LEGIT
The message met with an uproar on social media, as investors claimed that all wallet balances had reverted to $0.00.
Some Nigerian investors are rushing to deposit additional funds into their CBEX accounts following the platform’s withdrawal restrictions on April 9, 2025.
The investment platform, which claims to offer 100% returns in 30 days, sent a message to investors, stating that accounts with balances below $1,000 must deposit an additional $100, while accounts with more than $1,000 need to add $200 for verification.
The message read; “All accounts need to undergo the following verification steps to ensure their authenticity. 1. For accounts with funds below $1,000 before any losses, a deposit of $100 is required. 2. For accounts with funds exceeding $1,000, a deposit of $200 is required. Additionally, please keep your deposit receipts to ensure you can prove the authenticity of the account during future withdrawal reviews.”
Many investors have expressed frustration on social media, reporting that their wallet balances have reverted to $0.00. One investor claimed to have invested N480,000 ($300) for school fees, only to find her account emptied.
Despite the backlash, some users have successfully withdrawn funds after making the required deposits. The Securities and Exchange Commission (SEC) continues to caution against investing in unregulated platforms.
An X user @NdFrek warned that the platform is a Ponzi scheme and is just in the final stages before crashing. “The first step a ponzi scheme takes before its inevitable crash is to restrict withdrawals. The second step is when they tell you to invest a little more before you can withdraw. The final step is when you try to check the website & you see “under maintenance. CBEX is on Step 1”
