Topic: EFCC, Court Freeze N548.6 Million Belonging to ByBit, KuCoin 9ja Crypto Users. (Read 569 times)

The Nigerian government go just sit down and when they feel like to flex muscle, they attack the crypto community as if they are the ones stopping them from providing good governance for the Nigerians. Job employment them no provide, industries them no build but na the crypto wey man they use chop them wan they attack but the joke is on them, they can only try all this ban of thing with their centralized naira, very soon vendors self go dy accept crypto for payment especially the stable coins.

The advice wey I go give other people wey they do crypto in bulk, any money wey u no need, e better make them covert am into crypto and covert when them need naira immediately. Some of the accounts wey dem don ban no go pass accounts wey don active for trade for long time. Anybody wey never get signal but don trade bulk of transactions of Naira in the past should sell their naira, better safe than cry later because this government na mumu one.

Imagine when you use cat do security to watch fish wetin you think say go happen. EFCC na them suppose fight crime but na their own worst pass because them use their office dey achieve peoples properties that they seized for themselves which all of them suppose go jail if say na foreign country.

It is a very big problem to fight corruption for this country because na corruption be people side hustle. Maybe soon e be be END EFCC.

This current government is really confused ,here they are talking about devaluation of niara. what about NNPCL that is selling crude to dangote in dollar. This current government  has no solution to offer ,in fact they even the one responsible for the devaluation of niara, they are now looking for were to shift the blame. So this is message to all u should be careful not to keep a huge of money in your account rather u can invest it in bitcoin and convert it to naira whenever u want to make use of it.

No be lie you actually talk so, no place wey d safe again for this our country. The things wey peso d do before that are safe, no longer d safe for this present government, na make the government no remember am.

All this ups and downs fight wey our government d fight with crypto exchange na we the citizens wey em d affect, and we go indirectly pay for it in one way or the other. Our government knows sae Nigeria's wey plenty d into crypto, and them d make am big without paying tax. The way to get to them na to attack crypto exchange wey d operate for Nigeria. By attacking the crypto exchange, them don d gain ground small small to begin to think of ways to exploit big money from exchanges wey go leads to exchanges forcing everyone to pay a higher fee for their services.

Wetin I stated above na my thoughts on this bark and fought our government d do with crypto exchanges because all these things are channeled to ways wey this crypto exchanges go d pay heavy tax since everything wey d inside Nigeria don turn to tax dividends for the government

My country people, you see anything wey involve government auctioning seized properties forget am because you no go see anything. You think say them no like better thing to keep for themselves or you think say dem go hustle out awoof property like that come give you to buy for free? no be for naija wey we dey so o.  Those officials are very correct and corrupt at the same time so do not bother going for their auction because them go stress you and even if you see anything, na NBUKA dem go bring out for you abi na nbuka you go there for? So  no need to waste your time say you dey go for their auction because nothing come out unless you just wan go observe wetin dey happen there.

To me the rationale for this government rejection and opposition to cryptocurrency Is based on the fact that they feel it is the prayer of crypto users that the naira should be on the continuous fall inorder for massive cashout out. If u look at the matter the only sets or group that are comfortable if not for the sake of the economy is the crypto users because when dollar rises their revenue rises.
As regard this matter the feeling has nothing to do with reality is just like someone wishing to travel abroad or buying a car, it is only a wish which has nothing to do with the reality. I have a fine girl in my area I have been wishing to date. When I confront her I do receive the insult if my life. Then I wish my wish transforms to reality.
It is pertinent to keep our coins in wallets not in exchanges to avoid do u know me?

You get am. The whole auction na hoax. Them just dey do am for media publicity make he belike say them dey work one better thing. When you reach there na you go know say all na whining. Them don already select the ones way them won tiff for inside. The big properties like cars and houses way them nor fit hide them use person name buy am for the auction very cheap.

But come ohh I been think say we done pass all this government issuse with crypto exchanges, why all this federal high court issues now honestly speaking this people are really taking a great advantage of the crypto space because their no we are not going to say anything so they just use  every opportunities to take what ever they want all in the name of protecting naira inflaction to me that bull shit story for the gods all this na just scope to collect crypto money flex.

 Greediness don really take over our selfish government because, if no be greediness how someone's with their right scenes go just freeze what doesn't belong to you all in the name of protection of naira devaluation, and the funniest part of it, is that they don't ever freeze an politicians account if huge amounts of funds is been invested with then, na only people poor massive wey crypto na future to them dey go ever freeze account small crypto wey don dey help many people and infact wey be eye opener to the Nigeria with the way government dey use our eyes see things.

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.

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.

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.

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.

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.

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.

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.

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...

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

People need to be careful because this government are just beating the bish looking for who to blame. We need to be very careful with the people will do trade with in exchange,  this affected people it could be that they were caught because of payment description,  using cryptocurrency terms while making good payments that was why their account was being freeze. Something like this happened some month ago when the government were shutting down exchanges and those who normally use payments descriptions were victims that couldn't have access to their accounts.

I can't believe I am seeing this now. I am as shock as you are(@Op). But I thought a user on this forum created a thread on this board about the federal government giving license to two exchanges in the country. Or did I read the thread in my dream or what?. N548.6Million is a massive amount that came about from the hard work of some individuals that choose not to indulge in crimes even in this current tempting administration. Since I joined the crypto space, I still don't know how the activities of merchant/p2p traders affect the Nigeria currency (naira). These Agencies (EFCC and others) are failing to go after the real culprit that are devaluating the Nigeria naira. Instead, they go after the hardworking, and seize their own personal source of income away from them. I really don't know what these government and agencies wants from crypto users, but I think they are still very much not in support of what we do.
What a shame.

This country no balance walai — Them don dey start another operation to oppress anybody indulging in crypto after them never provide clarity on crypto legality in the country. The sheer fact say politicians dey indulge in crypto but only civilian accounts are frozen is bad. I saw this news yesterday and my initial thought be say them freeze these accounts during that time or maybe them freeze am as part of the stolen funds wey hackers been use p2p offload some months ago but it looks like it's none of those cases.

I don always keep am in mind say most of those p2p agents are actually government agents in disguise.

Actually when I came across this topic on my notifications my heart flew I was thinking that bybit has automatically ceased operation before I had to open it to read its full content.
Things are really getting worse and Inflation are eating everyone up especially since the dollar is no longer increasing and price of things increasing exceedingly above the previous even when dollars was around 1.9k to 2k at least it was manageable than now, but yet it is not increasing but the government still putting eyes in our little ways we are aiming a living.

Of course no place is safe that is why we must not leave our coin inside exchange otherwise if they also decides to restrict Nigerians then our funds are gone. So best is to pull out our funds out of exchange to safe our life and funds we don't know whom to be affected or where to be affected.

They were always going to come for crypto exchanges; we all knew their temporary use of our foreign reserves to back up the Naira against the dollar was not going to last long; first it was Binance, and now that Binance has delisted Naira and stopped Naira p2p, the Naira has further depreciated; they're taking the wrong approach and chasing the wrong problem.

 If they succeeded in delisting the Naira on all platforms, it would not benefit the Naira and would continue to depreciate until the appropriate economic strategy is implemented.

The tin be say ,dis government na wa, Dem no want other people to chop, how is crypto the problem of this problem we are facing in our country? , na crypto dey make fuel dey increase again,why can't this government focus on the real problem of this country and solve it rather than pointing accusing fingers on the innocent,if they have nothing to offer,they should leave the seat for those that can govern the country well,they are only chasing shadows,it is now clear to me that what we are facing in the country right now is a deliberate act from the ruling party because they said it is their turn to embezzle , any way there is God.

Our government no try at all. Just as you talk I know say innocent persons go follow dey among the affected bank accounts. I pray make any of us no suffer this kind ugly fate because I just dey imagine wetin e go be like without access to your bank account and funds. That means even if you want trade your crypto to naira, you go either use physical trade or a close friend or relatives bank account. On a serious note, the inconveniences go dey too much, make all of us just dey careful.

Like ah done they fear now to keep my funds for any exchange. To they honest immediately i hear this news i first go withdraw all my funds wey i keep for centralized exchange directly to my wallet. E be like as we they complain everyday the government they ha[ppy say we dey suffer we they into cryptocurrency. Omor ah no lie ah just tire for this country. Because nothing go fit change. As i they like this if i get anything wey go help this country ah no go fit kil my self to share am o cos everybody just they do anyhow for this country.

I think, I also saw something like that Pulse news on cryptocurrency in TG. And I didn't pay attention to am and just waka passed. Op weti you talk na di truth be that. We no dey safe because of the transaction we dey do with those guys on the exchange. And also if anyone wants to keep money for bank, make him no keep am for the account wey him connect to the exchange but to another account and make di money no plenty. And only sell when we need funds to solve some problems. Nice advice.

I’m just seeing this news, for a certain reason they might even do worse compared to what they did to Binance. Decisions like this has been taken for long but what I don’t understand is the constant oppression and difficult situation they keep creating against crypto enthusiast. Some will say they don’t know the major problem or what? and it seems they’re mute concerning the development of the country although the EFCC work hand to hand with the federal government so I’m not surprised if they act strict. Just few weeks ago, Nigerians protested against inflation, inadequate infrastructure, naria devaluation, Price hike on everything yet Non of this caught their attention rather it seems they see the crypto field as one factor causing all this meanwhile the only reason people choose bitcoin is because it’s beneficial. Why are the government ruining the means of Exchange? At this point op advice is valid our safety is more important.
I came across this topic still on Exchange issue and it turns out the US demands Nigeria to release Binance executive as he face health challenges, una feel say the binance matter still worse and relating it with this current situation Nigeria government no wan carry ear hear crypto. https://cryptobriefing.com/binance-employee-release-nigeria/   

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.

Yes, na true you talk here, na fuel dey cause everything for Nigeria, once price of fuel rise, everything don rise. E go con dey make the market makers dey increase the price of their goods.

If you take look at all this matter all na just greediness because if you take look at why the government dey do this kind thing you no go see any good reason, I don even forget about all this thing's wey be dey happen since past months now and I see this news now I come dey think say our country will never change and all this thing no pass greedy because I don't know waiting cryptocurrency or p2p dey cause for naija, some times they will say dollar wey rise and even if dollar come down the price of the things go still dey high.

Nigeria problem no pass fuel, because if we look at it very well we will know that since the time wey price of fuel go up na E all Nigeria things dey high every day and instead the government to solve that problem them come dey put eyes for crypto money wey nothing concern them with it, okay as them they freeze people money waiting them wan use am do, the person no steal, no be kidnap or anything bad and they freeze the account, even the banks make them no worry because after them start to dey lose customers now their mind go dey and their eyes go open, them go know maybe na from government them they see money chop or from the customers.

Even me too, I think say na only binance government say dey don't want in d country but it was a surprise to me to hear dis information from here now about Bybit and Kucoin, well, we need to b very careful in d exchange market because I think say na there EFCC for take all those accounts number to take permission from d high Court to freeze their account as a crypto users, dis is Nigeria, I don't think all of dem are crypto users because d government will use dis opportunity to involve their enemy or opposition party members to claim dat dey are among d people dat is fighting d progress of dis country, those who are still using Bybit and Kucoin exchange, we need to learn lesson from dis incident, so dat dey will not use us shine. I agree wit u on dis, say our money no longer save in d bank in d country because for EFCC to freeze people account without hear from dem, show say we should b very careful with d huge amount of money  we dey leave for bank, I don't think say I go dey leave big money for bank again than to continue to use dem to buy bitcoin and leave dem in my electrum wallet.

No be small wahala and fear wey dis our government wan put for people body o and I pity people wey dey affected for this kind unfortunate decision of the government, like 548.6 million naira no be come chop na wetin come be all dis ones again na, wen we dey hope say the government wan even reach consensus wit all these crypto exchanges including the ones wey dem bin ban before but yet as e be like dis now the fight against crypto exchanges still continues.

Any how e be sha na to leave our assets for Bitcoin be dat o because e go bad say dis people come go froze person account unnecessarily wey be say we know how the country be unto say wen something like dis happens na only by the grace of God wey the government go fit unfroze dose accounts again. If no be say hunger and the cost of living dey high like dis wey e be say on how in be people must need money to take solve immediate family matters like feeding and all dat if not na to just bone face leave crypto assets like Bitcoins for self custody wallets dey accumulate am there small small before you know sef person don get better stash for yin portfolio be dat o. Well na God go help us for dis country like dis because dis matter don pass be careful o.

It has really been a while I heard anything concerning the crypto and exchanges saga ongoing in this country. Though it is no longer safe holding funds for long, I think reinvestment or diversifying a cryptocurrency portfolio into physical assets like gold or land would help keep one safe from any new policies the government enacts to make crypto users have a hard time.
Also, keeping or saving up cryptocurrency in non custodian wallets is a sure way to ensure ones crypto holdings remain intact and useable wherever one finds himself at any moment.

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.

I don't know why up till now the government don't want to face the root cause of our currency devaluation problem but rather go after short term policies that only frustrate her citizens while the exchange rate remains as it is with no significant improvement. Will they freeze all the account that are associated with crypto or those that are responsible for the devaluation of the naira? What measures are they taken to ensure that Innocent ones don't get affected?

No where is even safe now. You leave money in an exchange the file for naira to be delisted and when you now leave your money in fiat, you're now at thier mercy with this kind of threat that will certainly affect the majority of people in the crypto space.


sometimes because of the exchange rate that's favourable now, some people just take advantage of it and convert some of thier holding to fiat and keep it till they decide to use it for a particular project. Should they now be made frustrated on where to keep thier money? They don't want to provide job for the masses but still want to deny the youths the means of making money that has reduced crime in the country.

I saw it on legal board on Bitcointalk and we discussed about it yesterday. It is good that you brought it up here also. But are there people among us leaving money in bank with how naira devaluation continues? The government tried to manipulate but they are illiterate to tackle the issue but lying to people about it.

I also see this news, e shock me sha, things dey sup for this space with our government, na this one be the best to hold more of our money in bitcoin for non custodian wallets and try dey hide the wallets in case person go fall victim, na only exchange account them fit see and so they nor go fit force person to send money wey they nor know if e really dey exist.

Make we dey watchful nor to fall victim, God help us from all these wicked governments.

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.