Despite being under EFCC investigation over a ₦1.2 trillion fraud scandal, crypto platform CBEX is back online — and it’s allowing trades and withdrawals again.
CBEX is accused of running a Ponzi-like scheme that collapsed in April 2025.
Over 600,000 Nigerians reportedly lost money, some their entire life savings.
The platform now allows new sign-ups and limited withdrawals.
Full access to frozen funds is promised by June 25, 2025, after an audit.
SEC has labelled the platform illegal; EFCC’s probe remains ongoing.
It’s hard to believe CBEX is up and running again while still under investigation. For many affected Nigerians, this feels like adding salt to the injury. The promised June refund depends on a UK-based insurer’s audit, but there’s deep mistrust in the air. After promises of 100% profit in 30 days, people are rightly sceptical. This isn’t just about lost funds — it’s about broken trust in tech, regulation, and protection for everyday investors.
CBEX is back — but should it be? And will those affected ever really get their money back?
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