Nigeria freezes crypto accounts, anti-corruption agencies take action!

The Nigerian anti-corruption agency Economic and Financial Crimes Commission (EFCC) recently obtained court approval to freeze the bank accounts of multiple cryptocurrency users, involving an amount of more than US$330,000 (about 54.86 million naira). 💰

EFCC investigator Okoro Philip pointed out in court documents that the culprit for the depreciation of the naira was cryptocurrency traders on Bybit and Kucoin. He accused these traders of illegally conducting foreign exchange and cryptocurrency transactions, and criticized the relevant platforms for failing to comply with anti-money laundering regulations. 🕵️‍♂️

The EFCC also claimed that proceeds from criminal activities and terrorism-related funds are being traded through these cryptocurrency platforms. 🔍

Despite stricter market regulation, Bitcoin still shows strong vitality. 🚀