- This information was confirmed by the company’s CEO Changpeng Zhao
- He also claims that the exchange has filed a formal request to liquidate the rogue venture
In early June, Nigeria’s securities regulator issued a public order to terminate Binance Nigeria Ltd.. Allegedly, the exchange has not registered as a service provider, and therefore cannot offer its services in the country.
The situation has caused a certain resonance in the network. But as it turned out later, Binance does not have a local market presence. Apparently, fraudsters have taken advantage of the platform’s brand.
Changpeng Zhao, the company’s CEO, said. On his Twitter page he shared the news that Binance had filed a “Cease and Desist Letter”, a formal request to refuse potential fraudulent activities under another name.
“Don’t believe everything you read in the news,” Zhao summarized.
It is not known whether those affected by the fake “unit” of Binance. After the letter from the official company, the counterparty must cease operations. Otherwise, it will face the court and considerable expenses. It is interesting that before that Binance left the market of the Netherlands, Canada, Australia and even Cyprus.. Obviously, the exchange is facing some pressure in some jurisdictions, which is only intensifying amid a lawsuit from the SEC in the United States.
The exchange is facing some pressure in some jurisdictions, which is only intensifying amid a lawsuit from the SEC in the United States.