According to Cryptoslate, Nexo wallet product lead Elitsa Taskova said in the podcast SlateCast that Nexo co-founder Antoni Trenchev has sternly denied the allegations against the company. According to Taskova, one of the main differentiators of the Nexo wallet is the combination of a smart wallet and a non-custodial wallet. The smart contract functionality of the wallet allows for greater flexibility and the ability to create new and innovative solutions on top of blockchain technology. The non-custodial nature of the wallet allows users to have full control over their keys and tokens. Foresight News previously reported that on January 12, the Bulgarian police raided and inspected Nexo’s offices and will investigate Nexo’s alleged money laundering and tax crimes, which resulted in the withdrawal of more than 150 million US dollars from the Nexo platform. Nexo said it would sue the Bulgarian government, saying its raids were illegal.