Nigerian Users Tell Binance ‘Stop Scamming’ — Exchange Platform Rejects Accus...
Some disgruntled Nigerian users of the cryptocurrency exchange Binance have launched a campaign to boycott the platform, which they accuse of freezing client accounts without valid reason. Accounts Blocked Cryptocurrency exchange platform Binance recently became the target of a boycott campaign initiated by disgruntled users in Nigeria. Using the hashtag #Binancestopscamming, the campaigners are urging other Binance users around the African continent to join them in registering their displeasure with the exchange. According to a report in the Premium Times newspaper,....
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A Nigerian court has rescheduled the hearing of a tax evasion lawsuit against Binance and some of its executives to May 17. This adjournment represents the latest development in the ongoing regulatory saga between various agencies of the Nigerian government and the Malta-based cryptocurrency exchange. Related Reading: Impending Extradition? Nigerian Authorities Trace Fleeing Binance Exec […]
Cryptocurrency exchange Binance has restricted 281 Nigerian user accounts. Citing user security and fraud prevention, CEO Changpeng Zhao explained that “approximately 38% of these cases [are] restricted at the request of international law enforcement.”
281 Nigerian Accounts Restricted by Binance, CEO Says 79 Cases Have Been Resolved
Cryptocurrency exchange Binance has sent a letter to its Nigerian users. In the letter, Binance CEO Changpeng Zhao (CZ) apologized for the inconvenience caused by delays in resolving customer support requests.
Noting....
Crypto exchange Binance is the largest exchange in the world and one of the most widely used exchanges in Africa. It has found a market of loyal users in the Nigerian youth who have turned to crypto to combat growing unemployment and inflation rates in the country. Given this, the crypto exchange has founded a […]
The Binance CEO has announced that they restricted the 281 personal accounts of Nigerian users due to a need for compliance with international money laundering laws. The growth of cryptocurrency crimes has been a significant reason for using and enforcing securities laws. Changpeng Zhao, the CEO of Binance, wrote an open letter on Saturday addressing […]
In a recent development, Richard Teng, the CEO of Binance, has confirmed the company’s close cooperation with Nigerian authorities following the detention of its head of financial crime compliance, Tigran Gambaryan. Gambaryan and another Binance official are facing accusations of laundering over $35 million. According to a Reuters report, the Nigerian court has adjourned the […]