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Nexo-Linked Addresses See Outflows of Nearly $9M Amid Rising FUD

On-chain data shows that addresses related to crypto lender Nexo are recording outflows following news of financial crimes investigations by the Bulgarian government.

Crypto intelligence platform Arkham Intelligence dashboard showed that the crypto lender had seen outflows of roughly $9 million since the news broke.

A breakdown of the transactions showed that Nexo’s address, 0xFfe, saw the majority of the withdrawals.

According to the data, the withdrawals were populated by transactions from retail investors who majorly deposited to centralized exchanges like Binance, Kraken, etc.

Nexo FUD
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