Complaint Review: NEXO FINANCIAL LLC - HAWTHORNE california
NEXO FINANCIAL LLC Nexo Financial Services Ltd., Nexo Services Ou, Nexo AG, Nexo Capital Inc. deplorable unconscionable Nexo freezing millions customers crypto assets for no reason without court order HAWTHORNE California
I'm writing this RipOff Report in an attempt to expose the deplorable activity of Nexo Financial LLC, Nexo Financial Services Ltd., Nexo Services Ou, Nexo AG, and Nexo Capital Inc. (Collectively referred to as Nexo)
My husband works at Nexo, but let me state only because he really needs the work right now to support our family. As an employee of Nexo my husband shared inside information about how Nexo takes advantage of customers.
What he described to me was deplorable, unconscionable, and what I consider illegal. Information about Nexo manufacturing price "flash crashes" ( Such as a manufactured price crash on February 22nd 2021) and the liquidation of customers' crypto assets. Manipulation of interest paid to customers, and hidden fees of prepayment penalties. Meanwhile Nexo prominently advertises "no hidden fees" and no transaction costs to acquire new customers in worldwide masses.
He said that he has seen Nexo makes tens of millions of dollars through what is called "price slippage". Where Nexo platform allows only small transactions when customers are selling crypto assets or paying back Nexo loans. Nexo does this so customers are forced to make many multiple individual transactions versus one larger transaction like you would be allowed on any other exchange. Every time a transaction occurs he said "customers loose track of prices this way", while Nexo makes 4-5 times industry exchange fees in the process.
Finally, cases of Nexo freezing customers crypto assets for no reason without court order, and without informing the customer. He said that Nexo purposely does not have a phone number for support, and understaffs live chat to force customers to give up hope, to stop contacting them about their Nexo issues. Then at times Nexo blocks live chat from the customers account when Nexo does not want to deal with their issue or problem. And customer cases where Nexo froze a customer's crypto assets based on "friends from coinbase" asking Nexo to mess with Nexo customers assets for "personal reasons", and the person ended up loosing over $2.5 million dollars while the market dumped.
With Nexo its truly a case of "not your keys, not your crypto". Be very careful not to place your trust with Nexo. Liquidations, manipulation, manufactured price crashes and more. Consider yourself warned that Nexo will hurt its own customers in one or more of the ways described in this RipOff Report.
NEXO FINANCIAL LLC
Company Number 201904010011
Jurisdiction California (US)
Branch Branch of NEXO FINANCIAL LLC (Delaware (US)
3501 JACK NORTHROP AVE OFFICE AHT628
HAWTHORNE CA 90250
KOSTA KALINOV KANTCHEV
This report was posted on Ripoff Report on 05/29/2021 04:46 PM and is a permanent record located here: https://www.ripoffreport.com/report/nexo-financial-llc/hawthorne-california-services-1508491. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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