The CEOs response following the previous thread https://www.nairaland.com/6957498/binance-stop-scamming-us-nigerian#109708402

A Letter From Our CEO To Nigerians: Our Commitment To User Protection
2022-01-29
Dear Nigerian Binancians,

The Nigerian community is one that brings me great pride. Since the inception of Binance, Nigeria and Africa at large have been very special markets to us and for crypto. On hearing the concerns raised by the community, I decided to write to re-emphasize our commitment to you.

First and foremost, we are sorry for the inconvenience caused by delays in resolving your customer support requests. 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.

Some 281 Nigerian accounts have been affected by these personal account restrictions with approximately 38% of these cases restricted at the request of international law enforcement.

Regardless, we owe it to you, our users, to deliver the experience you deserve. Your trust in us is important -- and here’s what we’re doing to rebuild that trust:

Ensuring speedy resolutions of ongoing user cases tied to account restrictions: Currently, we have resolved 79 cases and continue to work through others. All non-law enforcement-related cases will be resolved within two weeks.

Devoting more customer service personnel to the region: We will dedicate more CS and risk agents with a great understanding of the Nigerian market.

Rest assured, we are working hard to attend to all customer service requests

Thank you for your continued support and patience.

CZ

https://www.binance.com/en-NG/blog/all/a-letter-from-our-ceo-to-nigerians--our-commitment-to-user-protection-421499824684903365

Una don enter one chance

Wahala don dey be dat...

Truth be told we nigerian don't understand certain rights & policies of companies...

These foreign companies keep extorting us due to our ignorance....

E touch am small. I am sure customer support will start replying Nigerians fast. I am sure abokkiis in the north don't know what's going on here though, they are Nigerians too.

Way to go. It means more personnel likely of Nigerian descent will be employed to the African market.
But wait oh, a while 38% were cases of fraud from international crime agencies. Guys we can do better.

jonili:
Una don enter one chance

How?
The explanation seems sensible. Crypt0 is global and such a large exchange will attract scrutiny

nrexzy:
Wahala don dey be dat

It's 280 accounts out of thousands. It goes that most folks who had their account blocked was cos of a serious infarction

excellence44:
Way to go. It means more personnel likely of Nigerian descent will be employed to the African market.
But wait oh, a while 38% were cases of fraud from international crime agencies. Guys we can do better.

Hehe.... The Nigerian market is one that most exchanges cannot ignore.
Binaz got loads of customers after they pushed ads on Nigerian platforms e.g Nairaland. Even @Seun had to relax his crypt0 rules when the ad revenue piled up. Same binaz is a major sponsor of AFCON.

Of late Kuc⁰in has been running loads of ads on nairaland.... there's something they're all seeing

Ok

BTCc dey dip any how u people come still dey block account to add to the injury....

They are trying to fish out fraudulent transactions.

Interesting.

Binance is not a scam but a mere gamble and not an investment platform or asset

Staking money on bullish or bearish movement of crypto is very very hard to predict, even if you are a pro in fundamental and technical analysis

2015 Naira to a dollar was ₦150
2022 Naira to a dollar is ₦415

Net loss of ₦365

2015 1 BTC to a Dollar was less than $1000, or ₦ 415,000 naira
2022 1 BTC to a Dollar is $37,917 or ₦15,760,621.

14 million naira net profit

Now Nigerian Federal Government has the mind to call Crypto fraud... If crypto making people gain value on their currency is fraud, what of Nigerian Naira that you just lost 1000% of the value of your money in 5 years

.

If you have invested 100 dollars in 2010 when bitcoin was still 1 USD. Do you know you will have become a billionaire by now. Why did they want to ban this money making scheme which have lift over 90 percent of our youth from poverty. All crypto asset are dipping this is the best chance to buying. Buy the dip! Buy the dip! Buy the dip!

Some 281 Nigerian accounts have been affected by these personal account restrictions with approximately 38% of these cases restricted at the request of international law enforcement.

O pari.

Know that Cryptocurrency itself is a fraud, worse than a Ponzi https://www.ft.com/content/83a14261-598d-4601-87fc-5dde528b33d0 and financial mania
and know peace.

Don't waste your hard earned cash on the fraud called cryptocurrency , you will lose las las in this monkey business.

There is no stable coin, it's all a fraud!
https://www.theverge.com/2021/10/15/22728253/tether-41-million-misleading-statements-fiat-currency-bitfinex-cftc

If you have never put your money in the cryptocurrency fraud, you have not lost anything! In fact, you are the clever and financially smart one for not falling for the monkey business.

In case you do not know what Monkey Business is all about; Now read this so you will know that Cryptocurrency is a monkey business fraud :













***************************************
A lot of monkeys lived near a village.

One day a merchant came to the village to buy the monkeys.

He announced that he would buy the monkeys for £100 each.

The villagers thought he was mad.

They thought how can somebody buy stray monkeys for £100 each?

Still, some people caught a few monkeys and gave them to the merchant and he gave them £100 for each monkey.

This news spread like wildfire and more people caught more monkeys to sell to the merchant.

After a few days, the merchant announced that he would buy monkeys for £200 each.

Even the lazy villagers now ran around to catch the remaining monkeys and sold them for £200 each.

Then the merchant announced that he will buy monkeys for £500 each.

The villagers started to lose sleep! They caught six or seven monkeys, which was all that was left, and got £500 for each one.

The villagers were waiting anxiously for the next announcement.

Then the merchant said he was going home for a week and when he returned he would buy monkeys for £1,000 each.

He asked his employee to take care of the monkeys he bought.

The merchant went home and the villagers were very sad as there were no more monkeys left for them to sell at £1,000 each.

Then the employee told them he will secretly sell them monkeys for £700 each.

This news spread like wildfire. Since the merchant will buy monkeys for £1,000 each, there is a £300 profit for each monkey.

The next day the villagers made a queue near the monkey cage.

The employee sold all the monkeys for £700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys.

The villagers took care of the monkeys and waited for the merchant to return.

But nobody came.
They ran to the employee, but he had already left too.

The villagers then realised that they had bought the valueless stray monkeys for £700 each and were unable to sell them.

Beware of Monkey Businesses

Real Businesses are always based on Real Products and Services; any profit that comes cheap has a question mark. For instance, invest #2m today and get #4m in 30days. You will get the first month, second month, with the urge to make more money, you invest both the interest and principal into the 3rd month. That's when they vacate.

No more monkeys business this year....

Nice and sweet promises are calculated for u which look wonderful on paper but a mirage in reality.

invest wisely

Again never engage in any form of Monkey Business in "2022".

Remain blessed and shine your eyes!!!

#copied.

FreeStuffsNG appeals to you to "Please stay off the cryptocurrency fraud/scam."

Hmmm

Make I go buy Crypto

Strength in unity

f**k binance CEO

LISTEN ATTENTIVELY

If your account is blocked on binance just know that .Somehow you received a deposit from a monitored wallet address
That probably was involved in a BTC or crypto Scam

Many of those guys complaining do not know that any BTC or any crypto *address* can be on FBI watchlist or police or government security agencies or SEC, or interpol monitoring.

If you read the tweets most of those guys complaining are mostly p2p users

Whom probably are into crypto merchandise.

They receive deposit from different random people

Not knowing Fully well how the crypto came about

If you go into Blockchain scans like etherscan

You can see where people are reporting a particular Wallet address

Many people don't know this

I saw alot of ignorance on Twitter

Many forgot that binance is a CEX

& Due to high regulations coming into crypto space

CEX have been forced to add alot of KYC verifications to their platforms.

Initially binance when it started was an anonymous exchange. Likewise KuCoin , ByBit Exchange etc all of Them were anonymous.

crypto movement can be monitored all they need to do is to just wait for you to Enter exchange.

Even some Dex addresses can be suspended

You know what happened last year during a historic $600billion dollar hack of polynetwork . They just listed the address that collected the hacked crypto on read only. They hacker later returned it & was offered a cyber security job with the firm.

Know this today

Some people sef don't know that having two binance account is against binance terms and conditions

Yes because you can use it to manipulate your p2p trading volume

& once binance finds out. You are gone.

All it takes from them is for their Active AI query to detect it

If you used all different credentials .

You have no problem but also mind you that your IP address used by the account if it remains the same always everytime for a long period of time ,it may attract binance attention.

Of course you know how serious & sensitive binance is with IP

Copied!

Nice one from great company. No Nigeria bank will even reply or attend to any customers like this. Many Nigerians have lost billions of naira in our bank here in Nigeria.

MTN can decide to wipe away your money, all they will tell u is sorry and no refundable.

God bless Binance.

God bless Crypto Users


We are billionaire in making

One love..


Thunder fire Crypto enemy.

Ok

showafrica:
E touch am small. I am sure customer support will start replying Nigerians fast. I am sure abokkiis in the north don't know what's going on here though, they are Nigerians too.

What do you mean??

Shebi I torkam say na useless crimal yahoo yahoo fraudsters account Dem block..


Every yahoo boy is a thief,
Your broda or son or cousin de do yahoo, u are related to a thief
Ur children send money to you from Yahoo, you are a bastard parent of a useless thief.

U praise "damn niggar" the nairaland shameless thief, guess what that makes you a thief
Those account altcoins should be locked forever

Jerryherd:
Binance is not a scam but a mere gamble and not an investment

I can bet my left ball, you don't even know what is Binance

excellence44:
Way to go. It means more personnel likely of Nigerian descent will be employed to the African market.
But wait oh, a while 38% were cases of fraud from international crime agencies. Guys we can do better.

I knew it.
most people complaining are either fraudsters that found Binance as safe heaven to launder their proceeds or pickers that received fraudulent money in their account.
most exchangers receive money in btc from fraudsters and that's why Binance is after them.
one thing people failed to note is that crypto is not that anonymous as people proud it and can still be traced to the end user.
that's why they where able to monitor cash inflow of those accounts and did the needful.
no sane person will ever allow his platform to be used to launder money because by doing so you're aiding fraud and FEDs won't find it funny with you.
remember the story of liberty reserve owner back in the days?
Binance owner don't want such wahala from the feds.

So the point is that with time crypto might be entirely watered down and regulated

E touch am small. I am sure customer support will start replying Nigerians fast. I am sure abokkiis in the north don't know what's going on here though, they are Nigerians too.

Keep wallowing in your self deluding ignorance. Read up:

Khalil Abubakar

Khalil (Kaduna boy) is also the CEO of Recursive Capital, an earlyon-stage crypto VC fund, supporting founders building critical web 3.0 infrastructure.

22-year-old Khalil is a Bitcoin Core Contributor on the African continent and started his contributions when he was 19.

He was appointed to the board of BTrust by Jay Z(Mijin Beyonce) and Jack Dorsey (Twitter founder), a fund with 500 BTC capital base worth N10,014,265,775.40 ($24,426,230), without any oversight from Dorsey or Jay Z.