Nexo is being sued by UK investors for allegedly blocking $126 million in withdrawals

ChainCatcher news, the crypto lending platform Nexo has been sued in the High Court of London by three investors, who claim that Nexo prevented them from withdrawing cryptocurrency worth over £107 million (approximately $126 million). The three investors: Jason Morton, Owen Morton, and their cousin Shane Morton allege that their accounts were frozen by Nexo when they attempted to withdraw assets from the platform. The Morton brothers claim that they were subsequently forced to sell millions of dollars worth of Nexo's native token back to Nexo at a discounted price and were threatened by Nexo with a ban on withdrawals.

Nexo responded by calling the move "opportunistic," noting that the events occurred between 2020 and March 2021, while the three investors chose to file their lawsuit in October of this year. Nexo stated, "All transactions, including the sale of its Nexo Token, were fair trades, which were clearly documented and accepted by the claimants." (source link)