The CEO of Binance has publicly stated that 'Binance Nigeria Limited' is a fraudulent entity and has
On Sunday, Changpeng Zhao, the CEO of Binance, took to his verified Twitter account to announce that "Binance Nigeria Limited" has been identified as a fraudulent entity by the world's largest cryptocurrency exchange, Binance.
Zhao explicitly labeled the Nigerian subsidiary of the crypto exchange platform as a scam. In response, Binance has taken action by serving a cease and desist notice to the fraudulent party operating under the name "Binance Nigeria Limited."
The Nigeria Securities and Exchange Commission (SEC Nigeria) has recently made a declaration regarding the operations of Binance Nigeria Limited in the country, stating that it is illegal.
According to the commission, Binance Nigeria Limited is not registered or regulated by them, and its activities within Nigeria are considered unlawful. The SEC Nigeria emphasizes that any individual from the investing public who engages with this entity does so at their own risk.
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