CBEX fraud
EFCC Cracks CBEX: Cash Recovered, Arrests Made
The Economic and Financial Crimes Commission (EFCC) has confirmed significant progress in its investigation into the collapsed cryptocurrency investment platform, CryptoBank Exchange (CBEX), which defrauded thousands of Nigerians of an estimated ₦1.3 trillion. Speaking in an interview on Television Continental (TVC), EFCC Chairman Ola Olukoyede revealed that the anti-graft agency has made “reasonable arrests” and […]
EFCC Traces CBEX Loot Abroad, Says Full Recovery Unlikely
The Economic and Financial Crimes Commission (EFCC) is making significant strides in its investigation into the failed Crypto Bridge Exchange (CBEX) scheme, which defrauded Nigerians of billions of naira. However, despite ongoing efforts to recover stolen funds, the EFCC’s chairman, Ola Olukoyede, has warned that full restitution for victims may be “practically impossible.” During an […]
EFCC Denies CBEX Regulatory Role in Online Business Operations
The Economic and Financial Crimes Commission (EFCC) has categorically denied being a regulatory or clearing agency for online business platforms, in response to widespread public concern surrounding the controversial activities of Crypto Bridge Exchange (CBEX). The anti-graft agency issued this clarification following the unravelling of a massive investment scam allegedly perpetrated by promoters of CBEX, […]