CBEX Scam, are you still Interested in Ponzi

[Doan9269]

This recent scam happened last weekend as a ponzi schemes called cbex scammed people home and abroad of their investment asset worth $822 million. this same subject matter has been created But why people the still choose Ponzi schemes over bitcoin? on the Nigerian local board section, but I wish to also bring it here on the beginners and help section in other to help pass the information more widely to other forum users aside the naija pidjin it was been posted.

• To go further in digging into what CBEX is all about, this is a ponzi scheme that accepts investments with a minimum of $100 as investment starting capital upwards, then you stand a chance of earning certain  percentage daily from your money, make referrals which is optional and they have their physical office in Nigeria to help captivate their local investors and present their online platform to other interested foreign investors with proofs of their business registration with the government.
  

• All of a sudden, their sites becomes unreachable and people were unable to make withdrawals of their money until everything blasted and got confirmed it was a scam to all it's investors and this became a trending scam on the Internet as over $822 million worth about #1.5 trillion Naira and moved to their personal ethereum wallet.
  

Latter Reactions

It was gathered that some investors who could locate their physical office went over there to loot away their office materials and carted away any physical office equipment they saw while all their personnel couldn't be found.

This same scammers could be having other ponzi scam brands which some are also investing with already awaiting their bubble to be bursted, or may be planning another route to continue with related scam on the greedy ones that wanted to take advantage of opportunity with ponzi.

My Advice for you is simple: Learn to invest by yourself and avoid anything that involves centralized third party investment, always do things by yourself, there a common slogan here, do your own research (DYOR) and know that not your keys not your coins, don't give your digital asset to someone for an investment when you can learn how to invest on your own.

What is the Lesson Learnt.

1. Don't invest in ponzi schemes because of high returns within a short period.
2. Learn to know that crypto is not ponzi but ponzi can come in a form of crypto or any other currency.
3. Learn what ponzi scheme is and understand the meaning.
4. Don't invest on anything if you can't afford the loss.
5. Ponzi is not an investment, but a raw and pure form of scam coming in place.


Link

[tbct_mt2]

This recent scam happened last weekend as a ponzi schemes called cbex scammed people home and abroad of their investment asset worth $822 million. this same subject matter has been created But why people the still choose Ponzi schemes over bitcoin?

People like Ponzi and were scammed by Ponzi scam projects because they see it as an easy way to get rich, and get rich very quickly.

They have money but they don't want to be intelligent investors and they can not wait to be richer with Bitcoin. It takes time like months if you luckily join in a bull market, or years, cycles and they choose Ponzi, that's bad.

I believe that Ponzi scams are very easy to recognize but when people are lazy but greedy enough, they will become blindly and be scamme by Ponzi projects.

Investment Scams & Ponzi Schemes 🎩

[Porfirii]

I feel sorry for the people who lost the monty they probably couldn't afford to lose. It is quite frequent that those who have less fall the most in this kind of schemes. And I'm also sorry because 822M ended up in the hands of unscrupulous people who will surely not put them to good use.

We'll see how the case ends, but it doesn't look good...

[Charles-Tim]

I feel sorry for the people who lost the monty they probably couldn't afford to lose

My brother told me about it but I avoided it and told him it might be a scam. It is obvious that it is a scam now. We have discussed this on local board before because this happened some days ago and not just now.

It is easy to know those scam businesses but some people just do not learn about how to avoid scam.

[Obim34]

I don't understand something, how were they able to operate so far, having a physical location, and yet they don't have a license from the government. The government needs to be held accountable to some extent, if they failed to operate under a license from the government how come they lasted long enough to gather so much funds from people. EFCC came out and claimed that everyone should be in peace that they will recover all funds, let it be true because several times we have experienced similar fraudulent acts in past, its enough for individuals and the government to be aware of such future scenarios occurring.

Permit to use pidgin here "Who no wan wise na em dem go dey chop"

[Cryptomultiplier]

I feel sorry for the people who lost the monty they probably couldn't afford to lose

My brother told me about it but I avoided it and told him it might be a scam. It is obvious that it is a scam now. We have discussed this on local board before because this happened some days ago and not just now.

It is easy to know those scam businesses but some people just do not learn about how to avoid scam.

I read about this news online and I was sincerely sad to hear such having a repeat in this modern age and day when there's so much online business and cryptocurrencies to invest in for a better profit.
It still beats my imagination how CBEX got to have a hold on people looking for quick profit and even the members would organize seminars and convince unsuspecting newbies to invest.

The most saddening story was that of a woman I read who sold her properties to invest in this ponzi scheme, only to wake up to this news of their crash and obvious failure.

There's no get rich scheme without patience, work and consistent build up. If people learn this, there would be no ponzi scheme that would throw potential investors off track.

[Z390]

A aunty of mine try to introduce this Cbex to me, after checking it out right in front of her, I told her directly that it's a scam, I asked her where the money is coming from because 100% return is impossible, she responded that they paid.
I moved on and she did the same, it's been months already but suddenly I got the news yesterday that the platform exit scam already, the fact is these people are too greedy, they don't even want to do their own research before investing their hard earned money.
Few times online  some warning videos from content creators came up warning people about this Cbex, many people don't care.

I don't feel pity for the greedy ones, they deserve everything they got.

[AVE5]

• To go further in digging into what CBEX is all about, this is a ponzi scheme that accepts investments with a minimum of $100 as investment starting capital upwards, then you stand a chance of earning certain  percentage daily from your money, make referrals which is optional and they have their physical office in Nigeria to help captivate their local investors and present their online platform to other interested foreign investors with proofs of their business registration with the government.
  

So let's dog this down with necessary references so that we don't fall further to some other looking genuine platforms of making money as the Ponzi.
Just yesterday someone in an enclosed relationship with my family told me he was going to send me a link to where I can invest #150,000 approximately $93.80 at current exchange that I'll be generating #5,000 = $3.125 daily with other benefits.
He sent me this link https://ffnga111.com/#/register/7443953 which I didn't find genuine when visited the site despite their claims of being international firm and licensed.
I've been victim to Ponzi twice but I've learnt my lessons.
This site is currently working but I pity those who'll be victimized because I'm sure the organizers are waiting to acquire a very large community participants before clicking their shutdown button of the site.
I didn't make this site visible for others to participate on it but I'm sure what Op has described here is potential to what will happen to that site soon. So for safety sake, be aware that most of these portrayed licensed financial sites are operating of disguise full of scam.
Anyone here family with this site?

[Felicity_Tide]

This recent scam happened last weekend as a ponzi schemes called cbex scammed people home and abroad of their investment asset worth $822 million.

~snip

Well, I'm not surprised that people still fall for scams that assures quick returns. The shambled economy has prompt people to doing anything, so believing something like this was never a problem. And the surprising thing is, there are similar scams that have been introduced in the past, but humans will always be humans, some people just have to learn the hard way.

What is the Lesson Learnt.

1. Don't invest in ponzi schemes because of high returns within a short period.
2. Learn to know that crypto is not ponzi but ponzi can come in a form of crypto or any other currency.
3. Learn what ponzi scheme is and understand the meaning.
4. Don't invest on anything if you can't afford the loss.
5. Ponzi is not an investment, but a raw and pure form of scam coming in place.

No Ponzi Scheme uses the name "Ponzi Scheme".
I believe the majority of those that were involved don't even know how sophisticated the internet space is. From one of the news I found on YouTube, a victim said her own neighbor referred her to the program with a proof of payments/returns. Majority of those involved in these types of scams don't even know how to carry out a proper search. They just want to see a proof of payment, and they are automatically in the game since that's enough to convince them.

[JoyMarsha]

I think that CBEX is not the first Ponzi scheme, and neither will it be the last Ponzi scheme that will rug-pulled people's money in Nigeria. Why all these Ponzi schemes seem to wax strong in Nigeria is because people are impatient. They want quick success, quick ROI and quick growth. Anything that requires a long-term investment plan before seeing gains counts most Nigerian citizens out of it; they are not interested.

The advice that should be given is to let people know that anything that promises quick gains in investment should be avoided. Any genuine Investment should be long-term planning, not short-term, that will start given its investor's ROI.

[Su-asa]

There are people that already knows that this was a ponzi scheme project but they still go ahead to invest on it because of greed. Well I won't feel pity for those kind of people because they already know what it was, but they still invest in it cause they think that they might get profits early before any issues will burst on the project.
However, before anyone should start a third party investment, they should make their own research. Although it's not safe but people should try as much as possible to know the kind of things they want to invest in to because scammers can go more further to make sure victims believe and trust every process.

[moneystery]

even though there are many cases of ponzi schemes that end tragically, there are still many people who continue to put their money into projects like this. they are tempted by high returns and unlimited income by only putting a few dollars into it, even though it's all just a trick before the project owner later runs away with all the customer's money.

because of that now we have to be more careful and don't immediately put money into certain projects that promise a lot of money in a short time. just always understand that investment offers with high returns are just nonsense, there is no such thing as a 'free lunch', all of that is just a scam.

[hugeblack]

These schemes are often adept at marketing their projects, and many believe you need to buy Bitcoin to invest in Bitcoin, and that you can't invest as little as $10. Also, investing $100 in Bitcoin for 10 years won't make you rich.

[sokani]

The signs were already there that CBEX was a ponzi but it's either people did not care or they were absolutely ignorant. From what I understand, when investors make a deposit and leave it for 30 days, they get a 100% return of their investment. That's a classical ponzi scheme model. You can't get such returns by mere holding an asset in your personal wallet or on any reputable exchange.

[CryptSafe]

Since my MMM experience, I had to do away with the Ponzi scheme because the experience was not something I would want to encounter again. So anybody bringing such to my dm again is immediately removed and blocked. This is not the first Ponzi scheme that has gone south in the crypto space, although the figure involved is not something to overlook at the moment, because people put in their savings hoping to get financial freedom based on trust they got from people who referred them to the platform but, unfortunately, this happened.  Maybe they would learn their lesson the hard way and not get involved in anything that has to do with a Ponzi scheme anymore.

[DYING_S0UL]

Greed is bad. These people aren't just naive or innocent but also greedy. Ponzi isn't a new thing, so I assume most of us/them are aware of the fact that they're likely to be scams. Despite knowing the consequences, they participate in these anyway in hopes to getting rich overnight. Some of them are so overconfident that they think they can pull off their profits before the project pulls off their scams. But that doesn't happens most of the times...

Anyway, thank you for bringing this to everyone's attention. I hope new users can read this and pay more attention when joining in these schemes.

[Zlantann]

I feel sorry for the people who lost the monty they probably couldn't afford to lose

My brother told me about it but I avoided it and told him it might be a scam. It is obvious that it is a scam now. We have discussed this on local board before because this happened some days ago and not just now.

It is easy to know those scam businesses but some people just do not learn about how to avoid scam.

It's sad that people like learning the hard way. It's not been long since many people have lost money in multiple scam projects or Ponzi schemes in Nigeria. Poverty, greed and ignorance are still attracting people to these ponzi schemes.

It was a scam project considering that investors were promised close to 100% interest on investment. Regulatory bodies in Nigeria have always advised that any crypto exchange that is registered with relevant authorities is operating illegally. I heard that the Nigerian government is partnering with Interpol to apprehend these Ponzi scheme operators..

[albon]

Influencers on X, YouTube, and other platforms may promote Ponzi schemes to lure followers and motivate them to invest by promising high , guaranteed returns with no risk to their capital. In return , many people may fall for these well-crafted scams, driven by greed.

Therefore, if your favorite influencer ever promotes any means of bringing quick and unbelievable profits, you should be careful and completely ignore it. Do not throw your hard-earned money at platforms that are usually new and  have an interface with investment plans promising 200% or more returns.

I call this unrealistic as there are no profits like these that can be achieved in the crypto space, and there are no guaranteed, fixed, high profits without risks... Therefore, anyone who encounters such fake promises and temptations should stay away and not even try.

[Stepstowealth]

1. Don't invest in ponzi schemes because of high returns within a short period.

Do people really learn their lessons. Greed makes sure that people never satisfied with being patient for money. Some of these people who are victims of this new Ponzi have been victims before but they refused learning their lessons. Some of these people even find it easier to invest their money in these Ponzi's than in things like cryptocurrency, while there are those that will then carry the experience they had or heard another person had and make it their reason for not investing in bitcoins.

[SatoPrincess]

This Cbex scam has been making the rounds on the internet for the past few days. I already drafted a topic about it to post in my local board since most of the victims are from West Africa. Ponzi schemes will always succeed in developing countries where the majority of the people are living in poverty. What I find remarkable about this ponzi is that I didn’t hear about them until they made their exit. I feel sorry for all the victims, I doubt they will get their money back.