{"id":80406,"date":"2023-06-19T12:17:32","date_gmt":"2023-06-19T09:17:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80406"},"modified":"2025-09-11T16:49:32","modified_gmt":"2025-09-11T13:49:32","slug":"binance-brands-nigeria-based-name-similar-exchange-a-scam","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-brands-nigeria-based-name-similar-exchange-a-scam\/","title":{"rendered":"Binance brands Nigeria-based, name-similar exchange a scam"},"content":{"rendered":"<p>Binance Nigeria Limited is not associated with Binance; the platform sent a &#8216;scam&#8217; organization a cease-and-desist demand to halt operations. The reaction followed the <a href=\\\"https:\/\/sec.gov.ng\/circular-on-the-activities-of-binance-nigeria-limited\/\\\">indication<\/a> <span data-descr=\\\"Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> Nigeria&#8217;s notice about the illegitimate activities of the local &#8216;subsidiary&#8217;.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Binance have issued cease &#038; desist notice to the scammer entity &quot;Binance Nigeria Limited&quot;.<\/p>\n<p>Don&#8217;t believe everything you read in the news. ?\u200d\u2642\ufe0f<\/p>\n<p>\u2014 CZ ? Binance (@cz_binance) <a href=\\\"https:\/\/twitter.com\/cz_binance\/status\/1670369403223900160?ref_src=twsrc%5Etfw\\\">June 18, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The SEC said that Binance Nigeria Limited is not registered. According to the regulator, users interacting with the platform do so at their own risk.<\/p>\n<p>CEO Changpeng Zhao urged, \u201cDon&#8217;t believe everything you read in the news.\u201d<\/p>\n<p>According to Techpoint.Africa, Binance remains committed to cooperating with the regulator.<\/p>\n<p>In January 2022, the company<a href=\"https:\/\/u1f987.com\/en\/news\/binance-ceo-explains-blocking-of-nigerian-user-accounts\"> blocked 281 accounts<\/a> of Nigerian traders to prevent money laundering and to enhance platform security.<\/p>\n<p>Earlier in May 2023, the SEC said that cryptocurrencies<a href=\"https:\/\/u1f987.com\/en\/news\/nigerian-financial-regulator-to-permit-asset-backed-tokens-while-crypto-remains-banned\"> would remain banned<\/a>. Asset-backed tokens may be exempt.<\/p>\n<p>The regulator does not intend to issue licenses to crypto platforms until it reaches an agreement on standards with the local central bank. In 2021 the latter<a href=\"https:\/\/u1f987.com\/en\/news\/nigeria-bans-banks-from-servicing-bitcoin-exchanges\"> prohibited<\/a> commercial financial institutions from providing services to Bitcoin exchanges and to companies dealing with digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance Nigeria Limited is not associated with Binance; the platform sent a &#8216;scam&#8217; organization a cease-and-desist order to halt operations.<\/p>\n","protected":false},"author":1,"featured_media":80407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,150,36],"class_list":["post-80406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-nigeria","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=80406"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80406\/revisions"}],"predecessor-version":[{"id":80408,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80406\/revisions\/80408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/80407"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=80406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=80406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=80406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}