How did Binance become aware of the fraudulent site
The Nigerian regulator SEC has sent a statement to the international platform that their branch in the country is conducting illegal activities, as it has not been registered with the agency. According to the registrar, users who work with the Nigerian platform are at great risk.
The founder of the site said that you should not believe everything that is said in the news. According to local media, Binance is also committed to working with the local regulator. At the beginning of last year, the exchange blocked almost 300 profiles. Located in Nigeria to prevent money laundering and ensure the security of the site.
Note that last month, the Nigerian department confirmed its ban on cryptocurrencies. As an exception, it is possible to leave stablecoins that are secured by any assets.
The agency is not going to license cryptocurrency platforms until a separate agreement is reached with the bank, in which certain standards will be established.