How safe is Nexo,
really?

Instead of a vague 'trusted' badge, we grade Nexo on five concrete, checkable criteria — each with sources. Here's exactly how it scores.

Grade

3 of 5 checks passed

Computed automatically from public data. Higher is safer.

The five checks

Criterion by criterion, with sources

5 criteria · check each one

✗

Regulation

In January 2023 — SEC settlement of $45M over securities-law violations (the Earn Interest product was deemed an unregistered security). Source →
✓

Proof-of-Reserves

Publishes a daily Real-Time Attestation by Moore (replaced Armanino in late 2022). Reserves cover liabilities 100%+. Source →
✓

Flexible withdrawal

Flexible Earn is available for most assets. Fixed-term offers a higher rate but with a lock. Source 1 → Source 2 →
✓

Insurance Fund

$775M insurance via BitGo and Ledger Vault. Covers all hot-wallet assets. Source →
✗

Track record (2+ years incident-free)

SEC settlement January 2023 ($45M fine). Bulgarian authorities raided Nexo's Sofia offices in January 2023. Closed US products after regulatory pressure; relaunched in the US in February 2026 with a compliant framework via Bakkt. Source 1 → Source 2 → Source 3 →

Track record

Incidents we count

Known incidents

January 2023 SEC settlement of $45M for securities-law violations. The Earn Interest program was closed for US users. Source →
October 2022 Office raid by Bulgarian financial police over money laundering and tax-violation allegations. Source →

Current rates

Current earn rates on Nexo

DOT	8.5 %	flexible
ATOM	6.0 %	flexible
USDT	5.5 %	flexible
USDC	5.5 %	flexible
TRX	4.25 %	flexible

Bottom line

Verdict

⚖️

Verdict. Nexo passes 3 of 5 safety checks (grade C) — middle of the pack. It clears some bars but not all; size your deposit accordingly and don't chase its highest promotional rates.

Full Nexo rates → How we grade