After weeks of anxiety and disruption, investors on the Crypto Bridge Exchange (CBEX) are expressing relief as trade volumes on the platform have been restored, reviving confidence in the exchange’s digital operations.
Users, who had previously been locked out of their accounts, can now access their dashboards and resume trading activities, marking a significant turnaround following a period of uncertainty.
CBEX made its debut in 2024, gaining traction with bold claims of delivering 100% returns on investment within 30 days, allegedly powered by AI-driven algorithmic trading. With flashy branding reminiscent of Shanghai fintech firms and the presence of upscale ‘offices’ in Lagos and Ibadan, the platform attracted a large Nigerian user base through aggressive multi-level marketing and referral schemes.
However, on April 14, 2025, Tribune Online reported that the exchange had wiped out the balances of hundreds of investors without warning. This development halted withdrawals and denied users access to their accounts, sparking protests at the company’s physical locations.
In response, the Economic and Financial Crimes Commission (EFCC) launched an investigation, declared several individuals wanted, and eventually made a number of arrests. According to Tribune Online, the EFCC Chairman recently confirmed that the agency has recovered part of the funds involved in the case.
