Despite June 25 payout promise, CBEX spins new Ponzi platform without refunding Nigerians
- CBEX froze withdrawals in April, claiming a system hack and later introduced a verification fee for users.
- Users who paid the verification fee did not receive their funds back, leading to frustration and accusations against CBEX.
- The repayment deadline was missed on June 25, with CBEX now stating it will conduct an audit until December 25, 2025.
The situation with CBEX highlights the vulnerabilities in the cryptocurrency market, particularly in regions with less regulatory oversight. It raises critical questions about the accountability of such platforms and the need for better consumer protection measures. The ongoing deception and the emergence of new schemes suggest a systemic issue that requires urgent attention from regulators and law enforcement.
