Chaos in Ibadan as angry investors loot CBEX office over locked funds

Tensions flared in Ibadan on Monday as a crowd of enraged Nigerians stormed the office of CBEX, a digital asset trading platform, following reports that the company had shut down operations without notice, locking users out of their funds.

The incident, which occurred in the Oke Ado area of the city, quickly spiraled into chaos as furious investors looted the company’s office, destroying property and carting away valuables in protest of their lost investments.

Viral videos circulating on social media captured the tense scenes—angry youths smashing windows, dragging out office equipment, and expressing frustration over the sudden disappearance of their money. Many claimed they had poured their savings into CBEX, only to find themselves unable to make withdrawals.

Eyewitnesses said the atmosphere was “chaotic and heartbreaking,” with some residents watching in disbelief as the crowd ransacked the premises. “It was like a ticking time bomb,” said one observer. “People have been coming here every day, demanding answers. Today, it exploded.”

As of the time of this report, CBEX has yet to release an official statement addressing the shutdown or the attack on their office.