By: Eva Baxter
Crypto lending platform, Nexo, is seeking a staggering $3 billion in damages from Bulgaria, following a 'politically motivated' investigation that it claims caused significant harm to its reputation and financial standing. Concurrently, the cryptocurrency realm faces security threats as hackers target crypto email lists, deploying phishing attacks that have led to the accumulation of over $600,000.
An employee of MailerLite, an email marketing service, was unveiled as the vulnerable link, having been phished, thus granting unauthorized internal access to systems. Meanwhile, Nexo conveyed that it would have successfully closed an $8 billion raise had it not been for the damaging reputation effects of the office raid in Bulgaria. The altercation has culminated in Nexo issuing a lawsuit, claiming the country's actions were 'wrongful and politically motivated'.
Both incidents underscore the prevailing risks within the crypto sector, both from the perspective of data security and the potential for regulatory implications impacting business operations.
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