Nigerians are reeling — and venting — after the sudden crash of CBEX, a digital trading platform that reportedly vanished with over ₦1.3 trillion in investor funds. For many, it’s déjà vu of the MMM disaster, sparking a fresh wave of heartbreak, disbelief, and online backlash.
CBEX had promised mouthwatering returns — a 100% ROI in just 30 days — all thanks to “AI-powered trading.” But by Monday, everything vanished. Wallet balances dropped to zero. Telegram support groups were locked. And in a final blow, victims were asked to pay an extra $100–$200 for a sketchy “verification process” if they ever wanted to see their funds again.
Reports suggest over $822 million in digital assets were funneled into a private Ethereum wallet before CBEX disappeared, leaving thousands of Nigerians stranded.
On X (formerly Twitter), reactions ranged from empathetic to downright savage.
“After the MMM shege, Nigerians still invest in Ponzi,” wrote @MissCazorla1, throwing shade at those who ignored obvious red flags.
Another user, @emma75039, who lost ₦100k during the MMM saga, was stunned:
“Don’t you people ever think? Now CBEX has done you dirty again.”
Others couldn’t believe how quietly CBEX spread its web.
“This CBEX thing wasn’t even popular,” said @lollypeezle. “You were making money in silence. Now you want pity? Ko le werk. Cry.”
Still, amid the chaos, some users tried to educate others on the dangers of “get-rich-quick” traps.
“Any investment that defies basic principles of wealth creation is a scam,” warned @Fx_General_.
The Securities and Exchange Commission (SEC) has stepped in, reminding Nigerians that under the newly signed Investments and Securities Act 2025, all digital trading platforms must now be licensed. Any unregistered exchange — like CBEX — operates illegally and puts investors at serious risk.
In the meantime, Nigerians are left picking up the pieces — some angry, others heartbroken, but all reminded once again: if it sounds too good to be true, it probably is.
