The world’s largest cryptocurrency exchange, Binance, has declared “Binance Nigeria Limited” a fraudulent entity. The company’s CEO, Changpeng Zhao, made the announcement on his verified Twitter handle on Sunday.
Ejes Gist News Nigeria reports that , Zhao described the purported Nigerian crypto exchange platform subsidiary as “a scam entity.” He also noted that Binance had issued a cease & desist notice to the scammer entity “Binance Nigeria Limited.”
Ejes Gist News Nigeria has previously reported that, the Nigeria Securities and Exchange Commission (SEC Nigeria) recently declared Binance Nigeria Limited’s operation in the country illegal. According to the commission, Binance Nigeria Limited is neither registered nor regulated by the commission, and its operations in Nigeria are illegal. The SEC Nigeria also warned that any member of the investing public dealing with the entity does so at his/her own risk.
This is a serious warning to Nigerian investors who may be considering using Binance Nigeria Limited. The company is not affiliated with Binance, and its operations are illegal in Nigeria. If you are considering using Binance Nigeria Limited, you should do so at your own risk.
