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

Nexo announced that it has resolved the bug that stopped displaying the real-time audit of its assets and liabilities.

A Nexo representative confirmed to CryptoSlate that “the Armanino timeout has been resolved and it’s all up and running now.”

Earlier today, the company said it experienced similar oracle technical difficulties in the past and has been in contact with Armanino, the company providing the audit attestation service. Previous issues with the attestation have also been resolved within a day.

Problems with the real-time audit prompted rumors of insolvency, leaving many worried that Nexo would experience the same liquidity problems that led the likes of Gemini, Genesis, and BlockFi to halt withdrawals.

However, Nexo’s real-time audit of assets is up and running, showing that the company’s total assets match 100% of its customer liabilities. The company’s users currently hold 172,729 BTC.

Reporter at CryptoSlate

Armed with a classical education and an eye for news, Andjela dove head deep into the crypto industry in 2018 after spending years covering politics.