Crypto Bridge Exchange, a digital investment platform previously exposed as a Ponzi scheme, has resumed operations in Nigeria after allegedly disappearing with hundreds of thousands of dollars in investor funds, and is now demanding that affected investors pay a fee to access their frozen accounts, SAVANNAH NEWSNOW REPORTS.
“Someone asked me to log into my CBEX account this morning, saying our balance had been returned,” one investor claimed on Tuesday, while sharing a screenshot showing the allegedly restored funds.
Many victims are skeptical, believing it to be another trap, as CBEX operators are allegedly demanding $200 from users with balances over $1,000 and $100 from those with lower investments before allowing withdrawals.
“But I think it is a way of luring people into it again,” another victim said. “You’re told to pay before withdrawing, even after all we lost.”
CBEX collapsed overnight in April, freezing users’ accounts and disappearing with millions of naira, sparking outrage and chaos, including looting at its Ibadan office, after promising investors their deposits would double within 40 days.
Following the crash, CBEX locked its Telegram group, preventing users from expressing frustration, with operators blaming a supposed hacking incident.
The EFCC intervened, arresting suspects linked to the scheme, and investigations revealed that funds were traced to at least four countries, with several Nigerian collaborators declared wanted and two additional suspects added to the list.
However, the EFCC acknowledged that recovering and returning all stolen funds to victims may not be possible.
