The fallout from the collapse of CBEX, a now-controversial digital asset trading platform, took a dramatic turn as angry investors stormed and looted the CBEX office in the Oke Ado area of Ibadan, Oyo State.
The unrest was sparked by widespread reports of missing funds and frozen accounts following the platform’s sudden crash. Many users who had invested substantial amounts in the platform were left with zero account balances, triggering frustration and outrage.
Office Equipment, Furniture Looted
Videos circulating online show a mob of enraged individuals forcibly entering the CBEX premises, carting away office equipment, furniture, and electronics. The looting was reportedly carried out by investors who felt betrayed by the platform’s operators.
Eyewitness accounts and viral clips on social media painted a chaotic scene, with many lamenting the loss of hard-earned money and calling for justice.
No Arrests Yet as Authorities Stay Silent
As of the time of this report, no official statement had been released by law enforcement agencies, and it remains unclear if any arrests have been made.
The tension remains high in the area, with victims demanding clear answers and compensation for their lost investments.
CBEX Under Scrutiny for Alleged Fraud
Initially presented as a secure and innovative digital trading platform, CBEX has now come under heavy scrutiny, with numerous users describing it as a crypto Ponzi scheme. The platform allegedly faked trading activities and displayed falsified profit records, deceiving users into believing their investments were growing.
As more evidence of fraud emerges — including TRX wallet fund movements and deceptive verification charges — calls are growing louder for government and financial authorities to intervene.
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Final Note:
The looting of the CBEX Ibadan office is a clear sign of just how devastating digital investment scams can be. As Nigerians continue to navigate the world of cryptocurrency and online trading, it’s more important than ever to verify platforms through SEC Nigeria and avoid schemes promising unrealistic returns.
Stay with Naija Blog Daily for continued coverage on CBEX fraud, investor reactions, and how to protect yourself from online investment scams.
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