June 17, 2026
cbex

Weeks after abruptly shutting down and allegedly absconding with hundreds of thousands of dollars from Nigerian investors, the controversial digital financial platform Crypto Bridge Exchange (CBEX) has surprisingly resumed operations nationwide.

This return comes despite a ban from the Securities and Exchange Commission (SEC) and an ongoing N1.2 trillion probe of its activities by the Economic and Financial Crimes Commission (EFCC).

In a suspicious move, the alleged Ponzi scheme has imposed a new condition for its burdened investors: a mandatory payment of $200 to reactivate their accounts before any funds can be withdrawn.

The re-emergence of CBEX has been met with a mix of cautious optimism and deep skepticism among its former users.

Despite the apparent return of balances, the new payment requirement is a major point of contention.

In April, many Nigerians experienced devastating financial losses when CBEX abruptly ceased operations, making it impossible for investors to access their accounts. The platform, which masqueraded as a digital trading investment scheme, had promised to double investors’ deposits within 40 days.

The sudden halt in operations led to widespread outages and panic, culminating in reports of looting at the scheme’s Ibadan office. The Telegram group associated with CBEX was subsequently locked, preventing users from expressing their grievances. At the time, CBEX operators blamed the loss on hackers, alleging a breach of their security systems.

The EFCC swiftly launched an investigation into the scheme, announcing the arrest of several suspects and tracing funds to at least three to four countries. In the wake of these developments, the commission declared some of the scheme’s Nigerian collaborators wanted, with two more individuals added to the wanted list just last week.

However, the EFCC has also tempered expectations regarding the full recovery of lost funds, stating that it would not be able to return the investments of all victims affected by the scam.

The latest demand from CBEX adds another layer of complexity and potential financial risk for Nigerians hoping to reclaim their investments from a platform already under heavy scrutiny for its alleged fraudulent activities. Investors are now left to weigh the risk of paying an additional fee against the slim hope of recovering their lost savings.

72 thoughts on “Crypto Bridge resurfaces demands $200 from Nigerians to recover frozen funds

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