Nexo says ‘real time audit’ error caused by technical malfunction, will be fixed soon

Nexo says ‘real time audit’ error caused by technical malfunction, will be fixed soon

Nexo responded to rumors of insolvency that sprang up on Nov. 16 after its website stopped displaying the real-time audit of its assets versus liabilities and said the attestation would be back up soon.
A Nexo representative told CryptoSlate that similar oracle technical difficulties have happened in the past and it had already reached out to Armanino regarding the malfunction. The spokesperson added:
“With previous such downtimes of the Armanino real-time attestation, the problem was resolved promptly within a day.”
Real-Time Audits
On Nov. 9, Nexo co-founder and Managing Partner Antoni Trenchev took to Twitter, saying the company has no exposure to FTX. Trenchev also pointed out that Armanino’s real-time audit evidenced the company’s solvency.
The real-time audit was first rolled out in Sept. 2021 to provide greater “transparency, security, and peace of mind” for Nexo users.
However, critics maintain that Armanino does not give an opinion on the company’s financial heal

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