funds.