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3 days ago
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- In a astonishing development, immoderate Nigerian investors connected CBEX person reportedly begun making further deposits
- This follows a station from the institution successful its Telegram group, mounting a deadline for relationship verification."
- The station warns that nonaccomplishment to verify accounts volition effect successful imperishable nonaccomplishment of funds, prompting immoderate users to respond successful hopes of regaining access
Legit.ng journalist Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.
Some Nigerian investors person reportedly started making further $100 and $200 deposits to CBEX, successful hopes of regaining entree to their funds.
CBEX, an concern level that claims to springiness 100% Returns successful 30 days, restricted withdrawals connected April 9, 2025.
Subsequently, it sent a connection to the investors to marque further deposits to the wallet arsenic portion of a verification process to authenticate ownership.
The message read;
“All accounts request to acquisition the pursuing verification steps to guarantee their authenticity. 1. For accounts with funds beneath $1,000 earlier immoderate losses, a deposit of $100 is required. 2. For accounts with funds exceeding $1,000, a deposit of $200 is required. Additionally, delight support your deposit receipts to guarantee you tin beryllium the authenticity of the relationship during aboriginal withdrawal reviews.”The connection met with an uproar connected societal media, arsenic investors claimed that each wallet balances had reverted to $0.00.
Source: UGC
One capitalist claimed to person invested N480,000 ($300) into the platform, which was to person been her schoolhouse fees. She confirmed that her wallet equilibrium had reverted to $0 arsenic well.
A man, Ub Edem Uman, who predicted successful March that the online concern level would soon crash, has since gone viral.
Nigerians unreserved to wage arsenic CBEX releases verification deadline
An X idiosyncratic @NdFrek warned that the level is simply a Ponzi strategy and is conscionable successful the last stages earlier crashing.
“The archetypal measurement a ponzi strategy takes earlier its inevitable clang is to restrict withdrawals. The 2nd measurement is erstwhile they archer you to put a small much earlier you tin withdraw. The last measurement is erstwhile you effort to cheque the website & you spot "under maintenance. CBEX is connected Step 1”However, a caller update seen connected X shows that immoderate users person started making the required outgo successful the hopes of accessing the money.
The post read;
"Update: Nigerian hopefuls person started paying the $100 and $200 to CBEX for “account verification”. Because, anyone who doesn’t wage earlier 17th, volition beryllium flagged and their relationship deleted without compensation."An attached representation showed that 1 investor, identified arsenic Ola Dabira, was threatening to instrumentality her beingness arsenic she claimed she did not person immoderate means of raising $100 to pay.
Some X users described this determination arsenic "the last cashout", "second billing" and arsenic a "sendoff outgo to CBEX".
One user, @Ola_ayeni_ said;
"It's inactive the rob Peter to wage Paul racket that pyramid ponzi schemes employ. It's said."
Source: Twitter
Lawyer speaks connected CBEX Investment Platform
Timi Agbaje, a lawyer and contented creator known for making legal-related content, has brought the legal perspective to the matter.
Agbaje blamed investors for going up to put successful CBEX, a level that was neither registered nor regulaed by the Securities and Exchange Commission (SEC).
He said;
"Many of you person dedicated your beingness to escaping poorness done shortcuts, that is to accidental you privation to usage backmost doorway to go Bill Gates."FG bans online forex trading platforms, others
In related news, Legit.ng reported that President Bola Tinubu signed the Investments and Securities Act 2025 into law.
This instrumentality introduced respective reforms, including a prohibition connected online overseas speech (forex) trading platforms and different online concern platforms.
The SEC warned Nigerian investors to guarantee that they lone put with registered and regulated bodies.
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Source: Legit.ng
