Investors Sue Nexo For Blocking $126M Worth Of Crypto

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Antoni Trenchev; Photo Source: Govorni Otkrito (Говори открито)

Three investors filed a lawsuit in the London High Court against crypto lender Nexo for blocking them from withdrawing their crypto assets.

In a court filing submitted in September 2022, Jason, Own, and Shane Morton claimed that they were forced to sell “millions of Nexo tokens” at a 60% discount to Nexo after the latter threatened to block them from pulling out their assets. Back then, the Mortons’ holdings on Nexo reportedly consisted of Bitcoin (BTC), Pax Gold (PAXG), Stellar (XLM), and Nexo (NEXO) tokens.

The Mortons also alleged that Nexo froze their accounts after they tried to withdraw their assets out of the platform.



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In response, Nexo announced its intentions to defend against the Mortons’ claims by enlisting its solicitors, Eversheds Sutherland. Nexo remarked that the Mortons’ actions were opportunistic as the case was closed in 2021, adding

“The claimants used the Nexo platform to make several sizeable and lucrative transactions, notably involving their NEXO tokens. These transactions included fixed term arrangements, and the subsequent sale of their NEXO tokens.”

The crypto lender also noted that the claimants documented their sale of $NEXO and other transactions as final. Furthermore, Nexo pointed out that after receiving the profits from selling their $NEXO holdings, the Mortons withdrew their remaining assets from the platform.

Written by
Ayush Pande

Three investors filed a lawsuit in the London High Court against crypto lender Nexo for blocking them from withdrawing their crypto assets.

In a court filing submitted in September 2022, Jason, Own, and Shane Morton claimed that they were forced to sell “millions of Nexo tokens” at a 60% discount to Nexo after the latter threatened to block them from pulling out their assets. Back then, the Mortons’ holdings on Nexo reportedly consisted of Bitcoin (BTC), Pax Gold (PAXG), Stellar (XLM), and Nexo (NEXO) tokens.

The Mortons also alleged that Nexo froze their accounts after they tried to withdraw their assets out of the platform.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


In response, Nexo announced its intentions to defend against the Mortons’ claims by enlisting its solicitors, Eversheds Sutherland. Nexo remarked that the Mortons’ actions were opportunistic as the case was closed in 2021, adding

“The claimants used the Nexo platform to make several sizeable and lucrative transactions, notably involving their NEXO tokens. These transactions included fixed term arrangements, and the subsequent sale of their NEXO tokens.”

The crypto lender also noted that the claimants documented their sale of $NEXO and other transactions as final. Furthermore, Nexo pointed out that after receiving the profits from selling their $NEXO holdings, the Mortons withdrew their remaining assets from the platform.

Written by
Ayush Pande