EFCC Chairman drops bombshell over investigation of CBEX

• EFCC Chairman Ola Olukoyede has disclosed that the committee had recovered immoderate funds from the integer concern platform, CBEX
• The EFCC president maintained that the anti-graft bureau had made important advancement successful its probe of the fraud connected the CBEX platform
• Olukoyede explained that the committee is inactive investigating, and immoderate persons person been arrested portion inactive astatine large

Ola Olukoyede, the president of the Economic and Financial Crimes Commission (EFCC) has disclosed that the anti-graft bureau had recovered immoderate funds from the integer concern level Crypto Bridge Exchange (CBEX).

The president of the anti-graft committee disclosed, portion speaking successful an interrogation connected TVC, that the bureau had besides made immoderate arrests.

EFCC announces reovery of immoderate funds from CBEX Photo Credit: @officialEFCC
Source: Twitter

Update connected EFCC's probe of CBEX

He further explained that the bureau had made important advancement concerning its probe into CBEX, a trading level that precocious defrauded galore Nigerians. His connection reads successful part:

“We person gone acold with CBEX. We person been capable to retrieve a tenable magnitude of money.”

He further explained that the stolen wealth was recovered successful cryptocurrency and that the EFCC has been capable to hint and retrieve portion of it. The EFCC brag explained that it has been hard to person the wealth backmost to dollars successful cash, adding that specified requires going done akin processes.

Olukoyede explained that determination is nary mode the money tin beryllium gotten successful dollars without going done the process. However, helium affirmed that the committee had made important advancement and had made immoderate tenable arrests.

EFCC Chairman speaks connected probe of CBEX Photo Credit: @officialEFCC
Source: Twitter

Why EFCC volition springiness overmuch to CBEX investigation

He maintained that the committee volition springiness overmuch to its probe due to the fact that they don't privation immoderate disruption successful the process. He noted that the committee is inactive aft galore of those who were declared wanted.

The EFCC president besides made it known that the probe has been challenging due to the fact that non-custodian wallets were utilized by the fraudsters. He explained that this means the accounts person nary individuality attached to them, which was the main crushed it was hard to hint the criminals.

According to Olukoyede, tons of wallets are inactive nether investigation, and the ones they created are non-custodial, saying this is wherever wealth is being dispersed. Therefore, it can't beryllium traced to anybody

Thus, the fraudsters moved the wealth from the non-custodian wallets successful wallets successful Eastern Europe, peculiarly Cambodia, and it was from this juncture that the wealth was dispersed. He said the EFCC has been capable to artifact immoderate of these wallets wherever the wealth had not yet been dispersed.

Video of Olukoyede interview is here:

Nigerians respond arsenic CBEX crashes

Legit.ng earlier reported that the CBEX illness was heartbreaking for Nigerians who had invested successful the integer fiscal platform, arsenic they lamented connected societal media.

The BBC has reported Nigerians' absorption and however the strategy brought backmost the representation of MMM, a fashionable fiscal Ponzi strategy which crashed successful 2016.

MMM, which was founded successful November 2015, reportedly had up to 3 cardinal Nigerian investors earlier it crashed.

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Source: Legit.ng