{"id":62078,"date":"2022-01-29T09:02:22","date_gmt":"2022-01-29T09:02:22","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=62078"},"modified":"2022-01-29T09:02:22","modified_gmt":"2022-01-29T09:02:22","slug":"nigerian-users-tell-binance-stop-scamming-exchange-platform-rejects-accusation","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=62078","title":{"rendered":"Nigerian Users Tell Binance \u2018Stop Scamming\u2019 \u2014 Exchange Platform Rejects Accusation"},"content":{"rendered":"

\"\"<\/p>\n

Some disgruntled Nigerian users of the cryptocurrency exchange Binance have launched a campaign to boycott the platform, which they accuse of freezing client accounts without valid reason.<\/strong>\n<\/p>\n

Accounts Blocked<\/h2>\n

\n
\nCryptocurrency exchange platform Binance recently became the target of a boycott campaign initiated by disgruntled users in Nigeria. Using the hashtag #Binancestopscamming, the campaigners are urging other Binance users around the African continent to join them in registering their displeasure with the exchange.<\/p>\n

According to a report<\/a> in the Premium Times newspaper, the users\u2019 anger towards Binance stems from apparent changes made to the platform\u2019s terms of use which have resulted in certain users losing access to their funds. Similarly, on Twitter, frustrated users shared their experiences with the exchange and how efforts to get their issues resolved have proved to be in vain so far.<\/p>\n

For instance, one user named Brown-Mi alleges that Binance blocked his account and therefore his access to his portfolio\u2019s altcoins. He tweeted<\/a>:\n<\/p>\n

\n

It is enough, I am a victim. My account has been frozen for about 4 months now with over $500k, mostly comprised of alts coins. Is it a crime to be an African?<\/p>\n<\/blockquote>\n

\n
\nAnother user, Newnew \u2014 who tweeted with the hashtag #BinanceStealingCrypto \u2014 claims the exchange blocked his account some ten months ago and that no valid reason has been given by Binance so far.<\/p>\n

\"Nigerian<\/p>\n

Another user, Strong is the will, suggested that Binance was not any different from banks \u201cwho act tyrannically.\u201d\n<\/p>\n<\/p>\n

\n<\/p>\n

Binance Rejects Accusations<\/h2>\n

\n
\nMeanwhile, in its official response to the complaints, Binance Africa admitted in a tweet on January 26 that it has been restricting access to some accounts. However, the exchange insisted it only blocks accounts when there is a good reason. The exchange tweeted:\n<\/p>\n

\n

At times, we proactively restrict accounts to protect users\u2019 funds. Other times, we have to restrict accounts at the request of law enforcement. But never will we restrict accounts without good reason.<\/p>\n<\/blockquote>\n

\n
\nStill, the exchange said aggrieved users must fill out an online form which it will then use to \u201creview if and why your account is restricted.\u201d In cases where an account has been blocked at the behest of a law enforcement agency, Binance \u201cwill send you details of who to contact for [the] next steps.\u201d<\/p>\n

\"Nigerian<\/p>\n

In concluding its Twitter thread, Binance said it is \u201ccommitted to working with law enforcement agencies to ensure our community remains safe, and to prevent fraudulent activity throughout the industry. Binance is not scamming you.\u201d<\/p>\n

What are your thoughts on this story? Tell us what you think in the comments section below. <\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Some disgruntled Nigerian users of the cryptocurrency exchange Binance have launched a campaign to boycott the platform, which they accuse of freezing client accounts without valid reason. Accounts Blocked Cryptocurrency exchange platform Binance recently became the target of a boycott campaign initiated by disgruntled users in Nigeria. Using the hashtag #Binancestopscamming, the campaigners are urging […]<\/p>\n","protected":false},"author":2,"featured_media":62079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-62078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/62078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62078"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/62078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/62079"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}