Despite a court order freezing cryptocurrency wallets linked to EndBadGovernance protesters in Nigeria, the wallets are still active and conducting transactions, CoinVoice has learned.
As local news outlet Premium Times recently reported, the wallets, which contain more than $37 million, were ordered frozen by Judge Emeka Nwite on July 9. However, an investigation by Techpoint Africa found discrepancies between court documents and blockchain data, suggesting that the wallets may not have been fully restricted.
The investigation found that one wallet listed in court records as holding $967 later showed a balance of $172. Another wallet was alleged to hold $443,512 but showed a balance of $233,574. This wallet is associated with the cryptocurrency exchange KuCoin, which continues to process transactions, including a recent transfer of $50,000 to an unidentified wallet.
The EndBadGovernance protests are a series of nationwide demonstrations sparked by Nigeria’s economic crisis. Protesters rallied against rising costs of living, record inflation and food price hikes, which many blame on President Bola Tinubu’s economic reforms. [Original link]
