- A Nigerian man has raised an alarm over something he noticed after visiting a building allegedly used by the CBEX team before the Ponzi scheme collapsed
- He made a video showing people the unexpected state of the building, and the clip has surfaced on social media
- While some netizens suggested people go for the building, others claimed it must have been rented
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An emerging video showing the condition of a building allegedly used by the CBEX team before its platform crashed has stirred mixed reactions online.
CBEX, a Ponzi scheme, recently collapsed with over N1.3 trillion of its investors’ funds unreturned or accounted for.
A man says CBEX removed all the signboards on its building.
Photo Credit: @draababaSource: TikTok
It is believed that over 200,000 people put their resources into the get-rich-quick scheme, which had offered a 100% return on investment in 30 days.
CBEX crash has sparked a debate on social media about how easily some Nigerians still fall for Ponzi schemes and the need for stiffer measures from regulatory agencies to curtail any future emergence of a similar venture.
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Man’s discovery at alleged CBEX building
A man who visited an alleged CBEX building after its crash made a video of what he saw, noting that the Ponzi scheme’s signboards have all been removed.
The man, who spoke in Yoruba, panned his camera to show around the building.
A man says CBEX has removed the signboards on its alleged building.
Photo Credit: @draababaSource: TikTok
A TikTok user, @draababa, shared the video on the social media platform with the caption:
“Cbex can’t do this.”
At the time of this report, his video has garnered over 51k views.
Watch his video below:
Reactions trailed alleged CBEX office video
Yetty Baddy said:
“These people did all this overnight.”
Banji said:
“Na rent Dem go rent am na.”
Adaba said:
“Make all those Wai get money for the bank occupy the building.”
ĦëÑŇẽŞŞý🪐 said:
“Abeg make we sale the building.”
Coach musaa said:
“If p’ple are told to invest in learning the skills so as to handle their trades by themselve, they think it’s too much to ask 🥰.Truly, there’s money in trading, but you require some mentorship.”
ELON Reeve MUSK said:
“What is CBEX ? Nah only me never hear dis update 😂. b lyk nah only Yoruba people get dis update o.”
Atinukegold0.1 said:
“Wahahi, this thing make remember say WAP TV, super story don act this kind film before years ago.”
In a related story, TheTalk.NG reported that the alleged names and faces behind the CBEX Ponzi scheme had been unveiled.
How CBEX mistakenly exposed itself
Meanwhile, TheTalk.NG previously reported that an observant man had pointed out how the CBEX Ponzi scheme mistakenly exposed itself before the crash happened.
The man made a video about his observation. When quizzed about how platforms like CBEX exploit decentralised finance (DeFi) tools to gain users’ trust, a web3 expert, Emperor YRN, told TheTalk.NG that such Ponzi schemes mimic real projects to appear authentic. He said:
“They often borrow DeFi jargon and mimic real projects to appear legitimate — using smart contracts, token launches, and dashboards that simulate transparency. But in reality, there’s no decentralisation. Everything is controlled behind the scenes by the founders.”
Source: TheTalk.NG
