Binance, the world’s largest cryptocurrency exchange by volume, has restored the operation of 79 out of the 281 Nigerian personal accounts under probe for regulatory breaches.

The company had formerly restricted the accounts to ensure the platform’s security and prevent fraud, its founder and CEO has said Changpeng Zhao said. The restrictions meant that traders cannot process withdrawals and deposits using the platforms anymore, or through third party platform like Paystack or Flutterwave.

Zhao’s statement comes after  users complained that they had lost access to their accounts and funds without any reason. Using the hashtags such as #BinanceStopScamming, #BinanceStealingCrypto, they called for a boycott of the exchange. Many expressed frustration that it  allegedly failed to get customer care support from Binance.

He said about 38 per cent of the accounts were restricted at the request of international law enforcement.

Cryptocurrency traders in January met with Securities and Exchange Commission (SEC) on how to regulate their operations.

The operators also requested that the CBN and other regulatory bodies can regulate cryptocurrency exchanges with existing laws and licences.

They expect the apex bank to add legal certifications for exchanges—for example, registration under the Special Control Unit on Money Laundering (SCUML).

The letter read, “The Nigerian community is one that brings me great pride. Since the inception of Binance, Nigeria and Africa at large have been very special markets to us and for crypto. On hearing the concerns raised by the community, I decided to write to re-emphasize our commitment to you.