CRYPTO EXCHANGE, OKX DISCONTINUES OPERATIONS IN NIGERIA, ADVISES CUSTOMERS TO WITHDRAW ASSETS BEFORE AUG 30
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OKX, a cryptocurrency exchange, has stated that it intends to stop operating in Nigeria due to recent modifications to local laws and regulations.
In a direct message to users on Wednesday, the exchange stated that this choice was made in light of its continuous evaluation of market policies.
“We are discontinuing OKX services in Nigeria after recent changes in local laws and regulations.
“From August 16, 2024, our customers will no longer be able to open any new positions or access any services on the platform, with the exception of withdrawals and closing/redemption of open positions,” the statement read.
OKX asked its users to review their accounts and provided steps to retrieve their assets.
The company said from August 16, users “will only be able to withdraw your assets; you will not be able to deposit or transact otherwise.”
“While your funds remain secure and accessible in your account, we highly encourage you to withdraw them to your private wallet or your accounts on other third-party platforms by 12:00 am (PST) on August 30, 2024.
“After August 30, 2024, you will have to reach out to our customer service teams for any account related actions. We strongly encourage you to withdraw or transfer funds prior to this date, as remaining balances may be subject to further restrictions in accordance with our Terms of Service along with local laws,” the statement concluded.
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