Many Binance users claimed that their accounts had been suspended without any reason.
Binance is a popular crypto exchange and its services are popular in multiple countries. Right now Binance is holding the highest trading volume on its platform. This exchange always works to make its platform free from bad actors through its unique blockchain tracking tools and team.
On 26 January, Many Nigerian and South African Binance users claimed that Binance is suspending their accounts without any reason.
In response, Binance Africa announced officially this matter on Twitter and stated that if any user from Nigeria believes that his account is frozen/suspended mistakenly then that person can fill out the form ( link attached in Twitter post).
Binance Exchange explained through the Twitter threat that in usual exchange suspends withdrawals in situations of any suspicious activities to save the funds of users but here current actions are associated with the order of the law enforcement agencies.
According to Binance Africa, suspended accounts are only those, which are in link with any illicit activities and also claimed that if any user thinks that he is mistakenly facing this issue then in that situation that user can fill out the form and after that exchange we recheck the matter.
The accounts which are frozen on the order of enforcement agencies will be contact and further steps, that is what they are needed to do next.
Users against Binance exchange
Many users raised their voices against the Binance exchange and claimed that Binance is trying to introduce a scam but exchange clearly said that it is part of the action taken by the enforcement departments.
“At Binance we are committed to working with law enforcement agencies to ensure our community remains safe, and to prevent fraudulent activity throughout the industry. Binance is not scamming you.”