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    8 Ways to Protect Your Business from Cyber Threats

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    8 Ways to Protect Your Business from Cyber Threats

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    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

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  • HOME
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    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

  • ENTERTAINMENT
    • All
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    • Gist / Viral
    • Music
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    EFCC-France Partnership Signals a New Era in Nigeria’s Fight Against Cybercrime

    EFCC-France Partnership Signals a New Era in Nigeria’s Fight Against Cybercrime

    Top 9 Venues in Nigeria for Concerts and Large Gatherings

    Top 9 Venues in Nigeria for Concerts and Large Gatherings

    P-Square Family Feud: Jude Okoye Arrested for ₦1.3 Billion Fraud

    P-Square Family Feud: Jude Okoye Arrested for ₦1.3 Billion Fraud

    the largest music market in Africa

    What is the Largest Music Market in Africa?

    What is the Ranking of Nigeria's Music Industry in the World?

    What is the Ranking of Nigeria’s Music Industry in the World?

    how do I get Netflix to fund my film as a Nigerian?

    How Do I Get Netflix to Fund My Film as a Nigerian?

    can I sell my movie to Netflix as a Nigeria?

    Can I Sell My Movie to Netflix as a Nigerian?

    how to attract and secure sponsors for your film

    How to Attract and Secure Sponsors for Your Film

    different ways to fund a film

    What Are Different Ways to Fund a Film?

    • Reality TV Show
    • Nollywood
    • Comedy
    • Music
  • GIST / Social Media drama
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

  • SPORTS
    6 richest English football clubs based on their earnings in 2023/2024 season

    Top 6 Richest English Football Clubs Based on Their Earnings in 2023/2024 Season

    Who is Éric Chelle, Super Eagles' New Coach?

    Who is Éric Chelle, Super Eagles’ New Coach?

    10 top sports events o look forward to in 2025

    10 Top Sports Events to Look Forward to in 2025

    Tinubu Awards MON to each Super Eagles Player, gifts them flats & plot of lands

    Tinubu Awards MON to each Super Eagles Player, gifts them flats & plot of lands

    “You did your best. You are part of a team that brought home a silver medal which we last won at AFCON 2000" Senator John Owan Enoh encourages Iwobi

    “You did your best. You are part of a team that brought home a silver medal which we last won at AFCON 2000″ Senator John Owan Enoh encourages Iwobi

    "I understand how it feels giving you a disappointing night" Nwabali emotional as he apologizes to Nigerians after Super Eagles' lost to Ivory Coast

    “I understand how it feels giving you a disappointing night” Nwabali emotional as he apologizes to Nigerians after Super Eagles’ lost to Ivory Coast

    "I just wanted to make nigerians happy, i want them to feel good," - Super Eagles Goalkeeper, Stanley Nwabali speaks (VIDEO)

    “I just wanted to make Nigerians happy, i want them to feel good,” – Super Eagles Goalkeeper, Stanley Nwabali speaks (VIDEO)

    Ngozi Okonjo iweala Super Eagles

    “Let’s get it done” – Okonjo-Iweala urges Super Eagles to defeat South Africa

    Adapting to the Varied World of Tennis Court Types

    Adapting to the Varied World of Tennis Court Types

  • Articles & Editorials
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

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Binance CEO cites fraud as reason for blocking Nigerian users on its platform, tenders apology letter

Paulinus O. by Paulinus O.
July 14, 2022
in News, Technology
Reading Time: 1 min read
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Binance CEO cites fraud as reason for blocking Nigerian users on its platform, tenders apology letter
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Binance, an online platform for buying and trading 600+ cryptocurrencies including metaverse has reacted to allegations levied against them by its Nigerian users, its CEO Changpeng Zhao (CZ), has written an apology letter titled, “Our commitment to User Protection”, citing it as response to international law enforcement.

Recall that Nigerian users trended the hashtag “Binance stop scamming”, leveling a lot of allegations on Binance for blocking their accounts, while some alleged that their accounts were frozen.

Binance CEO, CZ issues apology letter to Nigerian users

However, the letter from CZ surfaces after Binance Africa team, led by Emmanuel Babalola, the African director of the exchange, Damilola Odufuwa, the PR lead for Binance Africa and Ben Nsikan, the community manager for Binance Africa, hosted a Ask Me Anything (AMA) session on YouTube, where the team set out to address various issues that have been raised around social media, particularly about the world’s global exchange, freezing and blocking accounts of its African users, particularly its Nigerian users.

READALSO:

8 Ways to Protect Your Business from Cyber Threats

These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

In the letter, CZ gave an update on the cases stating that 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.

CZ also revealed that 79 cases have been resolved and will, “continue to work through others.” He also stated that all non-law enforcement-related cases will be resolved within two weeks.

Asides from the letter, CZ also went ahead to tweet, “Not perfect, but transparent. Apologies of the inconvenience. And thank you for your support and understanding!”

Discussion about this post

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