Bulgaria announced that it ended its investigation into Nexo on the grounds that it found no evidence of crime.

The crypto company was first probed by Bulgarian officials in January of this year. Law enforcement raided the company’s offices in an attempt to uncover alleged financial crimes, from tax evasion to fraud.

At the time, a Nexo spokesperson told Blockworks that the officials were “inquiring about a Bulgarian entity of the group that is not customer-facing but only has operational expense-related functions — payroll, customer support, back office.”

Read more: Nexo office in Bulgaria raided in sanctions probe

“There is no evidence of criminal activity in various forms…

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