Describe the problem:
After importing my Nexo transactions with the help of the given API I can see ab significant balance mismatch for USD when looking into Wallets → Nexo.
While other currencies/coins having correct balances Koinly calculated in my case a 4 digit balance for USD while Nexo reported a USD balance of USD 0. As I am not holding any USD in Nexo the reported balance is correct.
Which exchange/wallet is this regarding?
Nexo
How did you import data into this wallet?
API
What have you tried to fix this so far?
When checking the CSV export created in Nexo I can see a change in Nexo in terms of used currencies:
Since 25th Nov 2025 a whole bunch of transaction types (including Credit Card Withdrawals, Exchange Credit, Nexo Card Purchases, Interests and Manual Repayments) show as input currency xUSD while before any of such transactions used USDX as input currency.
Any and all FIAT balances showing in Koinly can be disregarded altogether, as FIAT sums are not included in your crypto reports, nor will they have any effect on your reported figures.
With that said, if you wish to accurately reflect the FIAT sums, you can add deposits/withdrawals accordingly in order to bring the sum to your live balance. If for example, you have a surplus of FIAT in your wallet, you will add a withdrawal to lower that sum. If you are missing FIAT from your wallet, then you’ll add a deposit to add to the sum.
Hi, thank you very much for your support on this matter. However, I have to disagree with your conclusion that I can simply ignore the USD balance because it is “only fiat.”
As mentioned earlier, there should not be a USD balance in my case. All of these transactions must be treated as NEXO USD, which is Nexo’s USD‑pegged stablecoin.
By digging deeper I could find, that Koinly used to import “Manual Repayments” with Input Currency “USDX” from NEXO but stopped importing those “Manual Repayments” on 25th November 2025 when the symbol was changed by NEXO from USDX to xUSD.
As these are relevant crypto transactions they need to be imported by Koinly again by applying a fix.
Noteworthy: this obviously does not only affect me but most likeley all Koinly customers using the Nexo Platform.
As explained by Andreas_G I have the same problem, with Koinly showing over 56,000 USD balance of USD in Nexo, when the actual balance is ZERO. This suggests profits converted to USD and not yet withdrawn which is definitely not the case.
I have noticed a few errors during import of the Nexo CSV export file indicating “Net worth currency must be fiat” and they also mentioned “(Loan withdrawals)”.
All the Loan Withdrawal transactions show input currency USD and output currency USDT.
Meanwhile all Manual Repayment transactions show only USD for both input and output currencies, not mentioning USDT, so could this be the cause of the problem?.
In my case I used NEXO loans to leverage my trades, and paid back all those loans, but it appears Koinly has not understood those loans mentioned in the CSV files and resulted in over 56,000 USD balance that should be zero.