CBEX Ponzi Scheme Resurfaces, Demands $200 Fee from Nigerians to ‘Recover’ Stolen Funds
Weeks after vanishing with hundreds of thousands of dollars belonging to Nigerian investors, controversial digital platform Crypto Bridge Exchange (CBEX) has reportedly resumed operations—this time with a catch.
According to multiple investors, the operators of the scheme are urging users to log back into their accounts, claiming that their lost funds have been restored. “Someone told me to check my CBEX account this morning, claiming our balances had been restored,” one investor told Peoples Gazette, sharing a screenshot of the seemingly returned funds.
However, the platform has introduced a troubling new condition: investors must pay $200 to reactivate their accounts before making withdrawals.
“This seems like another trap—they’re asking for $200 to ‘continue trading’ before allowing withdrawals,” another investor warned.
The new reactivation fees appear to be tiered. Investors with over $1,000 in their accounts are being charged $200, while those with smaller balances are reportedly asked to pay $100.
In April, CBEX abruptly shut down, freezing accounts and erasing millions in user funds. The collapse caused chaos and anger, including the looting of the platform’s Ibadan office. CBEX had lured users with promises of doubling their investments in 40 days.
When victims turned to the platform’s Telegram group for answers, administrators silenced them—blaming the platform’s collapse on a “hacker attack” that allegedly compromised their systems.
Since then, Nigeria’s Economic and Financial Crimes Commission (EFCC) has arrested several individuals linked to the scheme and traced stolen funds to multiple foreign nations. The EFCC has also declared several Nigerian collaborators wanted, adding more names to the list just last week.
Despite these developments, the EFCC has warned that the chances of fully recovering investors’ funds remain slim—leaving many victims clinging to false hope.
COMMENTS