SEC: Nigeria’s crypto transactions surpass $50bn in one year
SEC DG Emomotimi Agama revealed that Nigeria recorded over $50bn in cryptocurrency transactions between July 2023 and June 2024, far exceeding participation in the traditional market.
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SEC warns Nigerians against rising AI-powered investment scams
The Securities and Exchange Commission (SEC) has warned Nigerians about the surge of AI-powered scams promising fake profits and endorsements.
EFCC arraigns two over alleged CBEX investment fraud in Abuja
Both defendants pleaded not guilty to the charges.
CBEX returns, demands $200 from victims to access frozen funds
“We were asked to pay $200 to continue trading before applying for withdrawal…Those with investments below $1,000 must pay $100.” – Victims
CBEX investors rejoice as frozen funds return amid EFCC probe
Traders are now able to access their accounts and resume trading with renewed assurance, following weeks of tension and uncertainty.
Nigerians warned: Avoid Silverkuun’s ‘fake’ investment offers – SEC
Regulator cracks down on illegal fund managers as digital asset rules tighten
“From CBEX to Conspiracies: Why Nigerians Keep Falling for Scams and Misinformation” – Reno Omokri
Many Nigerians lost trillions to CBEX, reflecting a pattern of gullibility driven by misinformation, conspiracy theories, and blind trust in unverified social media claims and fraudulent investment schemes.
EFCC: Full refund to CBEX victims ‘practically impossible’ as funds traced abroad
“Most of the illicit transactions were routed through crypto wallets outside Nigeria’s jurisdiction,” he said.
We’ve traced CBEX crypto scam funds to four nations, full recovery impossible – EFCC
‘I will not sit down and tell you that we are going to restitute every victim.’
CBEX returns as platform quietly resume operation amid audit, ban
Promoters insist the platform is insured and have introduced a capital injection system, allowing previous investors to restore account balances by depositing additional funds.