NewStats: 3,263,823 , 8,181,517 topics. Date: Sunday, 08 June 2025 at 06:23 AM n2v3i

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’ s.

The digital trading platform crashed on Monday after the money in their investors’ wallets vanished.

CBEX also locked its telegram channels and postponed its withdrawals while giving investors the lifeline of $2,000 for $200 verification and $1,000 for $100 verification.

Analysing the crash on X space organised by Trending X, a cryptocurrency expert and security analyst, Taiwo Owolabi said data has shown that the money was moved to a TRX address (yourself:TDqSquXBgUCLYvYC4XZgrprLK589dkhSCf) and a total volume stolen so far in USDT is $847 million and likely to increase.

Owolabi stressed that the invested funds are gone because CBEX is not a licensed platform, and the creators designed a weak website to look like ByBit, which is a legitimate trading platform.

“They designed the weak website to convince people in the future that it was a security breach that affected them. Apparently, when you make payments, you pay them into a TRX , and then, immediately, they move it from that TRX wallet, gather it, convert it to USDT, then to ETH. So, when you are logging into your , there is literally no money on your profile.

“What you see are just numbers. All the daily activities you do to ‘trade’ increase your money. All the AI trading is fake. When it’s time for withdrawal, they will send you another person’s money.

“Since, you won’t be leaving them because of greed. You will most likely put the money back and even more. So, they will use that same money to pay another person. As you spread the word for them, more people will and do the same.”

What exactly is CBEX?

CBEX is a digital trading asset platform that gives investors 100 per cent Return On Investment in 30 days. Its purported goal was to create a secure, transparent environment for transactions.

However, its operational model now comes under scrutiny as allegations of fraud and deceptive practices emerge. The platform is said to display falsified withdrawal records to mask the difficulties s encounter when trying to access their funds.

Owolabi, while explaining on the X space, said that in reality, all the funds are gone. Unless people decide to pay the $100 and $200 verification fees, that way, they will settle some people and leave others to languish.

He also maintained that it was the same way popular Ponzi schemes that have duped Nigerians in the past behaved, adding, “It is a rob Peter to pay Paul’ deal.

SEC warns Nigerians against investing in Ponzi schemes

However, amid the growing concerns of the crash, the SEC clarified that, in accordance with the ISA 2025 recently signed by President Bola Tinubu, it is now an offence for any entity to operate an online forex trading platform or provide related services without prior registration with the commission.

“By virtue of this Act, it is an offence in Nigeria for any entity that is not ed by the commission to carry out the business of online foreign exchange trading platforms or related services.

“Any business entity with the plan of setting up a business in any of these areas is advised to visit the HOD DRM Department of the commission for further direction on how to with the commission to avoid sanctions,” it added.

The commission noted that “Under the newly enacted legislation, the Securities and Exchange Commission (SEC) is now empowered to regulate a broader scope of market activities as Section 3(3)(b) of the Act explicitly mandates the commission to “ and regulate securities exchanges, commodity exchanges, virtual and digital asset exchanges, and other market venues.”

Speaking on the development, the director general of the commission, Dr Emomotimi Agama, described the new law as “a landmark step in positioning Nigeria’s capital market to be more inclusive, robust, and in tune with global best practices.”

He stated, “The ISA 2025 has given the commission the legal backing to provide clarity, ensure investor protection, and enhance market confidence, especially in new and previously unregulated segments such as digital asset exchanges and online foreign exchange platforms.”

The commission reaffirmed its commitment to ing innovation while maintaining strict oversight. “We welcome innovation, but it must occur within a regulated environment that protects investors and maintains the integrity of our market,” Agama added.

https://punchng.com/can-nigerians-still-withdraw-their-money-on-cbex-what-you-need-to-know/

Another MMM ponzi scheme.

Na wah oo. People get mind sha

Nawa Nlfpmod, for this Tpain period, pipu get lion heart.

This question actually sounds like saying: "CAN NIGERIANS STILL WITHDRAW THEIR MONEY FROM MMM"?

CBex!
CBEXY!
Busting Yansh
Anal Sex

The money don go be say e don go

Nigerians wey no dey ever hear word

they dont need to know anything ,,,make ona no deceive them more

I have only heard of CBEX on Nairaland. What da heck is CBEX??

withdrawal METHOD abi? i go help u call person to COME.
ask MMM victims..... so pe "OTI LO"
papa Supe, eyan aminu tewo tewo gbe owo mi!
da ti e mo, abesidor dior ! o le won KPA!

Tears go dey surplus today.

All security agencies should be on suicide watch on Third Mainland Bridge and all highrise buildings in Lagos

Okay

Holly Gram



LITE UP my WEED in peace

WTF MAN!

MMM 02

No. Unfortunately Nigerians will keep falling for Ponzi scam . I've got no sympathy for those falling for these scammers. Research further and you'll be shocked that some people that lost money in MMM still lost money in this CBEX or whatever the name is and they will still lose if another one comes up later. Quest for money is making many people not to think straight.... Please do not blame it on the economy.

Just like MMM,there's nothing CBEX investors can do about their money,they should just wave goodbye to it.
I nearly fall for that MMM scam in 2016,but God saved me by whiskers.
But then,I am 100% sure that when another ponzi scheme enter again,some people will still fall for it.
Hundred.

It's only a scammer that will invest is or her money in 30days and expect a 100% on investment.
Which investment will u go into and give u that kind of return? If that exists most banks will have been offering such to the public.
This is what we call THIEF CATCH THIEF, both the company and people who went on the platform are all thieves.
I know many Nigerians will still not learn,una craze for money is mind boggling.only the wise and the contented will always learn

Some will still invest, even if another comes up this afternoon.

Sorry CBEX investors....it part of life. Life itself is a risk ehn. Sorry

Impossible
It's gone

This one na MMM that starts with C

Very hard to see any Ibo man invest his money in such scheme knowing fully well it will crash one day. If they manage to invest, they will cash out immediately.

I am just aware about this scheme. Wonders shall never end in Ponzi. Next year some go invest in another. Cubit Cube was one that flex us last year but I benefited it though.
It's not hard to know fake investment but some times we just and only want to hope that it should be true. Since many don't know about a better way to invest they only hope that it can be real. But unfortunately it isn't so.

So painful shaa

Meanwhile, I'm just hearing of CBEX for the first time today 😂😂😂😂

Nigerians can not can

cbex is still payingoooo...pls disregard false information

Wisdom is profitable to direct.
If anyone lacks wisdom, let him ask the Lord God.

Purely, a bunch of unwise people.

When will people ever learn?

Kaii, most Nigerians are so greedy. Is it as a result of the economic hardship or they're just naturally greedy.

Nobody can scam me with these stuffs after the heavy blow MMM and its younger brother GetHelpWorldWide dealt me in the year 2016, i can't forget that year in a hurry. I was financially miserable for some months

If CBN or NDIC no endorse am, I no dey do!

If no be thief dey worry majority of us, use 20k to collect 50k

Make Una get sense na
Na scam

If you go abroad you go make millions, na scam, money no dey grow for tree for abroad, you go work to get the money

Abeg make we wise up na

Harsh economy is why Nigerians are patronizing Ponzi schemes.
Harsh economy is the reason why Ponzi schemes will continue to thrive. In the next one week or month another one will replace CBEX and more Nigerians will swoop on it like headless chickens

It's gone.