It has been a ruckus on different social media platform as one of the largest exchange platform Binance has been accused of scam. Some Nigerians even took to twitter to protest about it with the hashtag #BinanceStopTheScam.
The protest was about Binance has restricted some of them from accessing their wallet and also seizing their fiat currency, locking them out from even accessing their account for more than three months with an explanation or whatsoever.
But some reports are that some users got a feedback that their account was subject to fraudulent act and suspicious activities which has led to the restrictions or ban being that they act was tracked down to them.
The angriest users where the one that has nothing to do with the act or ban but their trades and activities were either put on hold or stalled for hours making them either lose their trade or miss out on opportunities.
The CEO of Binance said the reason for the ban also was due to international investigation that was ongoing and he also made a statement.
Zhao said “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.
“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.”
The number of users affected was 281 and so far about 79 have been resolved of all claims.