CBEX, the controversial platform known as Crypto Bridge Exchange, has resurfaced and is once again targeting Nigerian investors who lost money when the scheme collapsed earlier this year.
This time, the operators are making a bold move. They are asking victims to pay additional fees ranging from 100 to 200 dollars before they can “recover” their trapped funds. Many affected users say this is simply another attempt to exploit their desperation.
How the Scam Is Playing Out
In late May 2025, several Nigerians reported that their CBEX accounts suddenly showed their old balances had been restored. However, when users tried to withdraw the money, they were told to first pay a fee.
People with investments below 1,000 dollars are being asked to pay 100 dollars, while those with larger deposits are told to pay 200 dollars. Only after making this payment will they allegedly be allowed to access their funds.
But several victims are warning others that this is just another scam tactic.
Quick Background: What Happened with CBEX?
CBEX abruptly shut down in April 2025, locking millions of naira in investor funds. The closure triggered outrage across the country. Crowds stormed CBEX’s Ibadan office demanding answers, while online complaints flooded social media.
The company claimed it had suffered a cyberattack, but many saw this as a cover-up. The Economic and Financial Crimes Commission (EFCC) eventually stepped in and made arrests. Investigations revealed that CBEX moved funds across borders, making recovery difficult.
While some assets were frozen, the EFCC made it clear that not everyone would get their money back.
Why the Return Is Dangerous
CBEX is now using a common Ponzi tactic creating false hope by showing restored balances, then demanding more money. This move is especially cruel because it targets people who have already lost their savings.
This strategy plays on emotion. Victims are desperate to recover their funds and may believe that a small payment could unlock their money. Unfortunately, many who pay this new fee may never see a kobo.
What You Should Do
If you’re one of the victims or know someone affected, here are some steps to take:
- Do not pay any extra fee. This is part of the ongoing scam.
- Report any contact or messages from CBEX to the EFCC.
- Warn others in your community or groups about the scam’s return.
- Avoid platforms promising guaranteed returns or asking for upfront fees.
My Personal Advice
CBEX is attempting to make a comeback by feeding on the hopes of its former victims. This is a wake-up call for Nigerians to remain vigilant, especially in our current world of online investments. Once a scheme collapses, promises of recovery especially those that require more money are usually just another trap.
If something seems too good to be true, it probably is.
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