ComplaintsforNexo Finance

• Initial Complaint

  01/23/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  I have contacted this company several times, stating I want my account and ALL information associated with it permanently deleted. I have received NO response.I am receiving emails wanting me to enter my crypto wallet password, I will **NOT** do this.The email associated with my account is unique to their website and has NOT been used any where else.All communication MUST be done through the BBB website, meaning NO phone calls, NO **** mail, ONLY post on the BBB formum site.REMOVE ALL MY INFORMATION IMMEDIATELY

• Initial Complaint

  12/03/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  In June 2021, Nexo liquidated my funds for a total of $190,973.96 USD from my cryptocurrency wallet on their platform (document attached detailing the liquidation transactions). This followed Nexo offering cash and cryptocurrency lending services to me and me engaging with those services. This is clearly a case of predatory lending and is punishable by law in all the countries and states where **** is currently based (**********, ********, ******* and ********). Imposing unfair and abusive loan terms on borrowers and taking advantage of a borrower's lack of understanding of complicated transactions can be prosecuted as a state crime and/or a federal crime in the United States. Nexo is currently violating the Penal Code 459 PC California's burglary law by engaging in predatory lending with me. Nexo has failed to provide enough and clear information about these loans to me, haven't replied to my calls or emails making it liable for an abusive loan claim. I have made attempts to contact **** via a lawyer, however, they have completely ignored all correspondence.Full reimbursement of the total of $190,973.96 USD that were unrightfully liquidated from my crypto currency wallet is sought. In this specific case, a clause according to which the loan must be repaid in the same crypto currency in which it was contracted must be understood by the consumer on a formal and grammatical level, as well as in terms of its specific scope, so that an average consumer, normally informed and reasonably attentive and insightful, can not only know the possibility of appreciation or depreciation of the crypto assets in which the loan was contracted, but also assess the economic consequences of said clause on its financial obligations.

• Initial Complaint

  09/14/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  I received an email verifica***n email from Nexo*** despite the fact that I had never tried to open an account with Nexo**** I sent an email to *************** informing Nexo*** that a fraud had occurred and requested that they completely remove any accounts associated with my email address. Nexo*** support replied by requesting ************* about whether they should deactivate my account or completely remove my account. I replied requesting that they completely remove my account. Nexo*** support then sent me an email saying that they had deactivated my account *as requested* (but I had *never* requested*************; I had requested completely removing my account). I sent several more emails requesting complete removal of my fraudulent account but never received confirma***n that they had removed my fraudulent account.

• Initial Complaint

  06/28/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I need my money that was charged off my debit card

  Business response

  07/26/2022

  Business Response /* (1000, 8, 2022/07/15) */ The customer was contacted several times by Nexo representatives with thorough explanation about the situation and request to provide additional documents in order to resolve the issue. She seems to have 0 understanding of the process and not to seek proper protection by the relevant law enforcement authorities if she was indeed been a victim of a hack/scam/fraud, as insisted. Nexo hereby declares that the platform has nothing in common with the claimed fraud. As until this moment, no assistance has been given on behalf of Ms. ********* in order to investigate and resolve the matter amicably. Due to the complexity of the transactional disputes, we are unable proceed unilaterally with any further adequate actions if she continues not to cooperate.

• Initial Complaint

  03/30/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I got robbed by company Nexo ************************** few days ago. It is cryptocurrency exchange company that allows people to make deposits up to 17% interest per year, take loans, exchange cryptocurrency and it even issues plastic bank cards. 03/28/2022 was a day when I successfully passed verification (providing a photo of my passport and my contact details) and made a test deposit - ****** (around 55 USD). Then I bought 10.0 MATIC for 17,2 USD and ordered a withdrawal to my cryptocurrency account. Id of transaction is ************* and my account is ****************************************** - it is not private information, on polygonscan history you can check that no transaction with 10.0 MATIC was made. By the time you review this information, the transaction will have a "Pending" status for 72 hours (against instant transactions, which they claim on the main page of the website) and the funds will be frozen on my Nexo account. Moreover, after applying for a withdrawal, my withdrawal limits were reduced to 0.0, making it impossible to make any withdrawal at all. Support, e-mail and on the website itself, either ignores any of my messages, or sends a standard script letters "we have referred the problem to management". Later, I found a lot of feedback from people who have encountered a similar situation on this website. In conclusion, I would like to say that money I was scammed of are not huge, however many people can deposit a lot and lose them as well. Also, Nexo.io still holds my private data and my document photos, making me worry about my own safety. My contact info: *******************. You can contact me anytime; I'll be happy to help you with any information about Nexo and my experience with it. Thank you very much for your attention and support.

  Business response

  07/01/2022

  Business Response /* (1000, 5, 2022/04/19) */ Dear client, We would like to thank you for taking the time to share your feedback. We value and rely heavily on customers' reviews in order to improve the quality of our services. We would also like to apologize for the inconvenience you have experienced. Please note that we have carefully reviewed your case and can confirm that we take every reasonable effort to process customers' withdrawals as soon as possible, however, there are occasions where we may be required to conduct additional checks. We would like to further confirm that you were able to successfully withdraw your assets on April 6, 2022. We hope this explanation brings further clarity on your case. We remain at your disposal should you have any further questions or concerns.

• Initial Complaint

  12/11/2021

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Nexo is advertising a 0% APR loan that is available on their platform. I took out a loan for an equivalent of $500 on 2021-12-04. The terms of the deal are that the interest is 0% as long as the loan-to-value ratio of the account is 20% or better. The fact that I qualified for these terms was confirmed in the website user interface when I was completing the loan process. This is also true while looking at the raw numbers: when I was completing the loan application, the max loan amount available at 0% APR was >$*****, which is significantly larger than the $500 that I requested. I started getting charged interest right away at the rate of 8.9% instead of the expected 0%. When I contacted customer service to look into the issue, they claimed that my account balance went below the required ratio (which is false - there were no significant changes in my account). They refused to refund the fees which were incorrectly charged, or correct the error. As a resolution, I would like to see the company update their website so that they are no longer doing false advertisement, and also refund me the fees associated with this loan (interest, plus the extra fees that I incurred when I repaid the loan early - due to being charged incorrect interest amount) Attached are my transaction history and a screenshot of the website UI demonstrating the process of taking out the falsely advertised 0% APR loan.

  Business response

  01/04/2022

  Consumer Response /* (2000, 9, 2021/12/31) */ This complaint had been resolved

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩