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The Chief Executive Officer of Binance, Changpeng Zhao, has declared Nigeris’s subsidiary of the global cryptocurrency exchange platform as a scam.
Zhao made this known via his Twitter handle on Sunday, saying, “Binance Nigeria Limited a scam entity.”
“Binance has issued a cease & desist notice to the scammer entity “Binance Nigeria Limited”. Don’t believe everything you read in the news,” he wrote.
Zhao’s notice came a week after Nigeria’s capital market regulator, the Securities and Exchange Commission (SEC), labeled the Binance platform illegal, warning Nigerians from using it.
SEC insisted that Binance had been operating illegally in the country as it is not registered or regulated by it.
