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

After the allegations levied towards Binance by its Nigerian customers, its CEO Changpeng Zhao (CZ), has written an apology letter titled, “Our dedication to Person Safety”, citing it as response to worldwide regulation enforcement.

Recall that Nigerian customers trended the hashtag “Binance cease scamming”, leveling lots of allegations on Binance for blocking their accounts, whereas some alleged that their accounts had been frozen.

Nevertheless, the letter from CZ surfaces after Binance Africa staff, led by Emmanuel Babalola, the African director of the trade, Damilola Odufuwa, the PR lead for Binance Africa and Ben Nsikan, the group supervisor for Binance Africa, hosted a Ask Me Something (AMA) session on YouTube, the place the staff got down to tackle varied points which were raised round social media, notably in regards to the world’s world trade, freezing and blocking accounts of its African customers, notably its Nigerian customers.

Within the letter, CZ gave an replace on the circumstances stating that 281 Nigerian accounts have been affected by these private account restrictions with roughly 38% of those circumstances restricted on the request of worldwide regulation enforcement.

CZ additionally revealed that 79 circumstances have been resolved and can, “proceed to work via others.” He additionally acknowledged that each one non-law enforcement-related circumstances can be resolved inside two weeks.

Asides from the letter, CZ additionally went forward to tweet, “Not excellent, however clear. Apologies of the inconvenience. And thanks to your assist and understanding!”