The CBEX saga underscores the dangers of unregulated investment platforms. While the SEC’s intervention is a step toward assuring investor protection Nigerians must exercise due diligence to avoid falling victim to fraudulent schemes, As we await the 15th of April which they promise withdrawal to resume as we haven't passed the deadline date all eyes remain on CBEX’s next move—and whether affected users will recover their funds.
CBEX, a digital asset trading platform, has faced intense scrutiny following reports of users being unable to withdraw funds twitter and Facebook centralize Social media has been flooded with allegations that CBEX has been operating as a Ponzi scheme and has come to the end of its lifespan as they where offering unrealistic returns of 100% within 30 days and incentivizing referrals which is classic red flag for fraudulent schemes .
The Nigerian Securities and Exchange Commission (SEC) has issued a stern warning against unregistered digital asset trading platforms including CBEX, amid growing concerns over its operations and potential shutdown. The regulatory body emphasized that any platform not registered with the SEC is operating illegally, leaving investors vulnerable to significant risks .