Binance CEO Raises Alarm Over Alleged Cryptocurrency Extortion Demands

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The CEO of Binance, Richard Teng, recently made startling claims regarding alleged extortion attempts made by individuals purporting to represent Nigerian officials. Teng asserted that these unidentified individuals demanded substantial payments in cryptocurrency to resolve issues purportedly faced by Binance in the country.

Despite repeated requests for clarification and details regarding these allegations, Teng revealed that Binance had yet to receive any information.

Expressing the company’s stance on the matter, Teng emphasized that Binance would only consider engaging in settlement negotiations if provided with concrete evidence or specifics of the accusations leveled against them.

In addition to addressing the extortion claims, Teng also made a plea to the government concerning the case of Tigran Gambaryan. He urged authorities to allow Gambaryan to reunite with his family, committing that Binance would cooperate with the government voluntarily once this condition was met.

These developments shed light on the challenges faced by cryptocurrency exchanges operating in various jurisdictions, highlighting the need for transparent and lawful dealings within the industry.

As the situation unfolds, stakeholders await further developments and clarity regarding the allegations raised by Binance’s CEO.

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