CBEX restores wallet balances of subscribers

In a surprising twist, Crypto Bridge Exchange (CBEX) the controversial Ponzi scheme that vanished earlier this year with subscribers’ funds has restored account balances to users’ wallets.

However, this development has raised more questions than answers, especially as victims are now being asked to pay extra fees to access their trapped investments.

The sudden reappearance of CBEX comes amidst ongoing investigations by the Economic and Financial Crimes Commission (EFCC), which had previously pledged to track and recover the missing funds for Nigerian investors who fell prey to the scheme.

READ ALSO: CBEX scam: EFCC declares 2 Nigerians wanted

In order to purportedly retrieve their lost fund, a new deposit of $200 was requested as fresh deposit from individuals who initially invested over $1,000 and $100 from those who invested below $1,000.

A victim told our correspondent anonymously, “I have been able to view my balance but it makes no sense to be asked for a fresh deposit to retrieve my investment.

“I’ll wait to see what happens to know what to do next, but if it requires a fresh deposit, then count me out.”

However, the scheme allegedly demanded the extra payments before investors can access or withdraw the funds.

CBEX caught victims unawares in April when it collapsed without warning, locking users out of their accounts and sparking panic.

Furious victims embarked on violent protests, including the looting of the scheme’s office in Ibadan, Oyo State capital.

The company had previously promised to double deposits within 40 days.

Despite locking their Telegram group to suppress complaints, CBEX operators blamed hackers for the shutdown.

The EFCC said it arrested some suspects and traced funds to multiple countries while some suspects were also recently declared wanted by the anti-graft agency in connection with the cryptocurrency scam.

EFCC, however warned that it might not be able to recover all lost investments.