Cryptocurrency

Nexo resolves real-time audit outage laying insolvency rumors to rest

Nexo announced that it has resolved a bug that stopped displaying real-time audits of assets and liabilities.

A Nexo representative confirmed to CryptoSlate that the “Armanino timeout has been resolved and everything is up and running now.”

Today, the company said it had experienced similar Oracle technical issues in the past and was in contact with Armanino, a company that provides audit certification services. A previous issue with certificates was also resolved within a day.

Real-time audit issues spread rumors of bankruptcy, leaving many worried that Nexo would experience the same liquidity problems that halted withdrawals from the likes of Gemini, Genesis and BlockFi.

However, real-time audits of Nexo assets are operational and showing The company’s total assets match 100% of the customer’s liabilities. The company’s users currently hold 172,729 BTC.

nexo audit
Screengrab showing Nexo’s real-time audit proof (Source: TrustExplorer by Armanino)

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