Binance CEO denies the involvement of the exchange in the scammer organization Binance Nigeria Limited
Earlier, the local regulator also issued a ruling that the firm’s activities in the country are illegal
19.06.2023 - 09:10
233
2 min
0
What’s new? On June 18, Binance CEO Changpeng Zhao announced that the exchange officially issued a cease and desist notice to the scammer company Binance Nigeria Limited. On June 9, the Securities and Exchange Commission of Nigeria (SEC) issued a ruling that the firm’s activities in the country are illegal. A spokesperson for Binance also confirmed to the SEC that the firm was not affiliated with the exchange and said it was willing to cooperate with the regulator on further steps.
Binance have issued cease & desist notice to the scammer entity "Binance Nigeria Limited".Don't believe everything you read in the news. 🤷♂️ — CZ 🔶 Binance (@cz_binance) June 18, 2023
What happened before? On June 5, Binance faced a lawsuit from the US Securities and Exchange Commission (SEC). The regulator brought 13 charges against Binance’s divisions and Zhao, including trading in unregistered securities and using customer funds. On June 17, Binance and the SEC entered into a preliminary agreement that led to the reversal of the order freezing all assets of the platform’s US arm.
Earlier, representatives of the Indian crypto exchange WazirX said that Binance controls the WRX exchange token and retains all of the proceeds from the initial exchange offering (IEO) in BNB coins to the tune of about $2 million. In this, Zhao denied any financial ties between the platforms as recently as last year.
Useful material?
Technologies
The new mechanism has already made it possible to calculate over tens of millions of fraudulent addresses
May 16, 2024
Incidents
The amount of damage amounted to $25 million in cryptocurrencies
May 16, 2024
Market
FTX customers will be compensated in cash, unlike Mt. Gox and Gemini customers who will receive cryptocurrencies
May 16, 2024
Technologies
It is available to crypto wallet users worldwide as an additional feature
May 15, 2024
Market
The ex-official known for his initiatives to explore the potential of blockchain in the financial system has joined the board of directors of a fintech company
May 14, 2024
Business
Earlier, Brad Garlinghouse claimed apparent harassment of the company by the US authorities
May 14, 2024