‘CBEX’ promised to double Nigerians’ money. Now thousands of Nigerians can’t access their funds

16 Apr 2025 03:32 pm
Technology

In April 2025 a Ponzi scheme known as CBEX collapsed in Nigeria leaving investors with significant financial losses. The scheme promised high returns on investments in cryptocurrency trading but it was later revealed to be a fraudulent operation. The collapse of CBEX highlighted the dangers of investing in unregulated schemes and the need for stricter regulations in the cryptocurrency market. The Nigerian government and financial regulators have since taken steps to crack down on fraudulent investment schemes and protect investors. This event serves as a cautionary tale for individuals to thoroughly research and understand any investment opportunities before committing their money.

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  • 1) A popular Ponzi scheme name CBEX crashed few days ago in Nigeria leaving many Nigerians with significant financial losses. Why do Nigerians still fall victim of fraudulent schemes like this?
    1 Replies
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    user-avatar
    18 Apr

    I think the basis of the problem is Nigerians especially we the young lads wants to make money so fast and easily. Hence we’re desperate to make money anyhow irrespective of how it comes

  • 2) The scheme have been in operation in Nigeria for over a year now and suddenly stopped operation to cart away billions of naira of investors money. Could they have been a registered firm in Nigeria?
    1 Replies
    0 Reply
    user-avatar
    18 Apr

    Well I’m not sure if they’re a registered firm but I know for sure they have been in operation for over a year now especially here in the south west
  • 3) The EFCC in conjunction with Interpol have vowed to recover investors money and bring the perpetrators to justice. Are you optimistic that this would be a success or it just a mere sweet-talk to make the victims feel better?
    1 Replies
    0 Reply
    user-avatar
    18 Apr

    I’m not really having so much hope on that to be honest because we have seen promises on promises from them and yet they did nothing. We can only be hopeful.

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