Embattled crypto trading platform, Crypto Bridge Exchange (CBEX), has quietly resumed operations, introducing new withdrawal options in an apparent effort to restore investor confidence—despite being under investigation over an alleged N1.2 trillion digital trading fraud affecting more than 600,000 Nigerians.
According to Punch, two traders confirmed that the platform is now allowing new users to register, trade, and withdraw profits, even as regulatory scrutiny continues.
Sources revealed that an external audit and insurance verification process are underway to determine the extent of losses from the scheme, which collapsed in April. Existing investors—many of whom have been unable to access their funds for weeks—may begin withdrawals from June 25, 2025, once the audit, led by a UK-based insurance firm, is completed.
This development follows recent declarations by the Securities and Exchange Commission deeming the platform illegal, and confirmation from the Economic and Financial Crimes Commission (EFCC) of an ongoing probe into CBEX’s operations.
Launched in 2024, CBEX promised investors 100% returns in 30 days through purported AI-driven trading. It was registered with the Corporate Affairs Commission on September 25, 2024, and later listed with the EFCC’s Special Control Unit Against Money Laundering on January 16, 2025.
The platform collapsed on April 14, 2025, leaving over 600,000 investors with massive losses totaling approximately N1.2 trillion.
