CZ called Binance Nigeria scam entity

[blackened515]

Is it true that there is a Binance Nigeria Limited company based in Lagos Nigeria? I read where CZ said that it's a scam organization, that they are just aware of it's existence in the country? Nigerians on here can anyone confirm if this is a fact?

It's now I am even thinking about the possibility that scammers can make this happen, a exchange company that's very popular can be run in another location where there was no services from the original exchange and make it look like it's still the same company, I have heard such stories before.

Jumping into conclusions on stories reas online, ofcourse we should be extremely careful not to spread falseful news online because these news have 99% chances of trending other than the legit ones, people are really interested in the negative aspects of information, CZ never mentioned anything regarding such, and it's a very strong allegations to involved Nigeria Company in the scamming prospect of the exchange. Scammers do exists in the space, no doubts about that, but misinformation can lead to other several penalties which might be impose on the regulation of binance in the country.

[CryptSafe]

From my own point of view, I noticed that they were trying to act smart by being too quick to register that name as their own enterprise waiting for binance to make moves to Nigeria and when that happens and it seems some other people have already registered with the name, binance will have no choice than partnership with them. That was the fast game they thought of playing but it backfired and they have lost it all coupled with the new name tag they got from CZ himself which is now a dent on their name.

[Doan9269]

Is it true that there is a Binance Nigeria Limited company based in Lagos Nigeria? I read where CZ said that it's a scam organization, that they are just aware of it's existence in the country? Nigerians on here can anyone confirm if this is a fact?

Be careful of anyone claiming to be Binance because they don't have Nigeriams Binance or whatever the name may appears, we have Binance US ad Binance global, there are Nigerians working with Binance from their head office, they have maybe some representative if fee in Nigeria but am not sure, if you come across any website claiming Nigeria Binance then check them well because rhey might be scammers operating on a cloned website to impose Binance.

It's now I am even thinking about the possibility that scammers can make this happen, a exchange company that's very popular can be run in another location where there was no services from the original exchange and make it look like it's still the same company, I have heard such stories before.

Always lauch into a website from their original web address and if you don't know how to identify one, always ask others you think are reliable to help you out, they are not only attacking Binance but many other reputable organization and industries suffer their attacks of this manners.

[Mate2237]

I never hear dat kind news, and yes scammers can imposter the company. Binance might be operating online only in Nigeria. And if they are operating without registering is bad. And probably because of that Nigerian government said, Binance is operating in the country illegal. But the question is how can binance operate in the country asking customers KYC without the permission of the government. The tori is not clear for me.

[CryptSafe]

I never hear dat kind news, and yes scammers can imposter the company. Binance might be operating online only in Nigeria. And if they are operating without registering is bad. And probably because of that Nigerian government said, Binance is operating in the country illegal. But the question is how can binance operate in the country asking customers KYC without the permission of the government. The tori is not clear for me.

Abobi na so we see am o. Monkey hand really dey inside  pot of soup o. I come dey wonders how dem take dey access our bvn, nin and other documents wey dem dey requires for kyc and how dem dey takes know say the documents na original and also to dey detect fake one if dem dey claim says dem no get any link or office for Naija here.  Wonders dey say never ends o.

[Forever101]

Is it true that there is a Binance Nigeria Limited company based in Lagos Nigeria? I read where CZ said that it's a scam organization, that they are just aware of it's existence in the country? Nigerians on here can anyone confirm if this is a fact?

Story is quite impressing, like after reading the news shared by Charles-Tim, it says, Binance came to know about Nigerian Binanace exchange when SEC sued Nigerian Exchange. Like how it can be possible for binance a big exchange to bear someone using there name and benefiting themselves while real Binance is earning nothing.

 Well, let's see where this fud leads to, as nigeria is a big hub of crypto users and i am really interested to know how much traffic that local exchange was getting. I hope, if op could share the link to that exchange (local one) if it still exists.

This is something new, as scammer do make exchanges with the main purpose of scamming peoples and those are know as fake exchanges, but I did not know they would use the same name as of Binance.

What the OP said can not be all true about binance been used as a scam in a commercial country in Africa. Since binance is operating in naira, there will definitely be an insider for them in Nigeria. Also, before they could use them as scam, they will have to manipulate binance app to get users info and direct them to their office. If you carryout a transaction that is not successful, can they rectify it if they have no connection with binance. Well, if the news is correct, then there must be some kind of games going on and not scam.

I look forward to the time when the word scam will be forgotten or hardly used in Nigeria. Everyone please let's work hard to build our reputation in other boards as good citizens of this great country-Nigeria on this platform. I am tired of seen reference to Nigeria as scammer from others and even from Nigerian who wants to prove their superiority on the platform. It is high time we be our brothers keeper and build good reputation

[Faisal2202]

What the OP said can not be all true about binance been used as a scam in a commercial country in Africa. Since binance is operating in naira, there will definitely be an insider for them in Nigeria. Also, before they could use them as scam, they will have to manipulate binance app to get users info and direct them to their office. If you carryout a transaction that is not successful, can they rectify it if they have no connection with binance. Well, if the news is correct, then there must be some kind of games going on and not scam.

I look forward to the time when the word scam will be forgotten or hardly used in Nigeria. Everyone please let's work hard to build our reputation in other boards as good citizens of this great country-Nigeria on this platform. I am tired of seen reference to Nigeria as scammer from others and even from Nigerian who wants to prove their superiority on the platform. It is high time we be our brothers keeper and build good reputation

I do not recall but I think the OP didn't directly say that the Binance is used as a scam because no scam has been done according to my knowledge. Many members also mentioned in the reply that even if the Exchange was functioning in Nigeria under the name of Binance but there was no scam occurred. If there was no scam occurring with customers like stealing of money then definitely the exchange's member might be involved in this fake exchange.

I like your enthusiasm toward your country because many lack this and I think you mentioned it because the topic is in a Nigerian thread and I am not a Nigerian and still my reply lies here. That's because the OP made this topic in the Economic section (AFAIK) maybe in the BTC discussion not really confirmed but he didn't create the topic here. So, do not feel offended by my words if they hurt anyone because I meant no disrespect to anyone's country I do know the world is full of evil and good and we have to discourage evil because that's the right thing to do. We all should make good reputations and I pray you grow more.

[Buddyspa]

To me is not a problem... But i think the government is something else

[lewisroise]

To understand it better, read the content on this link: https://www.mariblock.com/nigeria-sec-warns-against-binance/

“The company [Binance Nigeria Limited] is not affiliated to Binance. It was only registered for arbitrage reasons when we thought Binance might want to set up operations in Nigeria. But that did not happen, and as you can see, it [Binance Nigeria Limited] is inactive.”

The same website just published a longer expose on the events that happened before the Nigerian SEC circular. Looks like Binance was deflecting.

The circular from the SEC came just days after the regulatory body mediated a settlement between Changpeng Zhao’s Binance and certain Nigerian users. These users had filed complaints against the exchange after suffering losses of nearly $1 million, a direct result of what they called a glitch in the exchange’s setup for leveraged token trading.

https://www.mariblock.com/exclusive-inside-the-nigerian-secs-recent-circular-on-binance/

[Wiwo]

Is it true that there is a Binance Nigeria Limited company based in Lagos Nigeria? I read where CZ said that it's a scam organization, that they are just aware of it's existence in the country? Nigerians on here can anyone confirm if this is a fact?

Be careful of anyone claiming to be Binance because they don't have Nigeriams Binance or whatever the name may appears, we have Binance US ad Binance global, there are Nigerians working with Binance from their head office, they have maybe some representative if fee in Nigeria but am not sure, if you come across any website claiming Nigeria Binance then check them well because rhey might be scammers operating on a cloned website to impose Binance.

It's now I am even thinking about the possibility that scammers can make this happen, a exchange company that's very popular can be run in another location where there was no services from the original exchange and make it look like it's still the same company, I have heard such stories before.

Always lauch into a website from their original web address and if you don't know how to identify one, always ask others you think are reliable to help you out, they are not only attacking Binance but many other reputable organization and industries suffer their attacks of this manners.

Nigerians are the most gullible people and when it comes to scam, the scheme trive so much in Nigeria, and the coming of cryptocurrencies and the decentralized market have also triggered alot of such scam up, and if one is not smart enough in this cryptocurrency space, you may records alot of loses and this is something that one need to be careful about.

Binance is a global cryptocurrency exchange so at that, many scammers will want to take advantage of the popularity of the name to be able to scam unsuspecting Nigerians, this is one such case and I guess the victim whose 1 million dollars is held in that scam exchange will not be the only victim, we may have some other members of the public who may be afraid to speak out, so I suggest the Sec should order for the arrest of those behind that scam.

[lewisroise]

Is it true that there is a Binance Nigeria Limited company based in Lagos Nigeria? I read where CZ said that it's a scam organization, that they are just aware of it's existence in the country? Nigerians on here can anyone confirm if this is a fact?

Be careful of anyone claiming to be Binance because they don't have Nigeriams Binance or whatever the name may appears, we have Binance US ad Binance global, there are Nigerians working with Binance from their head office, they have maybe some representative if fee in Nigeria but am not sure, if you come across any website claiming Nigeria Binance then check them well because rhey might be scammers operating on a cloned website to impose Binance.

It's now I am even thinking about the possibility that scammers can make this happen, a exchange company that's very popular can be run in another location where there was no services from the original exchange and make it look like it's still the same company, I have heard such stories before.

Always lauch into a website from their original web address and if you don't know how to identify one, always ask others you think are reliable to help you out, they are not only attacking Binance but many other reputable organization and industries suffer their attacks of this manners.

Nigerians are the most gullible people and when it comes to scam, the scheme trive so much in Nigeria, and the coming of cryptocurrencies and the decentralized market have also triggered alot of such scam up, and if one is not smart enough in this cryptocurrency space, you may records alot of loses and this is something that one need to be careful about.

Binance is a global cryptocurrency exchange so at that, many scammers will want to take advantage of the popularity of the name to be able to scam unsuspecting Nigerians, this is one such case and I guess the victim whose 1 million dollars is held in that scam exchange will not be the only victim, we may have some other members of the public who may be afraid to speak out, so I suggest the Sec should order for the arrest of those behind that scam.

Nobody is scamming using the name of Binance though — at least not "Binance Nigeria Limited." Have you read this piece? https://www.mariblock.com/exclusive-inside-the-nigerian-secs-recent-circular-on-binance/