Chaos Erupts as CBEX Investors Discover Empty Accounts Amidst Fraud Allegations

In a shocking turn of events, the popular cryptocurrency and forex trading platform, CBEX, is facing serious backlash after hundreds of users reported their investment accounts were wiped clean without prior notice. The platform, once hailed for its high-yield investment schemes and flashy online presence, now stands at the center of mounting tension and public outrage.

Over the weekend, users logging into the CBEX portal were met with horror as their account balances had vanished. From modest investors staking ₦200,000 to heavyweights putting in over ₦5 million, the impact has been devastating. The incident happened just days after CBEX suspended withdrawals on April 11 and promised a resumption by April 15—a date many were clinging to in hope of retrieving their funds.

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Credibility Crisis: CBEX Under Fire as Chaos Unfolds

What was once a thriving investment hub is now accused of being a full-blown fraud scheme, with public trust crumbling rapidly. According to Kunle Adewola, a Nigerian tech expert and affected investor, “I thought it was a glitch at first. But when I tried to withdraw and got an error message, I knew something was wrong. My entire savings is gone.”

Amid growing suspicions, CBEX has yet to release an official statement, leaving users in the dark. No emails, alerts, or announcements were issued to notify account holders of the shocking development. The silence from CBEX administrators has only deepened the fears that the platform may have orchestrated an elaborate exit scam.

Anger boiled over in Ibadan, Oyo State, where irate investors stormed and looted the CBEX office in Oke Ado. Viral videos on social media show furious individuals carting away office equipment, including televisions and air conditioning units.

On X (formerly Twitter), the scandal has triggered a digital firestorm, with hashtags like #CBEXScam and #JusticeForCBEXInvestors trending as thousands of Nigerians voice their frustration.

A user, @DaddyGO4825, lamented,
“CBEX finally crashed. Check your account AI trade all. Millions of money gone 😭😭😭 This is so sad. Sorry for the lose.”

Another, @r2kizzmusic, revealed,
“So I was invited to CBEX all in the name of making enough money to push my unreleased song… only to wake up today and discover that all my $4000 is gone 😭😭😭.”

Others have turned to sarcasm and dark humor to cope with the reality. @purity_gifts tweeted,
“Let me go and take antibiotics to cure this #CBEX scam headache… My dream car will have to wait.”

As the fallout continues, questions swirl around the nature of CBEX’s “AI trading” features, which claimed to guarantee consistent profits with no losses. Many users now believe the platform’s marketing was intentionally deceptive.

With no clear pathway for fund recovery and regulators yet to weigh in, affected investors are calling for government intervention. Legal experts are also beginning to weigh the prospects of class-action lawsuits.

The CBEX debacle is a sobering reminder of the risks associated with unregulated investment platforms, particularly in emerging digital markets like crypto and forex.