Nexo, the beleaguered digital money lender, is facing increased pressure from regulators to work as its offices are reported to have been raided as part of an international investigation.

According to the Bulgarian local news agency Standart on January 12, a team of prosecutors, investigators and foreign agents searched the company's office in Sofia, the capital of Beijing, Bulgaria.

According to reports, the operation was launched two months ago and the overall goal is a large-scale financial crime program, which is said to involve money laundering and violation of international sanctions against Russia. The report quoted Bulgarian state television as saying that Nexo had participated in the program.

Bulgarian state television also elaborated on these so-called contacts between Nexo and Bulgarian government departments, making it clear that Nexo was founded through former legislator Howard Trentchev and Giorgi Shulev, the eldest son of former Deputy Prime Minister Lydia Shouleva.

Nexo acted quickly on this latest development, assuring the community on Twitter that the company has been following the world's login password policies and regulations, and has implemented strict compliance management measures to fully understand your current user policies.

Unfortunately, with the recent impact of regulators on data encryption, some regulators have recently implemented a kick-and-ask approach. In corrupt countries, this is close at hand with blackmail, but it will pass.

Nexo, founded in 2018, operates a digital money management platform that also allows customers to invest in shares and make loans using locked collateral. The company first encountered difficulties abroad in 2022, and the California Department of Financial maintenance and Innovation submitted a termination and prohibition order to the overall loan interest service program in September. After failing to find a conversation with local regulators, Nexo finally decided to phase out its operations in the US.