INTRODUCTION
CBEX, a foreign online trading platform, lured thousands of Nigerians into investing in its promises of high returns through daily trading. However, the outcome was disastrous, leaving many investors devastated and financially ruined.
The Allure
CBEX promised investors high profits through daily trading, with returns directly proportional to their investment. Initially, some investors were able to withdraw their earnings, creating a false sense of security. The platform's administrators encouraged others to join, claiming that investment opportunities were limited and that new investors needed to act quickly.
The Collapse
The platform's collapse was swift and devastating. CBEX's administrators abruptly stopped allowing withdrawals, citing technical issues. They then announced that new investors could join with a minimum investment of $1, claiming that this was a limited-time opportunity. Many investors, believing the platform was legitimate, took out loans, sold their properties, and invested heavily. However, the next day, CBEX revealed that it had allegedly stolen over 1.3 trillion Naira from Nigerian investors.
The Aftermath
The consequences of CBEX's collapse were severe. Many investors suffered from stress-related illnesses, including heart attacks, depression, and anxiety disorders. Some were hospitalized, while others lost their livelihoods. The incident serves as a cautionary tale for Nigerian investors, highlighting the importance of due diligence and skepticism when dealing with online investment opportunities
Very good 😍😍
Nigerians needs to be more careful!!
Thanks a lot for your participation and candid advices
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