Weeks After Sudden Shutdown CBEX Ponzi Scheme Reportedly Resumes Operations, Demands $200 from Nigerians to Recover Lòst Funds

Weeks after suddenly shutting down and absconding with hundreds of thousands of dollars from unsuspecting Nigerian investors, the fr@udulent digital financial platform Crypto Bridge Exchange (CBEX) has resumed operations nationwide.

Investors revealed that the scheme’s operators have urged them to log back into their accounts to recover their lost investments.

“Someone told me to check my CBEX account this morning, claiming our balances had been restored,” one investor told Peoples Gazette, sharing a screenshot of the supposedly returned funds.

However, the Ponzi scheme has imposed a new condition: investors must pay $200 to reactivate their accounts before withdrawing their money.

“This seems like another trap—they’re asking for $200 to ‘continue trading’ before allowing withdrawals,”* another investor said. “Those with investments over $1,000 must pay $200, while smaller investors are charged $100.”

In April, CBEX abruptly froze operations, locking investors out of their accounts and wiping out life savings. The shutdown triggered widespread outrage, including the looting of the scheme’s Ibadan office.

Posing as a digital trading platform, CBEX had promised to double investors’ deposits within 40 days. When victims tried to voice their grievances on the scheme’s Telegram group, administrators restricted access, blaming the losses on a “hacker attack”that allegedly compromised their security systems.

The Economic and Financial Crimes Commission (EFCC) has since arrested suspects tied to the scheme, tracing stolen funds to three or four foreign countries. The agency also declared several Nigerian collaborators wanted, adding two more names to the list last week.

Despite these efforts, the EFCC admitted it may not be able to recover all lost investments,leaving many victims with little hope of restitution. [CONTINUE READING HERE]>>>>>