CBEX: Nigerians lose N1.3tn as digital trading platform crashes

Ponzi scheme: 5 facts about CBEX digital trading platform

A digital trading platform, China Beijing Equity Exchange (CBEX), has collapsed, leaving an estimated 300,000 investors grappling with losses surpassing N1.3 trillion (approx. $840 million). The crash, which occurred on Monday, April 14, triggered widespread outrage. Distraught investors flooded social media platforms like X and TikTok, sharing stories of vanished life savings and unpaid loans. By Tuesday, April 15, tensions had spilt into the s…

CBEX accounts in Nigeria: People fear savings lost as investment app freezes them out

People share videos of themselves crying, saying that they cannot withdraw their money on CBEX.

CBEX: Nigerians lose N1.3tn as digital trading platform crashes

Nigerians took to their various social media platforms to lament their losses after a digital asset trading platform, known as CBEX, allegedly swept over N1.3 trillion from investors’ accounts on Monday. This comes as CBEX, operating without legal approval from the Nigeria Securities Commission, crashed on Monday after the money in their investors’ wallets vanished. The digital platform also locked its Telegram channels and postponed withdrawals…

Nigerian women in tears after allegedly losing millions to crashed CBEX trading platform

Several Nigerian women have been seen breaking down in tears after reportedly losing millions of naira to CBEX, a digital trading platform that recently crashed. According to circulating reports, the platform became inaccessible after users experienced difficulties withdrawing their funds. Many later discovered that their account balances had been wiped to zero. CBEX had positioned

Amid fears over CBEX, SEC warns against unregistered trading - Daily Trust

The Securities and Exchange Commission (SEC) says the newly enacted Investments and Securities Act, 2025 (ISA 2025) makes it illegal to operate digital asset exchanges or online foreign exchange trading platforms without formal registration with the commission. Daily Trust reports that this comes amid fears that CBEX, a digital asset trading platform, has crashed. Since Friday, there have been concerns over the operations of the platform, with s…

SEC reacts to crash of CBEX

By Chioma Obinagwam Nigeria’s Securities and Exchange Commission (SEC), has reacted to the crash of CBEX (Crypto Bridge Exchange). Confiance News gathered from an official statement it issued on the official X handle of the Commission. It said: “The Commission hereby clarifies that neither CBEX nor its affiliates were granted registration by the Commission at […]