CRYPTO: CEO CZ, Reacts To #Binance Stop Scamming" By Nigerian Users | DETAILS

Recall that Nigerian users trended the hashtag "Binance stop scamming," accusing Binance of blocking their accounts, with others claiming that their accounts had been frozen.

The letter from CZ appears after the Binance Africa team, led by Emmanuel Babalola, the exchange's African director, Damilola Odufuwa, the exchange's PR lead, and Ben Nsikan, the community manager for Binance Africa, hosted an Ask Me Anything (AMA) session on YouTube, where the team set out to address various issues raised around social media, particularly about the world's global exchange, freezing and blocking accounts of its African use.

In the letter titled "Our commitment to User Protection," which he cited as a reaction to international law enforcement, CZ provided an update on the cases, indicating that these personal account limitations have affected 281 Nigerian accounts, with around 38% of these cases prohibited at the request of foreign law enforcement. CZ disclosed that 79 cases have been handled, and that he will "work through the rest."

"User security remains our top priority. We love and are devoted to our Nigerian community, but we must ensure that our users are safe. As such, protection mechanisms such as KYC, anti-money laundering measures, collaboration with law enforcement, and account restrictions are in place to ensure our community remains protected and that fraudulent activity is prevented. This is a global approach applied in every country.ÔÇØ

He also claimed that any issues that are not related to law enforcement will be settled within two weeks.

In addition to the letter, CZ also tweeted, "Not perfect, but transparent Apologies of the inconvenience. And thank you for your support and understanding!ÔÇØ