Crypto Bridge Exchange, known as CBEX, has returned weeks after vanishing with hundreds of thousands of dollars from Nigerian investors. The digital platform, earlier exposed as a Ponzi scheme, had promised to double users’ investments within 40 days before abruptly shutting down in April.
Many victims lost access to their accounts overnight. The shutdown sparked panic and led to a raid on CBEX’s Ibadan office by angry investors.
Victims Asked to Pay Again to Access Funds
Several investors say the platform is now urging them to return. According to reports, CBEX restored user balances on their accounts. However, it requires them to pay again before they can withdraw any funds.
“Someone told me to check my CBEX account this morning. I logged in and saw my balance had returned,” one investor told Peoples Gazette. They shared a screenshot as proof.
But this hope came with a condition. CBEX now demands a new activation fee between $100 and $200. Investors with previous deposits above $1,000 must pay $200. Those with less than that are asked to pay $100.
Another investor expressed concern. “It feels like a new trick. They want us to pay again before we can withdraw anything.”
After the initial collapse, CBEX blamed hackers and locked its Telegram group to silence complaints. The platform offered no solid explanation for the lost funds.
The Economic and Financial Crimes Commission (EFCC) has arrested several suspects connected to the scheme. The agency says it has traced stolen funds to at least four countries. It also declared more Nigerian collaborators wanted, including two new names last week.
However, the EFCC has warned that it may not be able to return all lost investments. The agency cited the complexity of tracing funds spread across international networks.
As CBEX tries to regain public trust, financial experts and security agencies continue to advise Nigerians to remain cautious.
