Ponzi Scheme, CBEX, crashes leaves Nigerians in Pains and Agony as Investors Loot Ibadan office.

TENSION is mounting among users of CBEX, a popular cryptocurrency and forex trading platform, following reports that the company has emptied the accounts of hundreds of investors without prior notice.

News reports that the platform, which had gained widespread attention due to its high-yield investment packages and aggressive online marketing, is now facing serious allegations of investment fraud.

Multiple users have come forward, revealing that they discovered their account balances wiped out when they logged into the CBEX platform over the weekend. The affected users, some of whom had invested amounts ranging from ₦200,000 to over ₦5 million, have expressed devastation, with many finding themselves financially stranded.

Kunle Adewola, a tech expert, shared his shock with the Nigerian Tribune, stating, “I thought it was a glitch at first. But when I tried to withdraw and got an error message, I knew something was wrong. My entire savings is gone.”

The incident comes just hours before the scheduled withdrawal date of April 15, which CBEX had promised investors after suspending all withdrawals on April 11. This has added to the frustration of many who had hoped to retrieve their investments by that date.

The platform’s sudden and unexplained action has left users in a state of disbelief, as there was no prior communication from CBEX administrators explaining the situation or offering any recourse.

With the company’s credibility now in question, the ongoing developments have raised concerns about the safety of cryptocurrency and forex investments, leaving many users wondering if they will ever recover their funds.

Meanwhile, some angry Nigerians have looted the office of the CBEX platform in Oke Ado, Ibadan, Oyo State.

Trending videos show angry investors looting televisions, Air Conditions and many other items from the office.