Weeks after vanishing with millions of naira in investors’ funds, the notorious cryptocurrency scam Crypto Bridge Exchange (CBEX) has resurfaced online, making fresh demands from its victims in what appears to be yet another layer of deception.
Multiple investors confirmed to PurpleWorld Media that CBEX administrators are urging them to log back into their accounts with the promise that their balances have been “restored.” However, the platform has now introduced a new paywall: victims must deposit $200 to reactivate their accounts before any withdrawal is permitted.
“This looks like another scam tactic,” one affected user said. “They claim my money is back in the account, but now they want $200 to ‘resume trading’ before I can touch it.”
According to reports, investors with balances exceeding $1,000 are being charged $200, while those with smaller amounts are told to pay $100. Screenshots seen by People’s Gazette show supposedly reinstated balances in users’ CBEX dashboards.
CBEX had shut down abruptly in April 2025, locking thousands of Nigerians out of their accounts and wiping away hard-earned savings. The platform, which posed as a legitimate cryptocurrency trading firm, had promised users outrageous returns—up to 100% profit in just 40 days.
When complaints flooded its Telegram support group, CBEX admins muted users and blamed the platform’s collapse on a so-called “hacker breach” that allegedly compromised their systems.
The Economic and Financial Crimes Commission (EFCC) has since launched investigations into the platform, arresting several individuals connected to the fraud and tracing diverted funds to at least four foreign countries. Despite this, the agency has cautioned that full recovery of the stolen money is unlikely.
The EFCC also declared several local collaborators wanted, adding two more names to the list just last week. Meanwhile, public outrage continues to mount, with many victims warning others not to fall for the platform’s latest trick.
“They already took everything from us,” another investor said. “Now they’re asking for more. It’s disgusting.”
