CBEX, a digital asset trading platform that promised investors a 100% return within 30 days, has collapsed, leaving thousands of Nigerians locked out of their funds. Initially marketed as a high-tech, AI-powered trading service with ties to China, the platform turned out to be another classic Ponzi scheme.
As the dust settles, only hundreds of thousands of dollars in verifiable losses have been confirmed, although the real figure could be far higher. The collapse has sparked outrage across the country, with furious investors ransacking alleged CBEX offices in Ibadan and Lagos.
Nigeria’s Securities and Exchange Commission (SEC) has since warned the public about the dangers of unregistered platforms, using the CBEX disaster as a painful reminder. Lesson? If the return sounds too good to be true, it probably is.
Read more: https://techcabal.com/2025/04/15/cbex-ponzi-collapse-nigeria/