Binance CEO Declares Binance Nigeria A Scam

The Chief Executive Officer of Binance, Changpeng Zhao, has declared Nigerisโ€™s subsidiary of the global cryptocurrency exchange platform as a scam.

Zhao declared the Nigerin operation a scam via his Twitter handle on Sunday, tweeting, โ€œBinance Nigeria Limited a scam entity.โ€

โ€œBinance has issued cease & desist notice to the scammer entity โ€œBinance Nigeria Limitedโ€. Donโ€™t believe everything you read in the news,โ€ he wrote.

Recall that the Securities and Exchange Commission of Nigeria announced that Binance Nigeria is operating illegally in the country as it is not registered or regulated by the SEC.

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