CBEX Crypto Archives

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Crypto Dreams, Crashed: Nigerian Investors Count Losses in $840m CBEX Ponzi Collapse

June 12, 2025KryptonaryCryptocurrencyCBEX Crypto, Nigerians

Lagos, Nigeria— For Mandela Fadahunsi, a 26-year-old staffer at a technical school in Ikeja, April 6 began like any other. But a WhatsApp message from a fellow investor in the cryptocurrency platform Crypto Bridge Exchange (CBEX) changed everything. Someone had tried to withdraw funds but failed. Alarmed, Fadahunsi attempted to take out his 500 USDT—roughly…