Raphael Johnson
Reports say despite the alleged N1.2tn digital trading fraud that reportedly affected over 600,000 Nigerians, the embattled Crypto Bridge Exchange (CBEX) trading platform, accused of these acts, has resumed operations, announcing fresh withdrawal options in a move to restore investor confidence.
According to sources, some traders on the CBEX platform confirmed to said the digital trading firm has quietly resumed operations, allowing new users to register, trade, and withdraw profits, despite ongoing investigations by regulatory agencies.
According to the sources, an insurance verification process and an external audit of the company’s financial records are currently underway to ascertain the actual amount lost in the scheme, which collapsed in April.
They added that existing investors, many of whom have been unable to access their funds for weeks, will be able to take out their funds starting from June 25, 2025, when the audit is expected to be concluded by an insurance firm based in the United Kingdom.
This development comes barely weeks after the Securities and Exchange Commission declared the platform illegal, and the Economic and Financial Crimes Commission confirmed an ongoing investigation into the firm’s operations.
CBEX, a digital investment platform, offered investors 100 per cent profit after 30 days of purported AI trading. The trading platform started operations in 2024 after receiving registration approval from the Corporate Affairs Commission on September 25, 2024, and the EFCC’s Special Control Unit Against Money Laundering on January 16, 2025.
About 600,000 Nigerians reportedly invested in the scheme and lost N1.2tn after it collapsed on April 14, 2025.
