Back in 2018, just a few months after Nexo launched, I made what I thought was a smart move at the time — I collateralized my Ethereum to take out a crypto-backed loan. I had accumulated a decent amount of ETH during the 2017 bull run, thanks to working in the crypto space. When the market began to dip, I was lured by the idea of holding onto my ETH while still accessing liquidity. It sounded perfect — no need to sell my assets, just borrow against them and pay back later when things recovered. Unfortunately, that decision ended up costing me everything. As the bear market deepened, my collateral was close to liquidation. To avoid it, I kept adding more ETH — throwing good assets after bad. In the end, I lost more than I borrowed, essentially giving my Ethereum away to Nexo at what felt like a 50% discount… or worse. The stress of being constantly at risk of liquidation, watching my crypto disappear into a system I no longer trusted, was devastating. Today, if I had just held my ETH — no loans, no leverage — I'd have well over $300,000. Instead, that wealth vanished through a system that in hindsight feels unfair. It wasn't just a financial loss. That moment changed the course of my life, and I haven't been able to rebuild what I once had. I no longer believe in collateral-based loans in crypto. The markets are simply too volatile, and while these platforms market themselves as tools to "hodl without selling," the reality is that you're playing with fire. I'm not here to blame Nexo alone — I made my own choices. But I want to leave this here as a warning: understand the risks before you collateralize your crypto. Consider the worst-case scenarios. Don't let short-term liquidity blind you to the long-term cost. We live, we lose, and we learn. One last reflection — there's a silent risk asymmetry no one talks about. As the borrower, I was risking high-value assets, sometimes overcollateralized, just to access a fraction in liquidity. Meanwhile, the lender had almost zero downside: if the market crashed, they liquidated my position and profited. In a volatile and expanding crypto market, this setup creates a system where the borrower takes on all the risk — and the lender reaps the rewards. It's like a casino where the house always wins — except here, the chips were my life savings.

Мошеници, крипто пирамида. Не предоставят услуги на българи защото ги е страх да не им натрошат манерките. Всичките сте за пандиза алчни лапачи.
"Nexo is an octopus of hundreds of companies without any equity, registered all over the world and in various offshore zones. The companies are its tentacles and without any external regulations and laws, they act as a financial pyramid. The brain of the system is probably in Sofia, Bulgaria but in practice, Nexo operates on the principle of Al Qaeda cells with a virtual connection with each other.

To simplify the scheme for themselves and make it seemingly liquid Nexo has its own token which is not registered anywhere and is 99% owned by them. This practically fake token has its own "liquidity" of 400 million dollars, which is a constant because no one actually trades with it because it is not in circulation, but serves as an "asset". There is false accounting, which is not even double counting, but simply a fraud with worthless papers like a game of Monopoly.

In practice, it's zero multiplied by billions, but de jure in the Nexo system it's one multiplied by however many billions its owners want.

Without this fake Nexo token, there is nothing, the money is immediately drained into offshore accounts and all their accounting is a fraud. Nexo trades as a bank any currency against crypto collateral and accepts any currency and legitimate coins for deposits against promises of high interest. The moment a gullible client deposits currency in Euros, dollars, or coins into one of the Pyramid companies against the promise of a high-interest rate of tens of %, the client practically loses his money, because he is depositing real financial or virtual assets into a bottomless pit without any rights to be returned to him because Nexo is not subject to any state or European regulations, but has its own jurisdiction subject to their interpretation at all times.

They are practically a Bank, but without assets and without regulation, but with the right to privatize foreign assets when they come across them. They only collect without returning. Real fakirs in the lowest of scams. Daylight robbers." Nexo is hit by withdrawals tsunami after Bulgaria raid office investigates alleged money laundering.