Crypto Exchange Binance limits 281 Nigerian accounts - some of international law enforcement authorities requested - exchanges
Crypto Exchange Binance limits 281 Nigerian accounts - some of international law enforcement authorities requested - exchanges
The cryptocurrency exchange Binance has limited 281 Nigerian user accounts. Care for user security and fraud prevention, CEO Changpeng Zhao said that "about 38 % of these cases [are] restricted to the request of international law enforcement."
The cryptocurrency exchange Binance has sent a letter to its Nigerian users. In the letter, Binance CEO Changpeng Zhao (CZ) apologized for the inconvenience caused by delays in processing customer support inquiries. ZHAO found that the "user security" remains the top priority of its stock exchange and explained: "Protection mechanisms such as Kyc, measures to combat money laundering, cooperation with law enforcement agencies and account limits are available to ensure that our Community remains protected and that fraudulent activities are prevented. This is a global approach that is used in every country becomes." The CEO added: about 281 Nigerian accounts were affected by these restrictions on personal accounts, with about 38 % of these cases being restricted to request from international law enforcement authorities. Zhao continued to highlight what Binance is doing to restore confidence in the Nigerian community. Firstly, he said that Binance "ensures that quick solutions on current user cases are connected to account limits" and noted: At the moment we have solved 79 cases and continue to work on others. All cases not related to law enforcement are solved within two weeks. Another area that is addressed is "more customer service staff for the region". Zhao emphasized: "We will use more CS and risk agents with a great understanding of the Nigerian market."
Recently some Nigerian users of Binance a campaign of the platform Freeze their accounts. "Sometimes we limit accounts to protect the funds of the users. In other cases, we have to limit accounts at the request of the law enforcement authorities. But we will never restrict accounts for no good reason," said Binance last week. The cryptocurrency exchange was examined in a number of jurisdiction worldwide, including Pakistan, Canada, the USA, Great Britain, South Africa, Australia, Norway, the Netherlands, Hong Kong, Germany, Italy, India, Malaysia, Singapore, Turkey and Lithuania. In August Binance said that compliance with legal regulations will make top priority. The company moves from a decentralized business model because it develops from a technology company to a financial services company. What do you think that Binance restrictions 281 Nigerian accounts? Let us know in the comment area below. Bedy verification : Shutterstock, Pixabay, WikiCommons 281 Nigerian accounts were restricted by Binance, CEO says that 79 cases were solved
