One day after the SEC filed legal action against Ripple in December 2020, Nexo suspended XRP. Now, one California resident is suing Nexo for $5 million in losses from the move.
Users Lose $5M in Nexo Debacle
The lawsuit has been filed by Junhan Jeong, a California resident who had taken out a fiat loan from Nexo using their XRP holdings.
The lawsuit alleges that “Nexo acted in bad faith” by suspending XRP payments for loans and...