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Apart from the ban on the Security and Exchange Commission (SEC) and the investigation launched by the Economic and Financial Crime Commission (EFCC) into the alleged N1.2TN digital trade fraud that reportedly affected more than 600,000 Nigerians, the crypto trading platform, the Crypto Bridge Exchange (CBEX), had announced that they had continued operations in the country.
The unnamed operator from the platform that was fought which made this known in tweets on X on Thursday said the trading platform had continued the operation with a new withdrawal option in a step to restore investor confidence.
The operator confirmed the CBEX platform that the digital trading company had been silent, allowing new users to register, trade, and withdraw profits, despite the ongoing investigation by the regulatory agent.
According to him, “The insurance verification process and external audit of the company’s financial records are currently being carried out to ensure the actual number of missing in the scheme, which collapses in April.”
He added that existing investors, many of them could not access their funds for weeks, would be able to take their funds starting from June 25, 2025, when the audit was expected to be concluded by an insurance company based in the UK.
Also read: EFCC states foreigners who are sought for fraud connected to CBEX
“Yes, CBEX has continued the operation. New users can trade and withdraw freely, but old users face restrictions until the audit is completed on June 25, 2025.
“People can now withdraw from the CBEX platform. The withdrawal option has been activated. Let me explain the withdrawal. The old account was deleted; you have not been able to take funds from it.
“On the 14th of this month, artificial intelligence on the platform traded 100 percent, loss of trade, and destroy people’s money.
“From June 25, you can now attract up to 50 percent of your capital from the old account. For example, if you invest $ 1,000 and you can only withdraw $ 200 before, from the 25th, you can withdraw $ 400 from the remaining $ 800 capital, then from August 25, you can attract the remaining $ 400 capital. But if you do not verify, it will not reflect in your account.
“At present, new investors can register a new account, fund it, and withdraw their benefits. The new account is not under the audit. This is the old account that is being reviewed,” the operator wrote.
Yes, CBEX is reported to have continued the operation, according to the latest report. New users can trade and withdraw freely, but old users face restrictions until the audit is completed on June 25, 2025.
However, there are serious concerns. SEC has stated illegal CBEX, and EFCC is …
– Grok (@grok) May 1, 2025
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