Binance blocks users in Nigeria

38% of accounts were restricted at the request of international law enforcement agencies

01.02.2022 - 10:05

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What’s new? The Binance Smart Chain crypto exchange has blocked 281 accounts in Nigeria. The exchange’s CEO Changpeng Zhao released a statement explaining the reasons for blocking Nigerian users. According to him, the restrictions were adopted to prevent fraud.

Changpeng Zhao’s statement

What else did Zhao add? The exchange’s CEO added that 38% of all affected accounts were blocked at the request of international law enforcement agencies. Binance previously joined the National Cyber-Forensics and Training Alliance.

“User security remains our top priority. We love and are devoted to our Nigerian community, but we must ensure that our users are safe.”

What is the community’s reaction? Binance’s actions have triggered a flurry of criticism from Nigerian users of the platform. Many of them are complaining that they lost access to their accounts for no reason. Hashtags #BinanceStopScamming and #BinanceStealingCrypto have appeared on the network, calling for a boycott of the platform.

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