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Nexo Capital Blocks Investors from Withdrawals, Claims Investors

Jason Morton, Owen Morton, and Shane Morton alleged that Nexo Capital Inc. blocked them from withdrawing their assets from the exchange.They claimed that they were threatened and...
Nexo Capital Blocks Investors from Withdrawals, Claims Investors Nexo Capital Blocks Investors from Withdrawals, Claims Investors

  • Jason Morton, Owen Morton, and Shane Morton alleged that Nexo Capital Inc. blocked them from withdrawing their assets from the exchange.
  • They claimed that they were threatened and blocked and were forced to sell their tokens at discount prices.
  • The company responded that the claimants were opportunists.

Crypto investors alleged that the crypto lender Nexo Capital Inc. denied their withdrawals in March 2021, when they were blocked from pulling out over 107 million British pounds in assets from the exchange. Also, the traders complained that the exchange had frozen their accounts for almost a year, after their attempt to withdraw their holdings.

Notably, investors Jason Morton and Owen Morton, the brothers, and their cousin Shane Morton alleged that they were threatened by the company that they would be blocked from any transactions unless they sell the company’s native tokens at huge discounts. Consequently, they were forced to sell Nexo’s native tokens costing millions back to the exchange at a reduced price.

Responding to the claim, the company described it as “opportunistic”, pointing out that the investors put forward the complaint only during the last month even though the alleged incident took place the previous year.

It is significant to note that the company addressed the claimants as “sophisticated investors with high backgrounds in fintech”. In addition, Nexo declared that those investors used the platform to make “lucrative transactions”, involving Nexo’s tokens.

The response included the company’s revelation that the investors had verified and accepted all the transactions at the time of execution:

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.

Further, the company claimed that the investors have turned against the company and filed the complaint against it just after accumulating substantial profits from trading the Nexo tokens.

The post Nexo Capital Blocks Investors from Withdrawals, Claims Investors appeared first on Coin Edition.

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09-12-2022 01:54:18 (UTC+7)

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 EUR/USD1.0557Buy
 GBP/USD1.2241Buy
 USD/JPY136.60↑ Buy
 AUD/USD0.6769Neutral
 USD/CAD1.3571↑ Sell
 EUR/JPY144.21↑ Buy
 EUR/CHF0.9887↑ Sell
 Gold1,801.70Sell
 Silver23.277↑ Sell
 Copper3.8877↑ Sell
 Crude Oil WTI72.02Sell
 Brent Oil76.73↑ Sell
 Natural Gas6.110↑ Sell
 US Coffee C159.73↑ Buy
 Euro Stoxx 503,921.27↑ Sell
 S&P 5003,967.05Buy
 DAX14,264.56↑ Sell
 FTSE 1007,472.17↑ Sell
 Hang Seng19,450.23Neutral
 Small Cap 20001,817.65Sell
 IBEX 358,225.20↑ Sell
 BASF47.100Neutral
 Bayer52.73↑ Sell
 Allianz203.65↑ Sell
 Adidas117.54↑ Buy
 Lufthansa7.712↑ Sell
 Siemens AG132.00↑ Sell
 Deutsche Bank AG10.022↑ Sell
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