As searches for “CBEX news today” and “latest news on CBEX” surge online, the fraudulent digital trading platform Crypto Bridge Exchange (CBEX) has resumed operations across Nigeria after collapsing in April 2025, leaving thousands of investors unable to access their funds.
The Ponzi scheme, which reportedly wiped out millions of dollars in savings, is now asking victims to pay $200 to reactivate their accounts and recover lost investments, sparking outrage and warnings from authorities.
Investors reported that CBEX operators urged them to log back into their accounts, claiming balances have been restored.
However, a new condition requires a $200 payment for accounts with over $1,000 invested, or $100 for smaller accounts, to enable withdrawals.
Many suspect this is another ploy to extract money from desperate victims.
Posts on X reflect public frustration, with one user lamenting, “Your fellow Nigerians are depositing $100 to $200 on CBEX for account verification… We never learn, do we…?” Telegram groups linked to CBEX have been flagged as scams.
The Economic and Financial Crimes Commission (EFCC) is actively investigating CBEX, having arrested suspects and traced funds to multiple countries.
The Securities and Exchange Commission (SEC) has warned that CBEX is unregistered and illegal, urging Nigerians to avoid unregulated platforms. Despite these alerts, economic hardship continues to drive some to risk further losses, highlighting Nigeria’s ongoing struggle with Ponzi schemes.
