Nexo Disabling Withdrawals Forcing Token Sale: Difference between revisions

From Quadriga Initiative Cryptocurrency Hacks, Scams, and Frauds Repository
Jump to navigation Jump to search
(Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/nexodisablingwithdrawalsforcingtokensale.php}} {{Unattributed Sources}} thumb|Nexo Logo/WebsiteNexo, a London-based crypto exchange, is alleging to have prevented three tech entrepreneurs—brothers Jason and Owen Morton and their cousin Shane Morton from withdrawing over $126 million worth of cryptocurrencies and coerced them into selling their assets at a 60% discount....")
 
No edit summary
 
Line 4: Line 4:
[[File:Nexoplatform.jpg|thumb|Nexo Logo/Website]]Nexo, a London-based crypto exchange, is alleging to have prevented three tech entrepreneurs—brothers Jason and Owen Morton and their cousin Shane Morton from withdrawing over $126 million worth of cryptocurrencies and coerced them into selling their assets at a 60% discount. The investors claim that Nexo froze their accounts after expressing concerns about the exchange's transparency and then pressured them into selling Nexo Tokens back to the company. The lawsuit alleges breach of contract, claiming that Nexo imposed "bespoke" withdrawal limits and intimidated the investors into selling tokens below market value. A High Court lawsuit against Nexo was filed. Nexo responded, stating that all transactions were completed in good faith and considered the claim opportunistic as the events occurred in March 2021.
[[File:Nexoplatform.jpg|thumb|Nexo Logo/Website]]Nexo, a London-based crypto exchange, is alleging to have prevented three tech entrepreneurs—brothers Jason and Owen Morton and their cousin Shane Morton from withdrawing over $126 million worth of cryptocurrencies and coerced them into selling their assets at a 60% discount. The investors claim that Nexo froze their accounts after expressing concerns about the exchange's transparency and then pressured them into selling Nexo Tokens back to the company. The lawsuit alleges breach of contract, claiming that Nexo imposed "bespoke" withdrawal limits and intimidated the investors into selling tokens below market value. A High Court lawsuit against Nexo was filed. Nexo responded, stating that all transactions were completed in good faith and considered the claim opportunistic as the events occurred in March 2021.


This is a global/international case not involving a specific country.<ref name="redditold-12983" /><ref name="redditold-12984" /><ref name="redditold-12985" /><ref name="cityam-12986" /><ref name="caseboard-12987" /><ref name="bnnbloomberg-12988" /><ref name="yahoofinance-12989" /><ref name="cryptosavingexpertmedium-12990" /><ref name="pymnts-12991" /><ref name="nexo-12992" /><ref name="blockchaindotcom-12993" /><ref name="etherscan-12994" /><ref name="etherscan-12995" /><ref name="blockchaindotcom-12996" /><ref name="etherscan-12997" /><ref name="etherscan-12998" />
This is a global/international case not involving a specific country.<ref name="redditold-12983" /><ref name="redditold-12984" /><ref name="redditold-12985" /><ref name="cityam-12986" /><ref name="caseboard-12987" /><ref name="bnnbloomberg-12988" /><ref name="yahoofinance-12989" /><ref name="cryptosavingexpertmedium-12990" /><ref name="pymnts-12991" /><ref name="nexo-12992" /><ref name="blockchaindotcom-12993" /><ref name="etherscan-12994" /><ref name="etherscan-12995" /><ref name="blockchaindotcom-12996" /><ref name="etherscan-12997" /><ref name="etherscan-12998" /><ref name="nexohomepage-20194" />


== About Nexo ==
== About Nexo ==
"Buy & Earn Interest on BTC, USDT and Other Digital Assets Grow your crypto wealth and keep it secure with Nexo."
Nexo is a comprehensive digital asset platform that empowers individuals, businesses, and institutions to build and manage wealth in the crypto economy. Since its founding in 2018, Nexo has grown to manage over $11 billion in assets and operate in more than 150 jurisdictions. The platform offers a full suite of services from crypto savings and trading to credit lines, debit/credit cards, and private wealth solutions—all accessible through a single, streamlined app.


"The Mortons claimed they initially informed Nexo about their concerns in December 2020 but received an unsatisfactory response.
At its core, Nexo provides flexible and fixed-term savings options that allow users to earn daily compound interest—up to 16% annually—on a wide range of digital assets including BTC, ETH, USDT, and fiat-pegged stablecoins. For those seeking more active strategies, Nexo also offers Dual Investment products and high-leverage futures trading.


Subsequently, they decided to withdraw their combined crypto assets worth $126 million from the exchange. In March 2021, they started liquidating their NEXO tokens in small portions to avoid a heavy impact on the market. They also had other crypto assets, including Bitcoin (BTC), Pax Gold (PAXG), and Stellar (XLM)."
The platform goes beyond personal finance, supporting credit-backed liquidity solutions through crypto-collateralized loans, starting at just 2.9% interest. It also features the Nexo Exchange, where users can trade over 100 cryptocurrencies and set automated recurring buys. The Nexo Card enables real-time spending in both debit and credit modes, allowing users to earn up to 2% cashback without selling their crypto.


"This news article covers info that happened in 2021 and has been fully public for several months. Nexo commented on it many months ago."
For high-net-worth individuals and corporate clients, Nexo Private delivers tailored wealth management, OTC trading, and customized credit services for portfolios starting at $100,000. Businesses can also build digital treasuries with institutional-grade security and 24/7 white-glove support.
 
"The three crypto investors have filed a High Court lawsuit against London headquartered Nexo over claims it stopped them from withdrawing more than $126m (£107m) worth of cryptocurrencies and then intimidated them into selling their assets at a 60 per cent discount.
 
The tech entrepreneurs – brothers Jason and Owen Morton and their cousin Shane Morton – claim Nexo froze their accounts after they sought to pull their assets off the Cayman Islands incorporated exchange, due to becoming concerned about its lack of transparency.
 
The investors claim they were then intimidated into selling millions worth of Nexo Tokens back to the company at a discount price, on the threat they would be blocked from withdrawing their crypto from Nexo’s exchange, according to High Court documents seen by City A.M.
 
Together, the three men had millions of Nexo’s own cryptocurrency, Nexo Tokens, stored the exchange alongside tens of millions of dollars’ worth of other cryptocurrencies, including Bitcoin, Pax Gold, and Stellar."
 
"However, on 22 March 2021, Nexo – without notice or explanation – imposed bespoke daily withdrawal limits on the entrepreneurs’ accounts, which blocked them from pulling more than $150,000 a day off the platform, the High Court claim says.
 
The following day, on 23 March 2021, Nexo then entirely blocked the entrepreneurs from withdrawing their assets, by greying out their withdraw buttons, therefore disabling them from pulling any cryptocurrencies from the platform.
 
That same day, Nexo also blocked two of the businessmen from converting their Nexo tokens into other cryptocurrencies, by greying out the convert buttons that had previously been available to both Shane and Owen Morton."
 
"During their conversation, the account manager explained Nexo had frozen their accounts to “support the price of Nexo Tokens,” the High Court filings show.
 
He in turn offered the investors a deal, through which they could either sell their Nexo Tokens at a 60 per cent discount on their market price in return for a complete removal of any subsequent withdrawal limits.
 
The Mortons subsequently accepted Nexo’s offer through which they agreed to sell their Nexo Tokens at a 60 per cent discount on their market price, in return for the removal of withdrawal limits. The deal saw Nexo pay the investors $38,948,743 worth of the dollar-pegged stablecoin Tether.
 
Altogether, the Mortons held 38,793,323.7 Nexo Tokens when they sought to withdraw their assets. In March, those assets would have been worth around $85.4m, according to data from CoinMarketCap.
 
The Mortons also held 281.05 Bitcoin, worth around $12.5m, on Nexo’s platform.
 
The High Court lawsuit claims Nexo breached its contract with the crypto investors by imposing “bespoke” withdrawal limits on their accounts. The lawsuit also claims the investors were intimidated into selling their Nexo Tokens at a below market price."
 
"In a response to the lawsuit posted on its website, Nexo said the claimants’ transactions included fixed-term arrangements and the subsequent sale of their Nexo tokens, and that spot trades of large blocks of crypto assets can involve higher spreads.
 
“However, all transactions, including the sale of their Nexo tokens, were completed in good faith, were documented and were accepted as final by the claimants at execution,” Nexo said in the statement.
 
The crypto lender added in the statement that it considers that the claim has been brought “opportunistically” because the events outlined in the lawsuit were completed in March 2021 and Nexo considered the matter closed."
 
"Inevitably, spot trades of large blocks of crypto-assets can involve higher spreads. However, all transactions, including the sale of their Nexo tokens, were completed in good faith, were documented and were accepted as final by the claimants at execution. Having made substantial profits from trading their Nexo tokens, the claimants withdrew all their assets from the Nexo platform and they are not disputing this fact."


This is a global/international case not involving a specific country.
This is a global/international case not involving a specific country.
Line 83: Line 49:
!Event
!Event
!Description
!Description
|-
|December, 2020
|Concerns Not Addresses
|The Mortons claimed they initially informed Nexo about their concerns in December 2020 but received an unsatisfactory response.
|-
|-
|March 22nd, 2021
|March 22nd, 2021
Line 111: Line 73:
|Nexo Files Defense
|Nexo Files Defense
|Nexo files a defense in the lawsuit.
|Nexo files a defense in the lawsuit.
|-
|December 12th, 2024 8:20:00 PM MST
|Concerns Not Addresses
|The Mortons claimed they initially informed Nexo about their concerns in December 2020 but received an unsatisfactory response.
|}
|}


Line 150: Line 116:


== References ==
== References ==
<references><ref name="redditold-12983">[https://old.reddit.com/r/CryptoCurrency/comments/zshkub/nexo_sued_by_investors_prevented_from_withdrawing/j1879my/ Stankoman comments on Nexo sued by investors prevented from withdrawing £107m crypto holdings in full] (Mar 16, 2023)</ref>
<references><ref name="redditold-12983">[https://old.reddit.com/r/CryptoCurrency/comments/zshkub/nexo_sued_by_investors_prevented_from_withdrawing/j1879my/ Stankoman comments on Nexo sued by investors prevented from withdrawing £107m crypto holdings in full] (Accessed Mar 16, 2023)</ref>
 
<ref name="redditold-12984">[https://old.reddit.com/r/CryptoCurrency/comments/zs5yaz/daily_general_discussion_december_22_2022_gmt0/j184epn/ Stankoman comments on Daily General Discussion - December 22, 2022 (GMT+0)] (Accessed Feb 2, 2024)</ref>


<ref name="redditold-12984">[https://old.reddit.com/r/CryptoCurrency/comments/zs5yaz/daily_general_discussion_december_22_2022_gmt0/j184epn/ Stankoman comments on Daily General Discussion - December 22, 2022 (GMT+0)] (Feb 2, 2024)</ref>
<ref name="redditold-12985">[https://old.reddit.com/r/CryptoCurrency/comments/zshkub/nexo_sued_by_investors_prevented_from_withdrawing/j18azmd/ shin_jury comments on Nexo sued by investors prevented from withdrawing £107m crypto holdings in full] (Accessed Feb 2, 2024)</ref>


<ref name="redditold-12985">[https://old.reddit.com/r/CryptoCurrency/comments/zshkub/nexo_sued_by_investors_prevented_from_withdrawing/j18azmd/ shin_jury comments on Nexo sued by investors prevented from withdrawing £107m crypto holdings in full] (Feb 2, 2024)</ref>
<ref name="cityam-12986">[https://www.cityam.com/nexo-sued-by-investors-blocked-from-cashing-in-on-107m-crypto-holdings/ Nexo sued by investors prevented from withdrawing £107m crypto holdings in full - CityAM] (Accessed Feb 2, 2024)</ref>


<ref name="cityam-12986">[https://www.cityam.com/nexo-sued-by-investors-blocked-from-cashing-in-on-107m-crypto-holdings/ Nexo sued by investors prevented from withdrawing £107m crypto holdings in full - CityAM] (Feb 2, 2024)</ref>
<ref name="caseboard-12987">[https://caseboard.io/cases/5bf36cd4-d306-4b19-90f0-f0bd110b2ec3 https://caseboard.io/cases/5bf36cd4-d306-4b19-90f0-f0bd110b2ec3] (Accessed Feb 2, 2024)</ref>


<ref name="caseboard-12987">[https://caseboard.io/cases/5bf36cd4-d306-4b19-90f0-f0bd110b2ec3 https://caseboard.io/cases/5bf36cd4-d306-4b19-90f0-f0bd110b2ec3] (Feb 2, 2024)</ref>
<ref name="bnnbloomberg-12988">[https://www.bnnbloomberg.ca/crypto-lender-sued-for-blocking-withdrawals-by-wealthy-investors-1.1849733 Crypto lender sued for blocking withdrawals by wealthy investors - BNN Bloomberg] (Accessed Feb 2, 2024)</ref>


<ref name="bnnbloomberg-12988">[https://www.bnnbloomberg.ca/crypto-lender-sued-for-blocking-withdrawals-by-wealthy-investors-1.1849733 Crypto lender sued for blocking withdrawals by wealthy investors - BNN Bloomberg] (Feb 2, 2024)</ref>
<ref name="yahoofinance-12989">[https://finance.yahoo.com/news/crypto-lender-nexo-sued-allegedly-131737487.html Yahoo fait partie de la famille de marques Yahoo] (Accessed Feb 2, 2024)</ref>


<ref name="yahoofinance-12989">[https://finance.yahoo.com/news/crypto-lender-nexo-sued-allegedly-131737487.html Yahoo fait partie de la famille de marques Yahoo] (Feb 2, 2024)</ref>
<ref name="cryptosavingexpertmedium-12990">[https://medium.com/@CryptoSavingExpert/investors-sue-crypto-lender-nexo-for-blocking-accounts-after-126m-withdrawal-attempts-cfab2b52ab39 Investors Sue Crypto Lender Nexo for Blocking Accounts After $126M Withdrawal Attempts | by Crypto Saving Expert | Medium] (Accessed Feb 2, 2024)</ref>


<ref name="cryptosavingexpertmedium-12990">[https://medium.com/@CryptoSavingExpert/investors-sue-crypto-lender-nexo-for-blocking-accounts-after-126m-withdrawal-attempts-cfab2b52ab39 https://medium.com/@CryptoSavingExpert/investors-sue-crypto-lender-nexo-for-blocking-accounts-after-126m-withdrawal-attempts-cfab2b52ab39] (Feb 2, 2024)</ref>
<ref name="pymnts-12991">[https://www.pymnts.com/cryptocurrency/2022/lawsuit-england-alleges-crypto-lender-nexo-prevented-withdrawals/ Lawsuit in England Alleges Crypto Lender Nexo Prevented Withdrawals - PYMNTS.com] (Accessed Feb 2, 2024)</ref>


<ref name="pymnts-12991">[https://www.pymnts.com/cryptocurrency/2022/lawsuit-england-alleges-crypto-lender-nexo-prevented-withdrawals/ Lawsuit in England Alleges Crypto Lender Nexo Prevented Withdrawals - PYMNTS.com] (Feb 2, 2024)</ref>
<ref name="nexo-12992">[https://nexo.com/blog/on-the-claim-made-by-the-mortons-in-the-high-court-in-england On the claim made by the Mortons in the High Court in England - Nexo] (Accessed Feb 2, 2024)</ref>


<ref name="nexo-12992">[https://nexo.com/blog/on-the-claim-made-by-the-mortons-in-the-high-court-in-england On the claim made by the Mortons in the High Court in England • Nexo] (Feb 2, 2024)</ref>
<ref name="blockchaindotcom-12993">[https://www.blockchain.com/btc/tx/4fbb4a4e0af1b3c767d1fb5a992042ee8d7b7dfde24eceea529f51c89d3276b2 Transaction: 4fbb4a4e0af1b3c767d1fb5a992042ee8d7b7dfde24eceea529f51c89d3276b2 - Blockchain.com] (Accessed Feb 2, 2024)</ref>


<ref name="blockchaindotcom-12993">[https://www.blockchain.com/btc/tx/4fbb4a4e0af1b3c767d1fb5a992042ee8d7b7dfde24eceea529f51c89d3276b2 Transaction: 4fbb4a4e0af1b3c767d1fb5a992042ee8d7b7dfde24eceea529f51c89d3276b2 | Blockchain.com] (Feb 2, 2024)</ref>
<ref name="etherscan-12994">[https://etherscan.io/tx/0xc00e2d33aadb7b8f27275b7959979fbe0c675c7a9266345d19eba66b0a2b15f7 Ethereum Transaction Hash (Txhash) Details - Etherscan] (Accessed Feb 2, 2024)</ref>


<ref name="etherscan-12994">[https://etherscan.io/tx/0xc00e2d33aadb7b8f27275b7959979fbe0c675c7a9266345d19eba66b0a2b15f7 Ethereum Transaction Hash (Txhash) Details | Etherscan] (Feb 2, 2024)</ref>
<ref name="etherscan-12995">[https://etherscan.io/tx/0xc1300e0612e7499f02a11fd3ba61ecb68e055554b19db8f627e3f47be2c5b9dc Ethereum Transaction Hash (Txhash) Details - Etherscan] (Accessed Feb 2, 2024)</ref>


<ref name="etherscan-12995">[https://etherscan.io/tx/0xc1300e0612e7499f02a11fd3ba61ecb68e055554b19db8f627e3f47be2c5b9dc Ethereum Transaction Hash (Txhash) Details | Etherscan] (Feb 2, 2024)</ref>
<ref name="blockchaindotcom-12996">[https://www.blockchain.com/btc/tx/ee92ea37873215b5041356d2ab5c3d947af062b6ddfe4a01274bf27789714247 Transaction: ee92ea37873215b5041356d2ab5c3d947af062b6ddfe4a01274bf27789714247 - Blockchain.com] (Accessed Feb 2, 2024)</ref>


<ref name="blockchaindotcom-12996">[https://www.blockchain.com/btc/tx/ee92ea37873215b5041356d2ab5c3d947af062b6ddfe4a01274bf27789714247 Transaction: ee92ea37873215b5041356d2ab5c3d947af062b6ddfe4a01274bf27789714247 | Blockchain.com] (Feb 2, 2024)</ref>
<ref name="etherscan-12997">[https://etherscan.io/tx/0xe29d90df598ff416e224d22849ed65fefcac36dda8524fc7112159b64e7c1925 Ethereum Transaction Hash (Txhash) Details - Etherscan] (Accessed Feb 2, 2024)</ref>


<ref name="etherscan-12997">[https://etherscan.io/tx/0xe29d90df598ff416e224d22849ed65fefcac36dda8524fc7112159b64e7c1925 Ethereum Transaction Hash (Txhash) Details | Etherscan] (Feb 2, 2024)</ref>
<ref name="etherscan-12998">[https://etherscan.io/tx/0xa5e571b9f4fa28ce4389c9609b28ef8217efc8446aa2de32311bff1bb244a805 Ethereum Transaction Hash (Txhash) Details - Etherscan] (Accessed Feb 2, 2024)</ref>


<ref name="etherscan-12998">[https://etherscan.io/tx/0xa5e571b9f4fa28ce4389c9609b28ef8217efc8446aa2de32311bff1bb244a805 Ethereum Transaction Hash (Txhash) Details | Etherscan] (Feb 2, 2024)</ref></references>
<ref name="nexohomepage-20194">[https://nexo.com/ Nexo Homepage] (Accessed Jun 12, 2025)</ref></references>

Latest revision as of 17:54, 28 July 2025

Notice: This page is a freshly imported case study from the original repository. The original content was in a different format, and may not have relevant information for all sections. Please help restructure the content by moving information from the 'About' section to other sections, and add any missing information or sources you can find. If you are new here, please read General Tutorial on Wikis or Anatomy of a Case Study for help getting started.

Notice: This page contains sources which are not attributed to any text. The unattributed sources follow the initial description. Please assist by visiting each source, reviewing the content, and placing that reference next to any text it can be used to support. Feel free to add any information that you come across which isn't present already. Sources which don't contain any relevant information can be removed. Broken links can be replaced with versions from the Internet Archive. See General Tutorial on Wikis, Anatomy of a Case Study, and/or Citing Your Sources Guide for additional information. Thanks for your help!

Nexo Logo/Website

Nexo, a London-based crypto exchange, is alleging to have prevented three tech entrepreneurs—brothers Jason and Owen Morton and their cousin Shane Morton from withdrawing over $126 million worth of cryptocurrencies and coerced them into selling their assets at a 60% discount. The investors claim that Nexo froze their accounts after expressing concerns about the exchange's transparency and then pressured them into selling Nexo Tokens back to the company. The lawsuit alleges breach of contract, claiming that Nexo imposed "bespoke" withdrawal limits and intimidated the investors into selling tokens below market value. A High Court lawsuit against Nexo was filed. Nexo responded, stating that all transactions were completed in good faith and considered the claim opportunistic as the events occurred in March 2021.

This is a global/international case not involving a specific country.[1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17]

About Nexo

Nexo is a comprehensive digital asset platform that empowers individuals, businesses, and institutions to build and manage wealth in the crypto economy. Since its founding in 2018, Nexo has grown to manage over $11 billion in assets and operate in more than 150 jurisdictions. The platform offers a full suite of services from crypto savings and trading to credit lines, debit/credit cards, and private wealth solutions—all accessible through a single, streamlined app.

At its core, Nexo provides flexible and fixed-term savings options that allow users to earn daily compound interest—up to 16% annually—on a wide range of digital assets including BTC, ETH, USDT, and fiat-pegged stablecoins. For those seeking more active strategies, Nexo also offers Dual Investment products and high-leverage futures trading.

The platform goes beyond personal finance, supporting credit-backed liquidity solutions through crypto-collateralized loans, starting at just 2.9% interest. It also features the Nexo Exchange, where users can trade over 100 cryptocurrencies and set automated recurring buys. The Nexo Card enables real-time spending in both debit and credit modes, allowing users to earn up to 2% cashback without selling their crypto.

For high-net-worth individuals and corporate clients, Nexo Private delivers tailored wealth management, OTC trading, and customized credit services for portfolios starting at $100,000. Businesses can also build digital treasuries with institutional-grade security and 24/7 white-glove support.

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

  • Known history of when and how the service was started.
  • What problems does the company or service claim to solve?
  • What marketing materials were used by the firm or business?
  • Audits performed, and excerpts that may have been included.
  • Business registration documents shown (fake or legitimate).
  • How were people recruited to participate?
  • Public warnings and announcements prior to the event.

Don't Include:

  • Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
  • Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

  • When the service was actually started (if different than the "official story").
  • Who actually ran a service and their own personal history.
  • How the service was structured behind the scenes. (For example, there was no "trading bot".)
  • Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - Nexo Disabling Withdrawals Forcing Token Sale
Date Event Description
March 22nd, 2021 Withdrawal Limit A withdrawal limit of $150,000 is imposed without warning.
March 23rd, 2021 Withdrawals Blocked Withdrawals of the Nexo token are blocked entirely.
September 29th, 2022 Case Filing A case is filed against Nexo in the matter.
November 11th, 2022 Nexo Issues Response Nexo issues a response on their blog. "Inevitably, spot trades of large blocks of crypto-assets can involve higher spreads. However, all transactions, including the sale of their Nexo tokens, were completed in good faith, were documented and were accepted as final by the claimants at execution. Having made substantial profits from trading their Nexo tokens, the claimants withdrew all their assets from the Nexo platform and they are not disputing this fact."
November 21st, 2022 3:26:12 AM MST CityAM Article CityAM publishes an article on the matter.
December 12th, 2022 Nexo Files Defense Nexo files a defense in the lawsuit.
December 12th, 2024 8:20:00 PM MST Concerns Not Addresses The Mortons claimed they initially informed Nexo about their concerns in December 2020 but received an unsatisfactory response.

Technical Details

This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

Total Amount Lost

The total amount lost has been estimated at $58,350,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

The total amount recovered is unknown.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.

References

  1. ↑ Stankoman comments on Nexo sued by investors prevented from withdrawing £107m crypto holdings in full (Accessed Mar 16, 2023)
  2. ↑ Stankoman comments on Daily General Discussion - December 22, 2022 (GMT+0) (Accessed Feb 2, 2024)
  3. ↑ shin_jury comments on Nexo sued by investors prevented from withdrawing £107m crypto holdings in full (Accessed Feb 2, 2024)
  4. ↑ Nexo sued by investors prevented from withdrawing £107m crypto holdings in full - CityAM (Accessed Feb 2, 2024)
  5. ↑ https://caseboard.io/cases/5bf36cd4-d306-4b19-90f0-f0bd110b2ec3 (Accessed Feb 2, 2024)
  6. ↑ Crypto lender sued for blocking withdrawals by wealthy investors - BNN Bloomberg (Accessed Feb 2, 2024)
  7. ↑ Yahoo fait partie de la famille de marques Yahoo (Accessed Feb 2, 2024)
  8. ↑ Investors Sue Crypto Lender Nexo for Blocking Accounts After $126M Withdrawal Attempts | by Crypto Saving Expert | Medium (Accessed Feb 2, 2024)
  9. ↑ Lawsuit in England Alleges Crypto Lender Nexo Prevented Withdrawals - PYMNTS.com (Accessed Feb 2, 2024)
  10. ↑ On the claim made by the Mortons in the High Court in England - Nexo (Accessed Feb 2, 2024)
  11. ↑ Transaction: 4fbb4a4e0af1b3c767d1fb5a992042ee8d7b7dfde24eceea529f51c89d3276b2 - Blockchain.com (Accessed Feb 2, 2024)
  12. ↑ Ethereum Transaction Hash (Txhash) Details - Etherscan (Accessed Feb 2, 2024)
  13. ↑ Ethereum Transaction Hash (Txhash) Details - Etherscan (Accessed Feb 2, 2024)
  14. ↑ Transaction: ee92ea37873215b5041356d2ab5c3d947af062b6ddfe4a01274bf27789714247 - Blockchain.com (Accessed Feb 2, 2024)
  15. ↑ Ethereum Transaction Hash (Txhash) Details - Etherscan (Accessed Feb 2, 2024)
  16. ↑ Ethereum Transaction Hash (Txhash) Details - Etherscan (Accessed Feb 2, 2024)
  17. ↑ Nexo Homepage (Accessed Jun 12, 2025)
Retrieved from "https://quadrigainitiative.com/cryptocurrencyhackscamfraudwiki/index.php?title=Nexo_Disabling_Withdrawals_Forcing_Token_Sale&oldid=6857"