“We were asked to pay $200 to continue trading before applying for withdrawal…Those with investments below $1,000 must pay $100.” – Victims
Months after abruptly shutting down and absconding with investors’ funds, the digital financial platform Crypto Bridge Exchange (CBEX) has resumed operations, urging defrauded Nigerians to return and reclaim lost investments.
Victims told The Peoples Gazette they were instructed to log in and pay reactivation fees. “Someone asked me to log into my CBEX account this morning that they have returned our balance,” one investor said, sharing a screenshot of restored funds.
However, withdrawals remain locked behind fresh payments. “We were asked to pay $200 to continue trading before applying for withdrawal,” another victim disclosed. “Those with investments below $1,000 must pay $100.”
In April, CBEX collapsed, wiping out life savings and sparking violent protests at its Ibadan office. The scheme, which promised 100% returns in 40 days, blamed “hackers” before disappearing.
The Economic and Financial Crimes Commission (EFCC) arrested suspects and traced stolen funds abroad but warned full restitution is unlikely. Two more collaborators were declared wanted last week.
Analysts caution that CBEX’s return is likely another scam layer. “This is classic Ponzi recycling—exploiting desperation,” a financial analyst noted.