BREAKING: CBEX Scandal: Tension in Ibadan as Youths Loot Office After Losing Money to Alleged Ponzi Scheme
Ibadan, Oyo state – A group of angry youths stormed the office of CBEX Investment at the Oke Ado area of Ibadan, Oyo State capital, and looted items after the trading platform crashed.
In a trending video, the youths were seen carrying items, including an air conditioner, a fan, and other valuables.
The angry youths also removed CBEX office glasses.
According to The Punch, eyewitnesses said the angry youths forcibly entered the premises and carted away tables, couches, and other office equipment.
Read also
CBEX’s alleged crash: Timi Agbaje explains Nigerian laws on Ponzi schemes, video triggers reactions
The attack is believed to have been triggered by the sudden collapse of the platform.
The crash allegedly left many users with zero balance in their accounts.
What’s CBEX
CBEX is a digital trading asset platform that gives investors a 100% return on investment in 30 days.
The trading platform describes itself as the leading crypto exchange that helps investors trade with 99.9% accuracy using AI technology.
“I lose 450,000 naira” – investor
As reported by BBC Pidgin, one investor, simply identified as Ola, said he invested in CBEX because he did not want to spend the money.
Ola said he invested 450,000 naira in the scheme, but after making a profit, his friend who introduced him told him to wait.
“I was ready to take everything I need last week, but the same friend told me to be patient until yesterday when the crash happened.”
CBEX collapses, traps trillions of naira
Earlier, Legit.ng reported that after days of trending on social media, CBEX, an investment platform, allegedly crashed .
Trillions of naira belonging to investors in several countries have been trapped on the platform.
CBEX crash: Catholic priest makes observation
Legit.ng also reported that a Nigerian Catholic priest shared his observation about the alleged crash of CBEX, a digital assets trending platform.
Reverend Father Kelvin Ugwu, a Nigerian priest who is on a mission to the Gambia, said people do not want to be told the truth.
His comments come as people are alleging on social media that Cbex has crashed and that investors’ funds are trapped.
SEC bans unregistered online trading/investment platforms
In related news, Legit.ng reported that the federal government took a decisive step to strengthen market oversight with the newly signed ISA 2025.
Legit.ng reported that one of the provisions outlaws online foreign exchange (forex) trading platforms and other online exchanges, that are not registered or regulated by the SEC.
This is a move aimed at protecting Nigerian investors in the online space and curbing market abuses as digital trading and crypto finance continue to grow in Nigeria.
