CBEX Reappears, Shows Wallet Balances but Demands New Deposits of 200$.

 

CBEX Reappears

After months of silence and public outrage, the controversial Crypto Bridge Exchange (CBEX) has resurfaced — but not without raising new concerns. The platform, which vanished earlier this year along with its investors’ funds, has now displayed the wallet balances of affected users. However, it’s demanding additional payments before allowing withdrawals.

 

CBEX, widely regarded as a Ponzi scheme, had lured thousands of Nigerians with promises of doubling investments within 40 days. The platform crashed suddenly in April, locking users out and triggering protests, including the vandalism of its office in Ibadan, Oyo State.

 

While the Economic and Financial Crimes Commission (EFCC) launched a probe shortly after the platform’s disappearance, some victims recently confirmed they can now see their original balances restored on the CBEX interface. But this so-called recovery comes at a cost.

 

According to reports, those who initially invested over $1,000 are being asked to deposit $200 to access their funds, while those with smaller investments are expected to pay $100. This new requirement has drawn criticism from investors, who view the move as another ploy to extract money.

 

One investor who spoke anonymously said, “It’s insulting. After losing my money, I’m now being asked to pay more just to get it back. I’ll wait and see, but I’m not putting in another kobo.”

 

CBEX had earlier blamed its shutdown on a cyberattack and went on to mute users on its Telegram group, effectively cutting off channels for complaints. Despite this, law enforcement agencies have made some progress. The EFCC has arrested several suspects and tracked financial transactions to multiple countries. Some individuals linked to the scheme have also been declared wanted.

 

Still, the EFCC cautions that full recovery of lost funds may not be possible.

 

As uncertainty lingers, many victims remain skeptical about CBEX’s intentions and whether the recent balance restoration is a genuine recovery effort — or just another deceptive tactic

 

Enjoyed this article? Stay informed by joining our newsletter!

Comments

You must be logged in to post a comment.

About Author