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Embattled cryptocurrency trading platform, Crypto Bridge Exchange (CBEX), has quietly resumed operations, despite ongoing investigations into an alleged N1.2 trillion crypto fraud that impacted more than 600,000 Nigerian investors.

According to reports from Punch, verified users confirmed that the CBEX platform is now allowing new registrations, live trading, and profit withdrawals. This surprising development follows weeks of uncertainty after the platform’s abrupt collapse in April 2025.

Sources close to the company revealed that a comprehensive audit and insurance verification process are currently being conducted to assess the total financial damage. The external audit is being handled by a UK-based insurance firm and is expected to conclude by June 25, 2025. Upon completion, affected investors will reportedly gain access to their withheld funds.

The company’s revival comes shortly after the Securities and Exchange Commission (SEC) declared CBEX illegal and the Economic and Financial Crimes Commission (EFCC) confirmed an ongoing investigation into the firm’s operations. These regulatory concerns have sparked widespread scrutiny across Nigeria’s digital asset community.

CBEX launched in 2024, offering investors 100% returns within 30 days through an AI-driven trading model. The platform gained legitimacy in the eyes of many users after securing business registration from the Corporate Affairs Commission (CAC) on September 25, 2024, and later receiving approval from the EFCC’s Special Control Unit Against Money Laundering on January 16, 2025.

However, the trading scheme came crashing down on April 14, 2025, leaving thousands of Nigerian investors with frozen assets and raising alarms over the risks associated with unregulated crypto investment platforms.

As CBEX attempts to rebuild its reputation, investors and regulators alike remain cautious, with many calling for tighter oversight of digital trading platforms to prevent similar large-scale financial losses in the future.

Source: https://newspremises.com.ng/2025/05/01/cbex-resumes-trading-operations-amid-ongoing-n1-2-trillion-crypto-fraud-investigation/

Orisirisi

damilola4162:
Embattled cryptocurrency trading platform, Crypto Bridge Exchange (CBEX), has quietly resumed operations, despite ongoing investigations into an alleged N1.2 trillion crypto fraud that impacted more than 600,000 Nigerian investors.

According to reports from Punch, verified users confirmed that the CBEX platform is now allowing new registrations, live trading, and profit withdrawals. This surprising development follows weeks of uncertainty after the platform’s abrupt collapse in April 2025.

Sources close to the company revealed that a comprehensive audit and insurance verification process are currently being conducted to assess the total financial damage. The external audit is being handled by a UK-based insurance firm and is expected to conclude by June 25, 2025. Upon completion, affected investors will reportedly gain access to their withheld funds.

The company’s revival comes shortly after the Securities and Exchange Commission (SEC) declared CBEX illegal and the Economic and Financial Crimes Commission (EFCC) confirmed an ongoing investigation into the firm’s operations. These regulatory concerns have sparked widespread scrutiny across Nigeria’s digital asset community.

CBEX launched in 2024, offering investors 100% returns within 30 days through an AI-driven trading model. The platform gained legitimacy in the eyes of many users after securing business registration from the Corporate Affairs Commission (CAC) on September 25, 2024, and later receiving approval from the EFCC’s Special Control Unit Against Money Laundering on January 16, 2025.

However, the trading scheme came crashing down on April 14, 2025, leaving thousands of Nigerian investors with frozen assets and raising alarms over the risks associated with unregulated crypto investment platforms.

As CBEX attempts to rebuild its reputation, investors and regulators alike remain cautious, with many calling for tighter oversight of digital trading platforms to prevent similar large-scale financial losses in the future.

Source: https://newspremises.com.ng/2025/05/01/cbex-resumes-trading-operations-amid-ongoing-n1-2-trillion-crypto-fraud-investigation/

smart guys to halt investigation to more time to japa

Very soon they will change their names and people will still stake their money with them.

This is the highest level of see finish. These guys no fear EFCC again. More like a mockery. Oya over to mumu investors. Food don done. 🙂

I will rather stake my money on either MAN U or Tottenham to win UEL. My money is safe with sportybet than with any Ponzi scheme . Nigerians are the soft targets of these Ponzi scheme operators because of the high level of poverty, greed and stupidity prevalent in the nation.