Popular crypto exchange, Binance, announced through a blog post on its website that it had restricted 281 Nigerian accounts, and some were based on the request of International Law Enforcement.
This blog post came after complaints by some Nigerians that their Binance accounts have been suspended for months, and the customer service team was paying them no heed. According to a Twitter user that goes by the name, @broteejay, “I’m also a victim of this. Binance suspended my account from last November till now, tried all means of retrieving it but all in vain with coins worth 400k…
Still struggling from the depression 😪
#Binancestopscammingnigerians
#BinanceStopScamming”
Changpeng Zhao, the CEO of Binance, signed the post addressing the situation that some Nigerians are facing on the exchange. Zhao noted in the blog, “Some 281 Nigerian accounts have been affected by these personal account restrictions with approximately 38% of these cases restricted at the request of international law enforcement.”
Out of the accounts that had been restricted by the crypto exchange, 79 cases had been resolved. The letter added that those suspension cases that were not linked to law enforcement will be resolved within two weeks.
Zhao added in the letter that Binance was sorry for the inconveniences that may have been linked to “delays in resolving your customer support requests.”
The post went on to state that “protection mechanisms such as KYC, anti-money laundering measures, collaboration with law enforcement, and account restrictions are in place to ensure our community remains protected and that fraudulent activity is prevented. This is a global approach applied in every country.”
Zhao stated that Binance had strategies to rebuild the trust of their Nigerian users, and to do this, the exchange will be “devoting more customer service personnel to the region: We will dedicate more CS and risk agents with a great understanding of the Nigerian market.”
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