What Happened When I Requested My Account Records from Nexo - Case 2025-000001

As the founder of InvestorJustice.org, I did not set out to build a watchdog site. I started as an ordinary retirement-age investor who lost nearly $3 million in Nexo’s “Crypto Credit Line.” What followed taught me that accountability in cross-border financial products is nearly impossible and that realization is why this site exists today.

One of the clearest lessons came when I tried to exercise my legal right to request my own account records from Nexo under Switzerland’s Federal Act on Data Protection (FADP).

The Right to Your Records

Under FADP, Swiss companies are required to provide individuals with access to their personal data upon request. It’s a basic consumer right: the ability to see how your information is held, used, and processed. For an investor, this is essential. It means you can verify the terms, transactions, and records tied to your account.

My Request to Nexo

In March 2023, my US-based counsel submitted a formal records request to Nexo AG, the Swiss entity tied to Nexo’s global operations followed by request from Swiss counsel in October 2024. My request was straightforward: I asked for my account history, communications, and any internal notes or records that related to me as a customer.

This was basic legal discovery and was exactly what the law allows and protects.

Nexo’s Response

Instead of complying, in October 2024, Nexo counsel replied requiring an overly broad Power of Attorney (PoA) before they would respond to Swiss counsel. This is highly irregular, as Swiss counsel do not generally require a PoA from other Swiss counsel.

After substituting the overly broad PoA with boilerplate issued by the Swiss Bar Association, Nexo still refused to provide the records. Their replies were evasive and circular. They pointed to their terms of service and suggested I had no entitlement to information that directly concerned me.

At one point, the Swiss entity, Nexo AG, replied that they never had my records because they “never dealt with me”, despite confirmed wire transfers to their U.S.-based bank account.

In short, a global financial company, operating from Swiss soil and marketing heavily to U.S. investors, simply brushed aside a lawful request under Swiss law.

Why This Matters

This isn’t just about me. If a company can deny a legally protected records request from a retirement-age investor, what chance does the average customer have when something goes wrong?

• Investors are left without a full record of their own accounts.
• Regulators cannot easily verify facts if companies withhold or delete records.
• Jurisdictional evasion (pointing from one entity to another) leaves investors stuck in a loop.

It creates the perfect shield: a company that markets aggressively to the public, but operates with no practical accountability when its products cause harm.

The Bigger Picture

The refusal of a basic records request under FADP is not an isolated incident. It reflects a larger pattern: Nexo deleting or altering Terms of Service, scrubbing marketing claims, and structuring itself across multiple jurisdictions (Cayman, Switzerland, offshore shells) to avoid accountability.

This is why InvestorJustice.org exists. Evidence must be preserved. Patterns must be documented. And investors, particularly seniors, deserve to know what they are dealing with.

📌 InvestorJustice.org preserves the full correspondence and will provide it to regulators, journalists, or counsel upon verified request.

If you had similar experiences with Nexo or another financial company, I encourage you to share your story. Together, we can build the public record that companies would prefer to erase.