By John Ikani
Binance CEO Changpeng Zhao has made a strong statement, labelling Binance Nigeria Limited as a fraudulent entity and cautioning the public against trusting any information they come across in the media regarding it.
In a tweet on Sunday morning, Mr. Zhao, the head of the world’s largest cryptocurrency market, officially distanced Binance from Binance Nigeria Limited.
He further disclosed that Binance has taken legal action by issuing a cease and desist notice to the alleged scammer entity.
Mr. Zhao emphasized the need for scepticism when consuming news about this matter, urging individuals not to blindly believe everything they read.
“Binance has issued cease & desist notice to the scammer entity “Binance Nigeria Limited,” Mr Zhao tweeted.
“Don’t believe everything you read in the news.”
Binance have issued cease & desist notice to the scammer entity "Binance Nigeria Limited".
Don't believe everything you read in the news. 🤷♂️
— CZ 🔶 BNB (@cz_binance) June 18, 2023
The move comes shortly after the Nigerian Securities and Exchange Commission (SEC) imposed a ban on Binance Nigeria Limited.
According to a statement released by the SEC, the entity in question lacks proper registration and regulation under the Commission.
Consequently, any involvement with Binance Nigeria Limited by members of the investing public is deemed illegal and carries inherent risks.
