EFCC, Court Freeze N548.6 Million Belonging to ByBit, KuCoin 9ja Crypto Users.

[CryptSafe]

No where dey safe again. As e be now, na just make every body dey careful as dem dey trade for p2p this time around because we no know who be who again. Make person no dey where e dey hustle go put himself for problem. As I see this notification for my page I go check online  for confirmation. For me to dey sure I still call to confirm and na true. I just quickly begin do the needful because these days careless news dey very expensive to hear and prevention is better than cure. Any matter wey involve our government for money matter na till thy kingdom come so e better to avoid than to hear story that touches the heart.

[Justbillywitt]

Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has secured an order from the Federal High Court to freeze N548.6 million in bank accounts belonging to suspected crypto users on platforms like ByBit, KuCoin, and others, over their alleged involvement in naira fluctuation activities.
The motion, dated September 3, 2024, which the court relied on to freeze the funds, casts a fresh spotlight on major foreign crypto platforms, ByBit and KuCoin, accusing them of aiding the devaluation of the Nigerian currency.

I been think say this wahala done stop since I wasn't hearing much concerning this matter anymore but yesterday, this news comes my feed and it got me worried because innocent people go also follow for this case. E no get how you go tell me say everybody that was involved is or was a crypto P2P trader. This one they also means say we self no safe again as we dey trade with this merchants them and as we dey advice make you no leave your crypto for exchange, e belike we go add no leave too much Naira for bank too oh because I no understand where this country they head to. Money no safe anywhere again, either you leave more of your funds in Bitcoin in a self constodial wallets and they sell to Naira anytime you need am because no where safe again.

Boss na this thing wey you talk wey me I dey do for long time now ooo. For long time now I no dey keep more than my weekly expenses budget for naira. I dey mostly keep my disposable income for usdt for my wallet. Na anytime wey I need money I dey sell to Naira. As this our government dey always do like people wey dey always dey high on weed, them fit wake up one morning and do anything wey enter their mind. Me I also see am say keeping Fiat self is not too advisable because of the inflation risk eating it up. Make this government no worry, them dey open people eye gradually. After this judgement, banks will start complaining soon that there is a heavy decline in Fiat savings in bank accounts belonging to the youths.

[Obim34]

I keep saying this, the Government are up to no good, all these recent actions from them are situated on something worth their personal interest. Tracking down all of these isn't going to change anything, they have done this before and what then has been the outcome after freezing and trials. Nigerian government are just happy frustrating crypto users, all in the glory of fighting fraud meanwhile they are the biggest of what they fight.

With Bybit included, means they already have their eyes on them already, what happened to Kucoin and the rest is now having a 50/50 chances of doing same with the only exchange left to carry out P2P.

[Odogwu-Blockchain]

With Bybit included, means they already have their eyes on them already, what happened to Kucoin and the rest is now having a 50/50 chances of doing same with the only exchange left to carry out P2P.

Na wetin me sef don dey reason, make e no be say them go change mind con go stop p2p service on those exchange, e go wey crypto users well well, but still, wetin me believe be say, there must be a way out even if them stop am. Nigeria be the country wey be say them sabi figure out way sharperly sharperly when way don block.

This platform paxful currently known as Noones dey run p2p service too, if government stop Bybit and kucoin from running the service, you fit check out that platform, them dey fast as well.

[Wiwo]

Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has secured an order from the Federal High Court to freeze N548.6 million in bank accounts belonging to suspected crypto users on platforms like ByBit, KuCoin, and others, over their alleged involvement in naira fluctuation activities.
The motion, dated September 3, 2024, which the court relied on to freeze the funds, casts a fresh spotlight on major foreign crypto platforms, ByBit and KuCoin, accusing them of aiding the devaluation of the Nigerian currency.

I been think say this wahala done stop since I wasn't hearing much concerning this matter anymore but yesterday, this news comes my feed and it got me worried because innocent people go also follow for this case. E no get how you go tell me say everybody that was involved is or was a crypto P2P trader. This one they also means say we self no safe again as we dey trade with this merchants them and as we dey advice make you no leave your crypto for exchange, e belike we go add no leave too much Naira for bank too oh because I no understand where this country they head to. Money no safe anywhere again, either you leave more of your funds in Bitcoin in a self constodial wallets and they sell to Naira anytime you need am because no where safe again.

The matter with cryptocurrency fight in Nigeria has taken a mess stage, this is because recently while the government through the central bank try to kick against cryptocurrency traders, even though there are some bad actors in the Nigeria crypto space that try to manipulate the system in such a way that it will favour their on greed, which make government to pick a red spot against them, but we the ordinary p2p traders we may have less to worry about unless you are a manchant which at this moment you will be needing some level of license to operate, this will put you in the right track with the government.

What the government is trying to do is to regulate the Nigeria cryptocurrency space and at that we have to play along with the rules to remain save, because anything that act contrary to the law, so for sure we are good in the industry because if you don't scam or do illegal deals, using crypto in Nigeria is not an offence such like owning gold and other assets, the Nigeria crypto space is large and we have hard alot of crypto scheme ponzi and the rest so we having such red flag in that amount is quite alright but also we must continue to act with vigilance in other not to fall victim to what we does not know.

The more the government fight to silence crypto in Nigeria, the more crypto becomes popular, take a look at what is happening lately with all the tapping games that everyone is carried away with lately, this made a mess of the whole fight to silence cryptocurrency in Nigeria.

I think what the government need to do is that, their need more regulatory policies much more than fighting against cryptocurrency, the sec did well to have included and approve a number of local cryptocurrency exchanges recently.

[Tmoonz]

Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has secured an order from the Federal High Court to freeze N548.6 million in bank accounts belonging to suspected crypto users on platforms like ByBit, KuCoin, and others, over their alleged involvement in naira fluctuation activities.
The motion, dated September 3, 2024, which the court relied on to freeze the funds, casts a fresh spotlight on major foreign crypto platforms, ByBit and KuCoin, accusing them of aiding the devaluation of the Nigerian currency.

I been think say this wahala done stop since I wasn't hearing much concerning this matter anymore but yesterday, this news comes my feed and it got me worried because innocent people go also follow for this case. E no get how you go tell me say everybody that was involved is or was a crypto P2P trader. This one they also means say we self no safe again as we dey trade with this merchants them and as we dey advice make you no leave your crypto for exchange, e belike we go add no leave too much Naira for bank too oh because I no understand where this country they head to. Money no safe anywhere again, either you leave more of your funds in Bitcoin in a self constodial wallets and they sell to Naira anytime you need am because no where safe again.

Me self I see the news yesterday I been dey even think of creating thread about am yesterday but before I come here dem don creat one. This thing Na wettin we don discuss pass. Government even said dem go add tax Abi na transaction fee for any transaction person do for kucoin, we come dey wait make them implement am make kucoin begin P2P but as this case show up like this E dey obvious say this people no get good intentions for us. The best way na to avoid keeping fund for CeX like this as you talk before then go freez person hard earn money.

It is painful that the government left chasing the really problems of our country to be chasing shadows which is so unreasonable, the poor masses are suffering, instead of the government  to look in to improving the standard of living in our country, ensuring their is more of industrialization, good roads, pipe born water, quality education, hospital, market, employment opportunities, electricity, security and many more but few to be mentioned, this are the things they always promise during election campaigns ever since I was a child, but instead of focusing on things of this such they are busy making certain selfish laws that are affecting the poor masses while they fly their families abroad, it is just fucking bad that we find ourselves in this kind of country.

[Cityhunter34]

So since this matter still dey for this people mind reach today eh en, I no know but I thankgod say dem later remind us about the matter again because e go really help us to dey extra careful about people wey we dey do trade with.

Because if no be as Dem talk am again like this yesterday now most of us being don forget about this matter before, all thanks to (Oga Brainboss) for bringing this update to our Naija Local Board I believe say everybody don dey awer of the plan wey government get for there mind so everybody need to dey very careful now.

[Franctoshi]

Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has secured an order from the Federal High Court to freeze N548.6 million in bank accounts belonging to suspected crypto users on platforms like ByBit, KuCoin, and others, over their alleged involvement in naira fluctuation activities.
The motion, dated September 3, 2024, which the court relied on to freeze the funds, casts a fresh spotlight on major foreign crypto platforms, ByBit and KuCoin, accusing them of aiding the devaluation of the Nigerian currency.

I been think say this wahala done stop since I wasn't hearing much concerning this matter anymore but yesterday, this news comes my feed and it got me worried because innocent people go also follow for this case. E no get how you go tell me say everybody that was involved is or was a crypto P2P trader. This one they also means say we self no safe again as we dey trade with this merchants them and as we dey advice make you no leave your crypto for exchange, e belike we go add no leave too much Naira for bank too oh because I no understand where this country they head to. Money no safe anywhere again, either you leave more of your funds in Bitcoin in a self constodial wallets and they sell to Naira anytime you need am because no where safe again.

The federal government is still confused about the main cause of the fluctuating Naira, Even if they succeeded in freezing all the crypto participants account which the Federal government thinks is the major cause of the ridiculing Naira, the problem isn't going to be solved, Reason being that it is not the main reason why the value of Naira is on steady declined, which saw the exchange rate of USD/NGN skyrocketed to its ATH of $1/1900. And the Federal government is leaving to solve the problem of production, which Nigeria is a consuming nation as supposed to be a producing nation. There is no demand for Naira, and hence the value will continue to fall.

[CryptopreneurBrainboss]

This one wey our government don dey behave like this, how them wan make we enjoy this crypto innovations na, this thing naw go make them reason to stop p2p service on these platforms as them don do on Okex and Binance. The moment the government don reason to do this kind thing then you know say them go do another gbege towards crypto again, this kind news no go end as I take see am.

Dem tell you say the government been want make we enjoy crypto before, since, dem been dey find way wey them go frustrate us crypto hustlers and dem go soon dey succeed.

The government like when we dey suffer because that time dem go fit control us more. If we dey see rubbers, we no go need the government so dem no go fit buy our votes na why dem want us to dey hungry so when dey give us bread we go sell our votes.

We no go fit stop crypto P2P as na the only way now to dey sell crypto since them dun block direct exchange with banks wey be say na the exchange go buy your crypto direct rom  you. Now we need dey sell to others directly through P2P.

Na just say we need dey more careful now when transacting with people because say if dem catch you no be say na you fuck up as dem fit use through the merchant them to hold you.

Nothing we go fit do about this one now as we no fit observe the merchants to know which one better pass to use/avoid. Na just say make we dey careful with our bank accounts that's all.

[Zackz5000]

This is another way that the government want to use to frustrate those that are into cryptocurrency hustle but one thing is sure there must always be a way out there is a saying that goes thus if one door closes another open. It is very painful and shameful that this our Nigeria government left what is important to do and decide to keep chasing shadows. I have seen that they always have this joy when they see Nigeria citizen suffering for there are other important this to fix in the country but the left them  and be doing other unnecessary things instead of the to be thinking how they can reduce the price of things in the country people are suffering Petro price has been hike Evey thing is just messed up in this country for is only God that can save us from the hands of this evil men we called leaders.

[Promocodeudo]

Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has secured an order from the Federal High Court to freeze N548.6 million in bank accounts belonging to suspected crypto users on platforms like ByBit, KuCoin, and others, over their alleged involvement in naira fluctuation activities.
The motion, dated September 3, 2024, which the court relied on to freeze the funds, casts a fresh spotlight on major foreign crypto platforms, ByBit and KuCoin, accusing them of aiding the devaluation of the Nigerian currency.

I been think say this wahala done stop since I wasn't hearing much concerning this matter anymore but yesterday, this news comes my feed and it got me worried because innocent people go also follow for this case. E no get how you go tell me say everybody that was involved is or was a crypto P2P trader. This one they also means say we self no safe again as we dey trade with this merchants them and as we dey advice make you no leave your crypto for exchange, e belike we go add no leave too much Naira for bank too oh because I no understand where this country they head to. Money no safe anywhere again, either you leave more of your funds in Bitcoin in a self constodial wallets and they sell to Naira anytime you need am because no where safe again.

What do we expect when we have gullible minds in the helm of affairs of the country, it is unfortunate that these people are doing everything  possible to frustrate anything concerning Bitcoin and other cryptocurrency in Nigeria, I don't know what they stand to gain in this, the government talking about people involvement in the fluctuation of naira as their reason to freeze such amount of money, I think the government and the anti- graft agency should hide their face in shame, where were they when the economy of Nigeria got this very bad and since then what have they done to salvage the situation at hand it is even funny for the government to think this way because with what we know already, any country that consumes more than they produce should expect their currency to be valueless, my question is do nigeria export anything in large quantity apart the crude oil they sell to other countries to buy the refined product in return, so are they expecting magic to happen for naira to be gaining against the dollar when things are not been put place to tackle inflation to its minimal level, let's face fact, we all know that the economy of this country is unproductive so EFFC and other anti graft agencies should investtigate the cause and stop chasing shadows.

It is only in Nigeria that I see that innovation are seen as threat to the national development, it is quite unfortunate that all this things are happening to weaken the marale of bitcoiners and crypto enthusiast to stop doing they needful, I encourage us as bitcoiners to device a mean or adopt the advice as is been said by @CryptopreneurBrainboss above so that our money will be safe in our custody.

[Mate2237]

This one wey our government don dey behave like this, how them wan make we enjoy this crypto innovations na, this thing naw go make them reason to stop p2p service on these platforms as them don do on Okex and Binance. The moment the government don reason to do this kind thing then you know say them go do another gbege towards crypto again, this kind news no go end as I take see am.

Before I even start di crypto journey in 2022, Nigerian government have been on the neck of cryptocurrency users frustrating them and this man hunt started from Buhari tenure in the month of February 2021. That was the year and the time the banned on crypto started and that was also the climax of cryptocurrency market in the country. And when they banned and frozen many cryptocurrency users account, till date they have not improved on anything but they did for their wicked plans against the youths. Now they are strongly fighting against Bitcoin which has nothing to do with national economy but they abandoned dollar which is rising daily and affecting the growths of the National Economy and Currency. That one sef na misplacement of priority. Since 2021 Nigerian government dey fight against cryptocurrency which would have helped them in the financial services.

And you know why they are fighting, no capitalist as openly information that they are interested and investing in cryptocurrency. You that Government obey the sayings of a capitalist. The Capitalist are the owners of the State and the Government is institution of the state. The mistake our mothers and fathers did last year election will still repeat itself in 2027 because of $70 from Tinubu. Tinubu interest is not for the citizens of Nigeria but for the capitalist. It is only youthful President can favour the crypto community in Nigeria.

[Hatchy]

I been think say this wahala done stop since I wasn't hearing much concerning this matter anymore but yesterday, this news comes my feed and it got me worried because innocent people go also follow for this case. E no get how you go tell me say everybody that was involved is or was a crypto P2P trader. This one they also means say we self no safe again as we dey trade with this merchants them and as we dey advice make you no leave your crypto for exchange, e belike we go add no leave too much Naira for bank too oh because I no understand where this country they head to. Money no safe anywhere again, either you leave more of your funds in Bitcoin in a self constodial wallets and they sell to Naira anytime you need am because no where safe again.

Normally, if nija government don fuck up, Dem go dey find every means to point fingers. Me first know say this issue of exchange no fit rest for Dem hand. Dem don completely ruin the country, what more killing it totally. I don't blame them sha, as they think they are smart. we will have other means to covert our money to cash, even though they remove all p2p platforms. For some time now, I use my trading broker to convert USD straight to my account and it's still based on the normal 1590 per dollar, which to me is a fair price. I don't have time to think about Nigeria government they should do what they like...

[RockBell]

I keep saying this, the Government are up to no good, all these recent actions from them are situated on something worth their personal interest. Tracking down all of these isn't going to change anything, they have done this before and what then has been the outcome after freezing and trials. Nigerian government are just happy frustrating crypto users, all in the glory of fighting fraud meanwhile they are the biggest of what they fight.

With Bybit included, means they already have their eyes on them already, what happened to Kucoin and the rest is now having a 50/50 chances of doing same with the only exchange left to carry out P2P.

it is clear that they don't have crypto users in mind and this is not the only country that uses crypto i wonder why all the sudden hunt for crypto users, and even sizing their funds and these efcc guys are becoming a serious threat for crypto users and this, not the first time I think other countries are supposed to be proud of the youths doing crypto rather than going into fraud and their reasons are that crypto users are behind the increase in naira dollar rise, and the other ways that they can even be strengthening naira but no they are chasing their users why not even work on E naira but no they are busy placing bans on exchanges and my question is why are they still allowing bybit that is like the only functional exchange now. is there an agreement that we don't know about, from the beginning of this regime when they lifted the ban coming with all this tracking down of a thing is just very discouraging. i just know why the government is just always want to be behind, when other countries are advancing even in crypto, ours is busy hunting down, they will eventually get tired if it this something am very sure of they can not keep chasing.

[nelson4lov]

I made a post about this earlier this week. The move by the government doesn't surprise me one bit. We had people in the community that were calling for government to completely regulate crypto but I think they'd prefer if they can just stop it all together because more Nigerians are joining the bandwagon and have no interests in investing domestic products in the country (Fixed savings, mutual funds, properties, etc) simply because inflation is eating everything up and if you try to buy what you need, it is priced out via USD and your NGN is getting devalued with each passing day.

Now about the EFCC operatives, I had a friend that got arrested in one of their night raids. He confirmed that the officers in the agency engaged in crypto themselves as well as other Nigerians. This government is simply looking for where to point accusing fingers too for their inability to improve anything in the country other than enriching them own selves with more cars, wealth and properties.

It's a sad reality.

[Victorybit1]

.

Now about the EFCC operatives, I had a friend that got arrested in one of their night raids. He confirmed that the officers in the agency engaged in crypto themselves as well as other Nigerians. This government is simply looking for where to point accusing fingers too for their inability to improve anything in the country other than enriching them own selves with more cars, wealth and properties.

It's a sad reality.

This country is a big joke and nothing dey suprised me again, imagine so called EFCC sef dey trade crypto and yet  agency in the same government would be freezing and arresting people using crypto. What you is just the truth, because the whole country is just about selfishness and as everyone is trying their best to survive and this is all caused by the error of bad government because even the government don't actually want things to get better as they use this opportunity to exploit Nigerians more.

[SatoPrincess]

I made a post about this earlier this week. The move by the government doesn't surprise me one bit. We had people in the community that were calling for government to completely regulate crypto but I think they'd prefer if they can just stop it all together because more Nigerians are joining the bandwagon and have no interests in investing domestic products in the country (Fixed savings, mutual funds, properties, etc) simply because inflation is eating everything up and if you try to buy what you need, it is priced out via USD and your NGN is getting devalued with each passing day.

Now about the EFCC operatives, I had a friend that got arrested in one of their night raids. He confirmed that the officers in the agency engaged in crypto themselves as well as other Nigerians. This government is simply looking for where to point accusing fingers too for their inability to improve anything in the country other than enriching them own selves with more cars, wealth and properties.

It's a sad reality.

I think say them say them dey auction the properties way them seize after the court case don finish. The auction sef na yeye thing them dey do there. I don go their office for Asaba last year weda I fit partake for the auction but the things I see there make me turn back. Them go fit use documents pursue you first. To make matter worst na old scrap motor them bring come out say na wetin them won auction. I come dey wonder which yahoo boy or politician way dey drive this kind gwor gwor motor. EFCC dey use us catch cruise them corrupt like SARS.

[Mate2237]

No where dey safe again. As e be now, na just make every body dey careful as dem dey trade for p2p this time around because we no know who be who again. Make person no dey where e dey hustle go put himself for problem. As I see this notification for my page I go check online  for confirmation. For me to dey sure I still call to confirm and na true. I just quickly begin do the needful because these days careless news dey very expensive to hear and prevention is better than cure. Any matter wey involve our government for money matter na till thy kingdom come so e better to avoid than to hear story that touches the heart.

Yesssoo because everywhere dey suspicious. And we no know who dey trade with us. And dis government dey hunt all corners. Right know EFCC, and police nai dey disguised themselves dey hunt crypto participants. But I see that as a misplacement of priority. They have a national course to carry and coming to something that doesn't have their time. And because they want to collect money from those boys.

When we trade in the CEX we should not keep the change if their is any in  the exchange and instead send only the amount you want to use to the exchange and empty exchange at once.

[CryptSafe]

When we trade in the CEX we should not keep the change if their is any in  the exchange and instead send only the amount you want to use to the exchange and empty exchange at once.

This is just the best way now to keep safe your assets. It is not advisable anymore to keep anything with exchange anymore. Ever since this latest saga began, the Nigeria crypto space began to shake again. Everyone just needs to be extremely careful.

Some days ago I saw post on one of the platform were a member dropped a screenshot of his conversation with his friend. In the conversation his friend was telling him to be careful because they freezed his account and the money deposited was traced to an account with tainted records this was what he was told when he got to the bank to lay a complaint. He was interrogated but he told them he does sell shoes online and that was what saved him. He had to call the buyer on bybit to confirm and the guy told him same too and that it was a guy he sold usdt to via bybit that paid that money to him.

We just need to be careful when transacting online now, look at the buyer transaction details properly before dealing to keep you on the safe side.

[nelson4lov]

~Snipped

I think say them say them dey auction the properties way them seize after the court case don finish. The auction sef na yeye thing them dey do there. I don go their office for Asaba last year weda I fit partake for the auction but the things I see there make me turn back. Them go fit use documents pursue you first. To make matter worst na old scrap motor them bring come out say na wetin them won auction. I come dey wonder which yahoo boy or politician way dey drive this kind gwor gwor motor. EFCC dey use us catch cruise them corrupt like SARS.

Na you even get time to dedicate for their processes. E get anytime this government will say A is for Apple and A is really an Apple? It never works. If no be plenty paperwork na plenty other processes to stress the life out of you. I'm sure that the most valuable assets have already been siphoned off by EFCC and left the scrap to be auctioned and for media publicity. Well about the auction, I hope say them dey only auction the properties of convicted people.