CBEX Returns Despite ₦1.2T Probe, Vows June Payments
Controversial cryptocurrency trading platform CBEX has quietly resumed operations, drawing mixed reactions from the public as it continues to face a ₦1.2 trillion investment fraud investigation involving over 600,000 Nigerians.
The platform’s return comes despite ongoing scrutiny by the Economic and Financial Crimes Commission (EFCC) and a warning from the Securities and Exchange Commission (SEC), which declared CBEX illegal. Nonetheless, CBEX has reopened for new user registrations, trading activities, and profit withdrawals.
According to The Punch, two active users confirmed that CBEX has partially returned to business, albeit with minimal public visibility. They noted that while new users can begin trading right away, existing investors—whose funds have been inaccessible since April—will not be able to withdraw their money until June 25, 2025. This date aligns with the scheduled conclusion of an independent audit by a UK-based insurance firm.
Sources revealed that the ongoing audit and verification process is intended to assess the full scale of losses stemming from CBEX’s collapse on April 14, 2025.
CBEX initially gained popularity in 2024 by offering investors a promise of 100% returns within 30 days, purportedly through AI-powered trading strategies. The company was officially registered with the Corporate Affairs Commission on September 25, 2024, and was later cleared by the EFCC’s Special Control Unit Against Money Laundering on January 16, 2025.
However, its dramatic downfall earlier this year left hundreds of thousands of investors in financial turmoil and triggered intense regulatory and criminal investigations.
With the June 25 deadline approaching, investors and market analysts remain divided—some hopeful for restitution, others wary that the platform’s reopening may mark another chapter in what they fear is a sophisticated financial scheme.
Crypto Scandal: CBEX Resumes Operations Amid ₦1.2 Trillion Fraud Probe, Promises Withdrawals by June
Controversial cryptocurrency trading platform CBEX has quietly resumed operations, drawing mixed reactions from the public as it continues to face a ₦1.2 trillion investment fraud investigation involving over 600,000 Nigerians.
The platform’s return comes despite ongoing scrutiny by the Economic and Financial Crimes Commission (EFCC) and a warning from the Securities and Exchange Commission (SEC), which declared CBEX illegal. Nonetheless, CBEX has reopened for new user registrations, trading activities, and profit withdrawals.
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According to The Punch, two active users confirmed that CBEX has partially returned to business, albeit with minimal public visibility. They noted that while new users can begin trading right away, existing investors—whose funds have been inaccessible since April—will not be able to withdraw their money until June 25, 2025. This date aligns with the scheduled conclusion of an independent audit by a UK-based insurance firm.
Sources revealed that the ongoing audit and verification process is intended to assess the full scale of losses stemming from CBEX’s collapse on April 14, 2025.
CBEX initially gained popularity in 2024 by offering investors a promise of 100% returns within 30 days, purportedly through AI-powered trading strategies. The company was officially registered with the Corporate Affairs Commission on September 25, 2024, and was later cleared by the EFCC’s Special Control Unit Against Money Laundering on January 16, 2025.
However, its dramatic downfall earlier this year left hundreds of thousands of investors in financial turmoil and triggered intense regulatory and criminal investigations.
With the June 25 deadline approaching, investors and market analysts remain divided—some hopeful for restitution, others wary that the platform’s reopening may mark another chapter in what they fear is a sophisticated financial scheme.
Content Credit: Agbetan Bisola
Image Credit: pulse.ng
