- Safiu Kehinde
In what appears to be an audacious attempt to confront the Nigerian agencies and regulators, Crypto Bridge Exchange (CBEX) has resumed operations despite ongoing scandal and investigation for scamming thousands of Nigerians.
CBEX had previously thrown thousands into shock two weeks ago after their investment scheme went down leaving many subscribers in lamentations..
The incident had led to the initiation of probe by the Economic and Financial Crimes Commission (EFCC) which had since declared over eight of CBEX officials wanted.
The digital platform would however announce its resumption as disclosed in a post shared in X on Thursday.
It also introduced new withdrawal options aimed at restoring investor confidence.
According to Report Afrique, sources close to CBEX revealed that an external audit of the company’s financial records, alongside an insurance verification process, is currently underway to establish the true extent of the losses.
They also disclosed that old investors will be able to withdraw funds starting June 25, 2025, once the audit is completed.
New users are, however, permitted to register, fund their accounts, and withdraw profits without restrictions, as these accounts are not part of the ongoing audit.
Reacting to the fraudulent allegation against the platform, CBEX’s promoters reportedly deny claims of fraudulent activity, asserting that investor funds remain secure.
They attributes the reported losses to a malfunction involving an AI trading incident and emphasize that the platform has insurance coverage.
The platform claimed it is insured, with verification of funds ongoing by an insurance provider.