Binance, the world’s largest cryptocurrency exchange, on Sunday, described ‘Binance Nigeria Limited’ as a ‘scammer entity’.
Changpeng Zhao, founder and chief executive officer, disclosed this via his verified Twitter handle on Sunday.
“Binance has issued cease and desist notice to the scammer entity “Binance Nigeria Limited”. Don’t believe everything you read in the news,” his tweet read.
The Nigeria Securities and Exchange Commission (SEC Nigeria) had earlier in the month said the operation of Binance Nigeria Limited in the country is illegal.
The commission said Binance Nigeria Limited is neither registered nor regulated by the commission, and its operations in Nigeria are illegal.
It noted that any member of the investing public dealing with the entity is doing so at his/her own risk.
“The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.
“Binance Nigeria Limited is neither registered nor regulated by the Commission, and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk,” SEC earlier said in a statement.
