PAXFUL INC SCAMS NIGERIANS MILLIONS OF DOLLARS WORTH OF BITCOIN

[Leonardo7]

The Economic And  Financial Crime Commission (EFCC) has received a petition against an Estonia Crypto firm for defrauding lots of Nigerians of their bitcoin in an allegedly arbitrary account closure without reservations.
Meanwhile, the country apex bank governor had once warned the citizens that the people buying cryptocurrencies are gamblers. The government of Nigeria holds a neutral stand in cryptocurrency.

Source: https://cointelegraph.com/news/nigeria-financial-watchdog-receives-petition-against-crypto-exchange-over-account-closures

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[proTECH77]

They were warned by their Central Bank Governor and they yielded not to the warnings, so their Bitcoin is gone and nothing can be done to revert their investment on PAXFUL INC. This news was shared on the forum some few weeks back and not new. Thank you for your concern.

[Leonardo7]

They were warned by their Central Bank Governor and they yielded not to the warnings, so their Bitcoin is gone and nothing can be done to revert their investment on PAXFUL INC. This news was shared on the forum some few weeks back and not new. Thank you for your concern.

Your reply is harsh, bitcoin is not illegal in Nigeria neither is it legal, so the government is just been neutral as such they don't render financial advise on crypto related activities and they can't be heard reliable for any losses. This doesn't give criminal elements the authority to be defrauding her citizens. What way has the Nigeria government help her citizens despite the large oil deposit in Niger Delta of the country? Cryptocurrency has made a lot of the youth millionaires and keeps providing opportunities.

[alisafidel58]

If their accounts were blocked then there is really something going with those accounts that's why Paxful closed it. Maybe those accounts were maligned with some suspicious behavior. Paxful will not close accounts without any reason at all.

Nigerians were warned after all by their government and yet overlooked the warning.

[eaLiTy]

The Economic And  Financial Crime Commission (EFCC) has received a petition against an Estonia Crypto firm for defrauding lots of Nigerians of their bitcoin an allegedly arbitrary account closure without reservations.
Meanwhile, the country apex bank governor had once warned the citizens that the people buying cryptocurrencies are gamblers.

I am not sure how they can simply close down user accounts without giving a proper response and just citing just terms of service violation, it looks really shady from the information that is out there, but paxful is in business for some time and i am hearing about this for the first time, i personally never used their service, but closing down legit users with funds and never return them is insane.

[Bitinity]

The Economic And  Financial Crime Commission (EFCC) has received a petition against an Estonia Crypto firm for defrauding lots of Nigerians of their bitcoin an allegedly arbitrary account closure without reservations.
Meanwhile, the country apex bank governor had once warned the citizens that the people buying cryptocurrencies are gamblers.

I am not sure how they can simply close down user accounts without giving a proper response and just citing just terms of service violation, it looks really shady from the information that is out there, but paxful is in business for some time and i am hearing about this for the first time, i personally never used their service, but closing down legit users with funds and never return them is insane.

Paxful said that there is a reason for those suspended/blocked accounts but they do not give the exact reason as I can see from the news. Account suspension with no clear reasons and without informing the owner of account is a bad service. I have never tried this service as well to be honest, but this kind of news which makes people worry to invest their money into bitcoin.

[Ailmand]

Actually it is great that people from Nigeria has balls to complain about this, in our countries there are a lot of companies who has the same scheme who uses crypto to attract people. They actually go on server maintenance every time it's time to pay out dividends to investors and they keep on making excuses to delay payment. And yet, no one had balls to make legal actions against the people behind the scam. This companies once caught would create another company and just change their name with almost the same scheme, and people keep falling in such investment scam. Our government is also neutral against cryptocurrency investment and just spreading words to be careful with their investment.

[bitperson]

Nigerians being scammed by Westerners? Where is this world heading to?

[Haunebu]

Damn. I usually hear stories of the opposite kind which is why this is something different. This is the first time that I am hearing about Paxful, but this is certainly not the first time I have heard about something like this happening in this market.

Honestly, the government needs to try and help their citizens rather than refuting their allegations in such a manner.

[cryptobae10]

That’s the situation that happens when there are so many adopters of a single peer to peer platform
And it’s a reason why bitcoin or altcoin hodlers have to keep their (huge) funds in a cold storage

Imagine someone keeping 12 bitcoin on paxful, is Paxful trezor  wallet ?
Anyone can be tempted with money dude; even paxful owner

[Butterscotch Cartman]

Nigerians being scammed by Westerners? Where is this world heading to?

lmfao I know right, about time these dirty niggerians got a taste of their own medicine.

[akamit]

Nigerians being scammed by Westerners? Where is this world heading to?

What makes you think Westerners doesn't scam?
Every country, society, religion have bad peoples and westerners are not different here over third world countries.

[Bitcoin_Arena]

Nigerians being scammed by Westerners? Where is this world heading to?

lmfao I know right, about time these dirty niggerians got a taste of their own medicine.

Quite a kiddish response if I would say. Is there any country that does not have scammers?
Any what makes you think that all people from a specific country are scammers if you were scammed by one?

-snip-

Never used Paxful before but this is really a bad move by them. I don't like services that just block or suspended people's accounts with money in it without any warning or message about the suspension at all. It's scammy to me.

[Timmzzy]

The Economic And  Financial Crime Commission (EFCC) has received a petition against an Estonia Crypto firm for defrauding lots of Nigerians of their bitcoin in an allegedly arbitrary account closure without reservations.
Meanwhile, the country apex bank governor had once warned the citizens that the people buying cryptocurrencies are gamblers. The government of Nigeria holds a neutral stand in cryptocurrency.

Source: https://cointelegraph.com/news/nigeria-financial-watchdog-receives-petition-against-crypto-exchange-over-account-closures

I could remember the good did which many enjoyed the transaction of paxful to paxful without fee now paxful to scam today was a real big shock to me. I have never make used of their services due to I came to understand escrow services and Luno as well. None is to be trusted in life any more but we just hope for the best. This alone does give bad image to bitcoin and also getting to restrict most countries to adopt in.

[Maestro75]

If their accounts were blocked then there is really something going with those accounts that's why Paxful closed it. Maybe those accounts were maligned with some suspicious behavior. Paxful will not close accounts without any reason at all.

Nigerians were warned after all by their government and yet overlooked the warning.

You miss the line here with your comment. Nigerians were warn about bitcoin generally and not about a particular exchange because the Nigeria government thought bitcoin is a scam. Again why did Paxful allow Nigerians register on it site in the first place? Now it is finding an excuse to prevent them from withdrawing

[joniboini]

So sick of hearing things like this keep happening. Even if they block users account without any warning, then the best thing they could do is to return any money left on their account to the address that the users wanted. What a joke to allow them to deposit their bitcoin and then block them due to "violations of terms of services" that is not even clear.

People should stop using services like this. Or maybe consider your money gone if you use this service, so there's not too much disappointment if it's your turn to get scammed.

[Beerwizzard]

Coin telegraph is not the most shitty crypto website but this news don't seem trustworthy. When everyone knows that nigeria is is a poor country with a huge inflation and now you say that nigerians lost millions only in paxful. Just imagine how much crypto they should have in total, excluding paxful. I guess that if nigerians really had that much coins they would probably leave this country and find a better place to live. There is a plenty of better places in africa.

[CryptopreneurBrainboss]

Coin telegraph is not the most shitty crypto website but this news don't seem trustworthy.
<***>
 I guess that if nigerians really had that much coins they would probably leave this country and find a better place to live.

Nigerians do own that amount of bitcoin but since buhari's government, let's just say Central Bank of Nigeria don't approve of the technology (currency) most people hide their wealth and don't declare their hodlings openly like the westerners do. that's why they trust their fund to this centralized exchanges and most times they get scammed or get extorted in regards to high fees or through suspending their funds. In my thread The used of Bitcoin in Africa Nigeria is ranked NO1 when it comes to trading in Africa and the volume gap it has with other country is unbelievable. So I strongly believe cointelegram's informations are accurate.

[FoBoT]

One of the major reason people got involved into cryptocurrency is because it promotes anomity, unity and freedom an economy that does not have central control and void of government control.

Such incidence that happened to the Nigerians should be seen as the problems of the whole crypto-world because it can happen to any country or person.

Governments all over the world warn their citizens about crypto and yet we are all here looking for freedom and happiness.

Paxful should be brought to book if foud guilty because the btc market can bleed if such amount of btc is dump into the market at once.