CBEX resumes operation

[Charles-Tim]

What is going on? For people to lose more? Why are they not taken down?

People that their money were stolen by CBEX has not gotten any refund but CBEX said they will get refund starting on June 25.

You can readorea hour it here: https://punchng.com/cbex-resumes-operations-despite-sec-ban-n1-2tn-efcc-probe/

If I remember, this is similar to what happened with MMM. Tell people to avoid this scam CBEX. If you do not want to lose your bitcoin or money converted to bitcoin, avoid CBEX.


I think a new thread is need for this serious and urgent discussion.

[Marykeller]

When I read about the news in Punch newspaper, I asked what would be the intention of this return. Is it to robe Paul to pay off Barnabas because this is what will be played out?

I will pity those Nigerians who will later invest in CBEX because of its return. They will learn the hard way for those who refuse to learn that a Ponzi scheme is nothing but a scam to steal from you.

Let's see how this will play out whether Nigerians go kukuma trust CBEX again, or let them be because for CBEX to survive they need investors

[Sticky Bomb]

I would tell you the pattern they would use to return,

 - Invest more and get a percentage of your new investment(maybe 30%) paid to you from your previous investment and now increase the timeline to 2 months before you can initiate withdrawal. This would see someone who previously invested $1000 to stupidly go and invest $2000 in a bid to get extra $600 in profits and before they know it, it is gone again.

we have seen this pattern in lots of scam ponzi schemes which ended up folding back with even more funds. We had Barazer, Charly Irais, Get Help worldwide, Ultimate cycler and Twinkas  who made investors think they are back for good, only to make away with more funds.

One funny but concerning fact is that people would still fall mugu for their antics, people never learn since greed always dominates rational thinking in them.

[BitcoinTimi]

This is to prove to you guys that Nigeria is dying gradually, how can CBEX scam billions of Naira from Nigerian and our government still allow CBEX to return operations haba after all the mouth efcc made last time that Nigerians should give them time that all their money will recover, so my question now is, is this how efcc are planning to recover the stolen money, by allowing CBEX to replace operation so that more people will get scammed? Well I pity does who will not learn from incident.

[Stable090]

What is going on? For people to lose more? Why are they not taken down?

People that their money were stolen by CBEX has not gotten any refund but CBEX said they will get refund starting on June 25.

You can readorea hour it here: https://punchng.com/cbex-resumes-operations-despite-sec-ban-n1-2tn-efcc-probe/

If I remember, this is similar to what happened with MMM. Tell people to avoid this scam CBEX. If you do not want to lose your bitcoin or money converted to bitcoin, avoid CBEX.


I think a new thread is need for this serious and urgent discussion.

Money wey CBEX don steal never do them, they are back to steal more money. CBEX don come back, but d one wey Dey pain me pass be say people go still Mumu themselves go put more money, I no really sabi d kin crazy risk wey some people Dey take. People wey put money inside before never see money withdraw, and Dey don open again, and people go still put money.

Seriously people no Dey learn from the past for dis country, different Ponzi scheme don come before, and dem move people money, now CBEX come and people still fall for am. From the format wey CBEX use enter e Dey obvious say na scam now, any investment wey Dey promise 100 percent return of Wetin you put, and zero risk, you suppose know say na scam, anything wey you wan put money get risk.

EFCC don place some people on wanted, but no Dey suprise say na so dem go Dey on wanted till everything go just come die down. People wey Dey do dis scam, no Dey surprise say some EECC officials Dey always get hand for all dis Ponzi scheme, because no matter how dem investigate reach, you no go hear say dem arrest anyone.

[igebotz]

What is going on? For people to lose more? Why are they not taken down?

People that their money were stolen by CBEX has not gotten any refund but CBEX said they will get refund starting on June 25.

You can readorea hour it here: https://punchng.com/cbex-resumes-operations-despite-sec-ban-n1-2tn-efcc-probe/

If I remember, this is similar to what happened with MMM. Tell people to avoid this scam CBEX. If you do not want to lose your bitcoin or money converted to bitcoin, avoid CBEX.


I think a new thread is need for this serious and urgent discussion.

Isn't the CBEX owner on the FBI's wanted list for defrauding investors out of $1.2 billion?  Who is opening the new CBEX, and why hasn't our government blocked access to the site for Nigerians yet?  The EFCC, CBN, and federal government were fast to deny Nigerian access to centralized exchanges that had not defrauded anyone, but they were unable to block access to a well-known Ponzi scheme that had stolen billions of Naira from its citizens.

If the Nigerian asset regulating agencies did not gain from these ponzi schemes, they would have been blocked access by now. They're part of the game.

[promise444c5]

Sick and tired of people calling themselves our leaders.

If you check this very news, they added "existing investors, many of whom have been unable to access their funds for weeks, will be able to withdraw their funds starting from June 25, 2025, when the audit is expected to be concluded by an insurance firm based in the United Kingdom.". This means they are planning another heist. May alone is enough time for them to steal new funds, let alone expecting previous investors to wait until June 25th. So now they will continue with new transactions (a fresh scam), making it look legitimate again, just like how MMM did some years back , while they plan final exit...
Still waiting to see what action will be taken.

[Mr Reporter]

What is going on? For people to lose more? Why are they not taken down?

People that their money were stolen by CBEX has not gotten any refund but CBEX said they will get refund starting on June 25.

You can readorea hour it here: https://punchng.com/cbex-resumes-operations-despite-sec-ban-n1-2tn-efcc-probe/

If I remember, this is similar to what happened with MMM. Tell people to avoid this scam CBEX. If you do not want to lose your bitcoin or money converted to bitcoin, avoid CBEX.


I think a new thread is need for this serious and urgent discussion.

Isn't the CBEX owner on the FBI's wanted list for defrauding investors out of $1.2 billion?  Who is opening the new CBEX, and why hasn't our government blocked access to the site for Nigerians yet?  The EFCC, CBN, and federal government were fast to deny Nigerian access to centralized exchanges that had not defrauded anyone, but they were unable to block access to a well-known Ponzi scheme that had stolen billions of Naira from its citizens.

If the Nigerian asset regulating agencies did not gain from these ponzi schemes, they would have been blocked access by now. They're part of the game.

baba! Me self been get this mindset to but thank God say you, urself talk am self because imagine that time it looks them less than a day to block access to centralized exchange but here we go the so called CBEX sites couldn't been accessible, why do I have this feel that the Nigeria government are part of the this scam if not why do we have the EFCC, but no the EFCC would rather prefer and want to flex their strength on the Yahoo boys and here are the free scammer who scam people thier life saving are out there living like not ever happened. My own opinion be say let all be wise when it comes to investing money in any thing make sure u take ur proper research that wan dey really weak people but in order to prevent from all this kind story for the gods matter

[Charles-Tim]

Isn't the CBEX owner on the FBI's wanted list for defrauding investors out of $1.2 billion?  Who is opening the new CBEX, and why hasn't our government blocked access to the site for Nigerians yet?  

I do not know if they are on FBI list but what I am surprised about is how they start operating again and how EFCC has not told NCC to tell those service providers to block the scam site. This is completely absurd.

If the Nigerian asset regulating agencies did not gain from these ponzi schemes, they would have been blocked access by now. They're part of the game.

This is very possible. During those crypto exchanges issues, I saw how corrupt our leaders can be.

[Joy- maker]

Isn't the CBEX owner on the FBI's wanted list for defrauding investors out of $1.2 billion?  Who is opening the new CBEX, and why hasn't our government blocked access to the site for Nigerians yet?  

I do not know if they are on FBI list but what I am surprised about is how they start operating again and how EFCC has not told NCC to tell those service providers to block the scam site. This is completely absurd.

If the Nigerian asset regulating agencies did not gain from these ponzi schemes, they would have been blocked access by now. They're part of the game.

This is very possible. During those crypto exchanges issues, I saw how corrupt our leaders can be.

so why is efcc silent about this matter, Abi them never see the news online? Efcc is  supposed to take action on This matter, Nigerians where scam by CBEX and they resume operations and nobody is doing anything about allowing CBEX to resume operations in other to scam more people right?

[Princess Leah]

What is going on? For people to lose more? Why are they not taken down?

People that their money were stolen by CBEX has not gotten any refund but CBEX said they will get refund starting on June 25.

You can readorea hour it here: https://punchng.com/cbex-resumes-operations-despite-sec-ban-n1-2tn-efcc-probe/

If I remember, this is similar to what happened with MMM. Tell people to avoid this scam CBEX. If you do not want to lose your bitcoin or money converted to bitcoin, avoid CBEX.


I think a new thread is need for this serious and urgent discussion.

Very good, I don't know if why they're back is to scam more greedy people or prove they're legit and try to clear their name, if they're here to prove they're innocence I believe they'll lose lots of customers after that proposed date of refunds cause they've lots trust of about 80% if not 100% of their customers already and I wonder who would continue investing with CBEX after they've given them the opportunity to retrieve their money, not after that stunt they pull last month.

 Well, I know my country people many of them behave foolishly, CBEX might come up with some bonus or giveaway and you'll see a large number of people rushing to invest again, anyways can't wait to see what happens after 25th of June.

[Obim34]

Isn't the CBEX owner on the FBI's wanted list for defrauding investors out of $1.2 billion?  Who is opening the new CBEX, and why hasn't our government blocked access to the site for Nigerians yet?  

I do not know if they are on FBI list but what I am surprised about is how they start operating again and how EFCC has not told NCC to tell those service providers to block the scam site. This is completely absurd.

My question about this started from the beginning when they started operating, they were never uncovered when they had a physical office and ended defrauding people. Where did they get the license to operate without observation from the government? Series of cases has proven that the government is always aware of anything happening, i can agree with Igebotz that they allegedly might be part of the scam or bribed after the funds were stolen. EFCC started their pretense of recovering people's money, i already knew it was all scripted for just public display on the case and forth they go silent.

If the Nigerian asset regulating agencies did not gain from these ponzi schemes, they would have been blocked access by now. They're part of the game.

This is very possible. During those crypto exchanges issues, I saw how corrupt our leaders can be.

We as citizens are just prey in their games, if you are not among them, we just have to believe random facts, sometimes what we think is far worse than what they committed.

[Salahmu]

This could be another scam they want to conduct on people again because as a platform that people just recently lost a lot of money should be thinking about how they can settle the first dept before even thinking about running another operation but this people has neglected all this things, so actually for those who doubt Ponzi scheme should no that this is not save to invest again hopping that they will get there money including the one they promised to pay them on the june, so actually MMM conducted similar way but never pay anybody instead they scammed again.

[Cossyblack]

This is to prove to you guys that Nigeria is dying gradually, how can CBEX scam billions of Naira from Nigerian and our government still allow CBEX to return operations haba after all the mouth efcc made last time that Nigerians should give them time that all their money will recover, so my question now is, is this how efcc are planning to recover the stolen money, by allowing CBEX to replace operation so that more people will get scammed? Well I pity does who will not learn from incident.

Haven't you heard  that the EFCC are toothless bull dogs. I am certain , this isn't the first ponzi schemes that have defrauded Nigerian of their hard earned money and besides,out of the numerous ponzi scheme that have succeeded in looting from Nigeria,how many have the EFCC apprehended . The EFCC hasn't been effective and cannot be reliable in cases like this, although it is their primary responsibility to stop financial crimes but they have failed woefully in that regard. I believe this is when the NCC should step in by sending large random SMS to Nigerians, literally warning them to shunned any promises from CBEX because they're not trustworthy and would eventually wreck more havoc if given any opportunity.

[BIT-BENDER]

Why are we acting surprised, if I am not mistaken the first time MMM broke the heart of thousands of Nigerians it just took them a while before they came back to do the same thing again so yes I am not surprised that CBEX has the gutt to come back again after the whole commotion they have caused already.
Let us be honest the problem is not CBEX it is the gullible Nigerians that will still consider them an option after what they have experienced already in the hands of this ponzi scheme merchants.
Last I heard about the news is that a person related to CBEX has been convicted and sentenced to jail time but all this will not deter Nigerians and they will come up with their faith that if (CBEX can come back again then they should be for real this time) this is the line that will still make many fall victim.

[Slimzeee]

I would tell you the pattern they would use to return,

 - Invest more and get a percentage of your new investment(maybe 30%) paid to you from your previous investment and now increase the timeline to 2 months before you can initiate withdrawal. This would see someone who previously invested $1000 to stupidly go and invest $2000 in a bid to get extra $600 in profits and before they know it, it is gone again.

we have seen this pattern in lots of scam ponzi schemes which ended up folding back with even more funds. We had Barazer, Charly Irais, Get Help worldwide, Ultimate cycler and Twinkas  who made investors think they are back for good, only to make away with more funds.

One funny but concerning fact is that people would still fall mugu for their antics, people never learn since greed always dominates rational thinking in them.

This seems like the latest strategy they will use to deceive Nigerians again.
For those who have already lost money, they will be asked to invest even more, and given a repayment plan spread over a longer period. The idea is that those who reinvest will be prioritized for repayment over those who do not.
And for those who have already lost money, there won’t be much of a choice, you’ll feel compelled to reinvest if you want to recover your funds sooner.
The truth is, people will still be tempted to invest again just to get their money back.

[Pokapoka124]

Anyone who falls for this scam for the second time has himself to blame. Ponzi schemes that have scammed investors this much always follow the same script. Their second heist is always like this:
1. All investors are required to invest a certain amount of money to unlock 10-20% of their funds.
2. The refund will be made available to only those who have reinvested.
3. The refund process will take about 3-4 months.
4. Investors are encouraged to bring new investors so the “system” doesn’t crash.

[Juicyhome]

Anyone who falls for this scam for the second time has himself to blame. Ponzi schemes that have scammed investors this much always follow the same script. Their second heist is always like this:
1. All investors are required to invest a certain amount of money to unlock 10-20% of their funds.
2. The refund will be made available to only those who have reinvested.
3. The refund process will take about 3-4 months.
4. Investors are encouraged to bring new investors so the “system” doesn’t crash.

You're wasting your time Nigerians we will invest in it, this country is full with poor people and they can do anything just to make money that's why gambling is a day to day activity in Nigeria.

If you're not playing gambling you're doing ponzi because the government has failed to provide us jobs. It's only take the wise to o escape gambling and ponzi scheme. Make God help them.

[Ndabagi01]

~

Isn't the CBEX owner on the FBI's wanted list for defrauding investors out of $1.2 billion?  Who is opening the new CBEX, and why hasn't our government blocked access to the site for Nigerians yet?  The EFCC, CBN, and federal government were fast to deny Nigerian access to centralized exchanges that had not defrauded anyone, but they were unable to block access to a well-known Ponzi scheme that had stolen billions of Naira from its citizens.

If the Nigerian asset regulating agencies did not gain from these ponzi schemes, they would have been blocked access by now. They're part of the game.

That seems suspicious after the point you’ve raised. I don’t think that the Nigerian government is serious about the whole investigative thing into this CBEX fraud, if not, we shouldn’t see them opened already so soon when investigation is still on as they claimed. People are crying to get a refund but this is what we see again, how so cheap of the government to boast of anything as a country.

This ponzi scheme don’t look like they’ve had enough, they’re back to steal more and looking for preys to fall in their traps. I think the government should do more rather than just allowing them to open back their services and luring people that they’re going to pay back those they scammed initially. It’s a smart move and the people have to be careful on this one too.

[Sim_card]

What is going on? For people to lose more? Why are they not taken down?

People that their money were stolen by CBEX has not gotten any refund but CBEX said they will get refund starting on June 25.

You can readorea hour it here: https://punchng.com/cbex-resumes-operations-despite-sec-ban-n1-2tn-efcc-probe/

If I remember, this is similar to what happened with MMM. Tell people to avoid this scam CBEX. If you do not want to lose your bitcoin or money converted to bitcoin, avoid CBEX.


I think a new thread is need for this serious and urgent discussion.

If the Nigerian asset regulating agencies did not gain from these ponzi schemes, they would have been blocked access by now. They're part of the game.

You are right. Nigeria government is so corrupt that they encourage these fraudsters to scam people as long as they will get their own cut from it, they're in a deal. However, when you as an investor is out for real to help elevate poverty, if they come to you for their own cut and you refuse because you have a good motive and run a clean business, the government will call you a scammer and shut you out of business. When will all these end in Nigeria.