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Paxful freezes millions of Cryptocurrency accounts from Nigeria


 Pascal Oparada

Millions of funds in cryptocurrency from Nigeria are trapped in Paxful account, a leading peer-to-peer cryptocurrency marketplace where buyers and sellers are connected for business.

On Tuesday, many Nigerians reported that they have not been able to access their funds in Paxful accounts.

It is not yet clear why the accounts are frozen, but records seen by The Nigerian Xpress show that most accounts were frozen due to violation of Paxful’s terms of service.

#PaxfulFreeNigerianFunds, a hashtag created to raise awareness for the trapped funds, was trending on Twitter on Tuesday.

It is not yet clear if the Nigerian government have asked the platform to freeze accounts from Nigeria following the #EndSARS protest in October.

Thousands of dollars worth of Bitcoins were raised for the promoters of #EndSARS during the protests.

Twitter founder, Jack Dorsey donated to #EndSARS via Bitcoins.

After the #EndSARS protests, the Central Bank of Nigeria froze the accounts of about 20 #EndSARS promoters.