Author: Joe L. White, Jr.
Date: July 01, 2025
Reference: Conciliation Request – Nexo AG, Canton of Zug
Purpose
To document the technical and procedural barriers that have obstructed my access to critical account history on the Nexo platform, including behavior suggesting systemic record degradation or concealment following liquidation.
Factual Background
In the aftermath of my account liquidation, I attempted to reconstruct a complete, accurate, and auditable timeline of my account activity, including loan-to-value thresholds, liquidation triggers, and collateral movements. Nexo does not allow external API access to account data and manual, periodic exports are possible but unclear how thorough they are. With high confidence, the account export feature from Nexo’s web/app interface does not offer full account transaction details:
- Log entries are truncated and inaccessible after liquidation.
- Historical loan-to-value data was never disclosed pre-event and is not made retroactively visible.
- Transaction exports are incomplete, lacking precision timestamps, event references, or pricing mechanics.
This is not a technical oversight. It appears to be a deliberate architecture that leaves the investor unable to verify or challenge the liquidation process after the fact.
Evidence of Structural Information Asymmetry
Nexo maintains full internal access to:
- Margin engine logic and triggers;
- Time-stamped asset prices at moment of liquidation;
- Full collateralization ratios and lending protocol thresholds.
Meanwhile, claimants like myself are denied this information even when explicitly requested in writing, including via Swiss FADP-compliant data requests.
To this day, I have not received a full transactional log, pricing history, LTV details, or visibility into platform-side events leading to the collapse of my position.
Procedural Impact
This lack of transparency and data inaccessibility has created multiple procedural disadvantages:
- Material disadvantage in legal preparation: I am unable to independently reconstruct what occurred without access to a full transactional record. My legal counsel remains reliant on internal Nexo disclosures that have not been forthcoming.
- Increased risk of delay and cost: The absence of proper documentation complicates the conciliation and any potential litigation stages, as essential facts are only accessible to the respondent.
- Violation of the Swiss Federal Act on Data Protection (FADP): Despite repeated and lawful data access requests under the FADP, Nexo AG has failed to provide a complete record of account activity, system-side triggers, or relevant timestamps. I assert that this constitutes a violation of my right to access personal data under Swiss law.
- Ethical and reputational concern: Nexo’s platform design allows it to control all post-liquidation narrative and evidence. That power imbalance makes it impossible for harmed users to challenge what occurred, creating the appearance, if not the fact, of record suppression.
Statement of Intent
This annex is submitted in support of a good-faith civil conciliation request under ZPO Art. 202–204. The claimant asserts that the conduct described herein warrants regulatory attention and damages due to misrepresentation and unsupervised financial intermediation. No proprietary platform information is disclosed, and all references are based on claimant usage, public materials, and industry guidelines.
Disclaimer
This document is submitted in good faith, based solely on the claimant’s personal experience and publicly available facts. No confidential or privileged information has been disclosed. All statements reflect the claimant’s beliefs or recollections unless otherwise indicated. Names of third parties are anonymized or redacted where not publicly implicated. The purpose of this release is transparency, accountability, and resolution not defamation or harm.
Legal Context Note
This annex was authored solely by the claimant as part of a lawful civil conciliation filing under Articles 202–204 of the Swiss Civil Procedure Code (ZPO). It does not contain any confidential statements made during the conciliation hearing, nor does it disclose settlement terms or other protected materials governed by ZPO Art. 205.
The annex is based exclusively on:
- Personal experience,
- Publicly available information, or
- Facts the claimant is legally entitled to share.
Its purpose is to document the legal and factual basis for the claimant’s grievance, promote transparency, and serve the public interest where legal oversight may be insufficient.
The annex adheres to Swiss privacy and defamation standards under ZGB Art. 28, the Data Protection Act (DSG), and applicable banking/professional secrecy provisions (BankG, StGB Art. 321).
It is not an official court document, and no information disclosed herein was obtained through the hearing process.