- A Nigerian man who invested N64 million in Cbex may have lost the money after the platform crashed and trapped people’s funds
- The man said he had withdrawn the N64 million capital but ended up putting the money back, then the platform went into tatters
- His friend, who shared the story, said he warned him about Cbex and the fact that it might not be the best place to invest funds
CHECK OUT: Don’t let unemployment hold you back. Start your digital marketing journey today.
A Nigerian man has shared the story of his friend, who was one of the people who invested money in Cbex.
The man said his friend invested as high as $40,000 (N64 million) in the Cbex platform, an amount he may never see again.
The man withdrew his N64 million from Cbex but made the mistake of reinvesting it. Photo credit: Getty Images/Anna Chaplygina/Wirestock and X/Ayobami.Source: UGC
According to the story posted on X by Ayobami, the man had put in the initial capital of N64 million in the platform, hoping to cash out really big.
Ayobami said he warned the man whom he identified as his friend, telling him that the platform might not be legit.
The investor said he had withdrawn his capital of N64 million but later loaded it again.
Ponzi schemes such as MMM have also trapped investors’ funds in the past. Photo credit: Getty Images/Wirestock and Businessday.Source: UGC
Now that the platform has crashed, it could be that his investment is gone.
Ayobami wrote:
“Friend told me about something that sounds like a Ponzi scheme( turns out it’s CBEX). I told him to remove his capital. When I read about the crash, I was sure that he won’t be affected cos I told him, oh well…”
See the post below:
Reactions as man loses N64 million in Cbex
@DoubleEph said:
“I’m so sorry for laughing.”
@Bookunming said:
“When your village people really have hand in your matter…”
@sotolafactor said:
“Are all these amounts people said they have on the platform true? 40k$ on a platform with no known managers, no corporate governance of any kind. I declined an investment because the company has no Board. I don’t trust any company where the management has no oversight.”
@the_onbeatable said:
“If the conversation was “I made extra $40k” this post will get a different reaction.”
@lanreOapata said:
“I don’t understand the “I come load am again” part. So he returned a part of the profit or the entire profit? Ponzi isn’t entirely about poverty. There is greed too.”
@FroMaestro said:
“Excuse me!?! 40 *thousand* USD??? Massive L to put that into anything but the most stable, slow yielding, secure venture. Well for his sake hope he has more where that came from.”
@AyanniyiNoah said:
“Truly, people are hungry in this country. A country where people are suffering but yet they have this type of money to put into ponzi schemes yearly. Dem go well oooo.”
Man ignored after predicting the crash of Cbex
Earlier, TheTalk.NG reported that a Nigerian man had issued a warning in March, expressing concerns about the operations of Cbex, a digital assets trading company.
The man, Ub Edem Uman, had shared a post on Facebook, alleging that the Cbex trading platform might not last beyond May before crashing.
Earlier in April, many people on social media alleged that the Cbex trading platform had crashed and that traders’ funds were trapped.
Source: TheTalk.NG
