Binance | ForkLog

ForkLog 16 12.06.2024

Nigerian Authorities Accuse Binance of Evading Taxes on $20 Billion Turnover

The cryptocurrency exchange Binance reportedly generated over $20 billion in revenue from Nigeria in 2023 alone, yet failed to pay taxes. This was stated by the country’s Minister of Information, Mohammed Idris, to local media. According to him, the trading platform’s turnover significantly “exceeded the federal budget for health and education, fueling currency speculation and […]

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ForkLog 5 07.06.2024

Former US Officials Urge Release of Binance Executive Detained in Nigeria

108 former federal prosecutors and agents from the United States have penned a letter to Secretary of State Antony Blinken, urging assistance in securing the release of Tigran Gambaryan, Vice President for Global Intelligence and Investigations at cryptocurrency exchange Binance, from custody in Nigeria. They argue that the US government is making “insufficient efforts” in […]

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ForkLog 11 06.06.2024

Mastercard Resumes Partnership with Binance

Payment system Mastercard has reinstated agreements with Binance regarding payments and deposits following the resolution of issues with US regulators, reports CoinDesk. Withdrawals and other functions will be available later, the company clarified. “After a comprehensive review of the stringent controls and processes implemented by Binance, Mastercard has decided to allow platform-related purchases within its […]

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ForkLog 8 05.06.2024

US Congress Urges Biden to Intervene in Binance’s Nigerian Dispute

Members of the US Congress have called on President Joe Biden to intervene in the legal proceedings involving cryptocurrency exchange Binance in Nigeria and to assist in repatriating the company’s top executive, Tigran Gambaryan. ?NEW: House members including Chairman @RepMcCaul of the @HouseForeignGOP have sent a letter to @POTUS, @SecBlinken and @StateSPEHA urging them to […]

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ForkLog 9 04.06.2024

Binance Attributes $1 Million Hack to User’s Own Security Lapse

Binance co-founder Yi He denied the exchange’s responsibility for a security breach that resulted in a client losing $1 million. “Look closely: this user’s account was hacked because their own computer was attacked. After the hack, the hacker couldn’t withdraw funds, so they sold the victim’s coins, leading to trading losses,” she stated. On June […]

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ForkLog 19 03.06.2024

Binance to Restrict Access to Certain Stablecoins in the EU

Cryptocurrency exchange Binance has alerted users to upcoming restrictions due to new stablecoin regulations coming into effect within the European Economic Area (EEA). Under upcoming MiCA rules some stablecoins will face restrictions as unauthorized stablecoins. Binance won’t delist any unauthorized stablecoins on spot but will limit their availability for EEA users only on certain products, […]

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ForkLog 15 03.06.2024

Binance User Loses $1 Million Due to Chrome Plugin

A hacker gained control over a Chinese trader’s Binance account without needing a password or 2FA confirmation. Following a series of transactions, the perpetrator withdrew assets worth $1 million. 我成了币圈卧底的牺牲品，币安账户里100万美元灰飞烟灭直到现在我整个人还是懵的，这几乎是我这几年全部的积蓄。… pic.twitter.com/sSNUTXFZsc — Nakamao? (@CryptoNakamao) June 3, 2024 The incident occurred on May 24. During the process, the investor claims he received no notifications from […]

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ForkLog 17 03.06.2024

Binance to Delist Waves, OmiseGO, NEM, and Wrapped NXM

Cryptocurrency exchange Binance announced the delisting of Waves (WAVES), OmiseGO (OMG), NEM (XEM), and Wrapped NXM (WNXM) on June 17 at 03:00 UTC (06:00 Kyiv). The reason cited is non-compliance with “high standards and industry requirements.” The platform will halt trading of all spot and margin pairs for these tokens, specifically: OMG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, […]

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ForkLog 41 01.06.2024

Changpeng Zhao Begins Prison Sentence in California

Former CEO of the cryptocurrency exchange Binance, Changpeng Zhao (CZ), has arrived at the federal prison in Lompoc, California, to serve his sentence. This was reported by CNBC. The information was confirmed to the publication by the law firm Latham & Watkins, which represented Zhao. In late April, a federal court in Seattle sentenced the […]

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ForkLog 17 30.05.2024

Binance Kazakhstan Partners with Kazpost

Binance Kazakhstan, a cryptocurrency exchange, and the national postal operator Kazpost have signed a memorandum of understanding, representatives of the platform informed ForkLog. The parties expressed mutual interest in implementing innovative financial services in the republic. The primary aim of the partnership is to “ensure the accessibility and ease of use of digital assets, relevant […]

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ForkLog 21 28.05.2024

Binance Sells Gopax Claims Against Genesis at a Steep Discount

In 2023, Binance sold Gopax clients’ claims against Genesis Global for less than half their nominal value, according to Hankyung, citing its own sources. In February 2023, Binance acquired a controlling stake in the troubled South Korean exchange Gopax. A condition of the purchase was to cover the losses of GoFi product users, who suffered […]

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ForkLog 14 24.05.2024

Binance Executive Contracts Malaria in Nigeria, Court Hearing Postponed to June 20

A Nigerian court has postponed the trial concerning Binance due to the illness of the accused, Tigran Gambaryan, Vice President of Global Intelligence and Investigations at the cryptocurrency exchange. This was reported by Reuters. The defense stated that the defendant’s health deteriorated sharply on Wednesday, May 22, preventing him from attending the hearing. “He received […]

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