When the Client decides to pay off his Nexo loan he gets the option to use his account assets (cryptocurrency) to be cover that repayment. I’ve chosen that option. So I have clicked REPAY button, then chose my ETH portfolio to use for repayment, clicked MAX to pay ALL loans. The system showed me and amount of ETH that will be taken off my deposit to fully pay off my loan. It also calculated how much it will be in USD since the loan was in USD. There was also information that after this repayment my loan will be 0 USD. And this is what NEXO is telling you before you click CONFIRM REPAYMENT. That simply means that if you do the repayment now then all shown ETH will be deducted from your deposit account and you will own zero USD to Nexo. So I did it. I paid off my loan and was happy. But a month after when I have checked my balance I found that there is over $22K unpaid balance still on my account. Nexo explained that when I have executed my payoff transaction they actually send the transaction to the market. It took a while to sell my ETH (almost $2 million) and the market fall down at that time and cause me an additional loss of over $22K. I that case I must that Nexo is misleading the Customers when they decide to pay off the loan by paying the loan will be fully paid off. This information does not complain about the actual procedure of what they doing. The customer by clicking the REPAYMENT button receives the information that he does not own to Nexo any money. In reality, Nexo takes advantage of the falling market and charge Clients additional costs for executing the transaction and lower rates. This is absolutely unprofessional and gives the Nexo way out to make additional income on Clients. Attached are the screenshots of the misleading information and how Nexo used that information to still me $22,286.18. I have asked them to return that amount back to my account but they refused and answered that this is how it works. In that situation I need to make it public in inform all customers they will lose the money when they decide to pay off their loans using assets on Nexo account. Nexo CAN NOT be trusted. They show you information that are simply not true. In the real World it is called a Lie.
