Nexo Finance Slapped With A Lawsuit

Global Crypto News
Published on: 06.04.2021

Liquidation of assets is a normal occurence in lending platforms where users need to maintain a certain amount of LTV(Loan-To-Value) as loan requirement.

Lending platform Nexo Finance is slapped with a lawsuit from one XRP user for liquidating $5 Million of assets.

California resident Junhan Jeong has filed a complaint in the US District Court Northern District of California against Nexo Finance.

The class action lawsuit finds fault in Nexo’s liquidation of 598,384.6188 XRP when XRP price plummeted down last December without informing the plaintiff of the action.

#SmartCrypto

Related
$90M Nobitex Hack Tied to Israel-Iran Conflict
Global Crypto News
21.06.2025
$90M Nobitex Hack Tied to Israel-Iran Conflict
Stablecoins Break into Mainstream Finance
Global Crypto News
14.06.2025
Stablecoins Break into Mainstream Finance
Web3 Innovation Goes Global
Global Crypto News
07.06.2025
Web3 Innovation Goes Global
Futu’s U.S. Crypto Service and Cantor’s Expansion
Global Crypto News
31.05.2025
Futu's U.S. Crypto Service and Cantor's Expansion
U.S. Senate Advances Stablecoin Regulation
Global Crypto News
24.05.2025
U.S. Senate Advances Stablecoin Regulation
Stay Up to Date with Us
Market Stats:
BTC Dominance: 58.12%(+0.33%/24h)
ETH Dominance: 9.83%(-0.02%/24h)
Defi Market Cap: $0B(+56.30%/24h)
Total Market Cap: $2201.98B(+1.23%/24h)
Total Trading Volume 24h: $86.95B(+76.85%/24h)
ETH Market Cap: $0B
Defi to ETH Ratio: 0%
Defi Dominance: 0%
Altcoin Market Cap: $922.29B
Altcoin Volume 24h: $49.89B
Total Cryptocurrencies: 38291
Active Cryptocurrencies: 8193
Active Market Pairs: 112829
Active Exchanges: 952
Total Exchanges: 12351
BTC: 63815.24$(0.11%/1H)
ETH: 1793.26$(-0.02%/1H)
AVAX: 6.92$(-0.88%/1H)
BNB: 585.54$(0.12%/1H)
MATIC: 0$(0.95%/1H)
FTM: 0$(-0.27%/1H)
ADA: 0.18$(-0.46%/1H)
DOT: 0.89$(-0.55%/1H)
UNI: 3.2$(-0.06%/1H)
LINK: 8$(-0.19%/1H)
CAKE: 1.44$(-0.03%/1H)
SUSHI: 0.17$(0.05%/1H)
ONE: 0$(-0.29%/1H)