Inside the ‘Billionaire’ Illusion: The Scheme Pushing Students Into Debt, and Exploitation
A deep dive into the deceptive ‘billionaire’ scheme drawing students into debt, manipulation and exploitation under the guise of quick wealth.
CBEX
EFCC Invites CBEX Victims to Lagos, Ibadan Offices
The Economic and Financial Crimes Commission (EFCC) has urged Nigerians who lost money to the CryptoBridge Exchange (CBEX), a Ponzi scheme that defrauded hundreds of thousands of people, to visit its Ibadan and Lagos offices to assist with ongoing investigations. This was disclosed in a statement released by Dele Oyewale, Head of Media and Publicity … Read more
EFCC Gives Update on CBEX Funds Recovery
The Economic and Financial Crimes Commission has said it is still recovering funds linked to the collapsed CBEX Global Investment scheme. CBEX, a Ponzi scheme, collapsed in April this year, leaving many investors stranded. No fewer than 600,000 Nigerians reportedly invested in the scheme and lost N1.3tn after it collapsed. Following the crash, some of … Read more
Court rejects CBEX promoters’ bail Application
The Federal High Court sitting in Abuja has rejected the bail applications of the three promoters of the now-collapsed and fraudulent cryptocurrency investment scheme, known as “CBEX”. Justice Emeka Nwite rejected the bail application in a ruling, yesterday. Following their detention in connection with an alleged $1 billion scam targeting Nigerian victims. The legal team … Read more
CBEX Resumes Operations, asks Nigerian Investors To Deposit $200
Controversial digital financial platform, Crypto Bridge Exchange, also known as CBEX, which is categorized as Ponzi scheme, has resumed business across the country. This is coming weeks after it suddenly halted operation and made away with hundreds of thousands of dollars belonging to unsuspecting Nigerians investors. Investors said they were asked to return to the … Read more
‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has revealed that the agency has recovered some money from the digital investment platform Crypto Bridge Exchange trading platform. Olukoyede also disclosed that the EFCC has made arrests in connection with the CBEX fraud. “We have gone far with CBEX. We have … Read more
EFCC Releases details of ‘8 Wanted’ Suspects Over CBEX Scam [Full List]
The Economic and Financial Crimes Commission (EFCC) has declared 8 individuals wanted for their alleged involvement in a fraudulent scheme executed through an online trading platform known as Crypto Bridge Exchange (CBEX). The agency issued the public notice via its X handle in two batches of four suspects each on Friday. The first batch comprised … Read more
Can Nigerians still Placed Fund Withdrawal? – What you need to know as CBEX crashes
Nigerians on several social media platforms have begun to count their losses as a digital asset trading platform popularly known as CBEX reportedly swept over N1.3 trillion from their investors’ accounts. The digital trading platform crashed on Monday after the money in their investors’ wallets vanished. CBEX also locked its telegram channels and postponed its … Read more
Angry Youths loot CBEX Office in Ibadan [Video]
A crowd of aggrieved Nigerian youths has ransacked the office of CBEX, a digital asset trading platform, located in the Oke Ado area of Ibadan, Oyo State. In several videos making rounds on social media, the visibly enraged individuals can be seen looting the premises. The action is reportedly in protest over the loss of … Read more