They claimed that Nexo offered interest earning accounts without registering the customers into their platform. 

Without insight to these financial records, state regulators contend investors cannot make stated investment decisions. 

Nexo states that only one asset earns an interest rate at 36% without any advertisement.

Celsius which offered similar services filed for bankruptcy. 

The terms and conditions of Nexo said the company could deploy customer assets at its "sole and absolute discretion." 

According to studies, Nexo didnot involve themselves in any sort of uncollateralised loans.