- A Nigerian woman cried as she lost her entire savings to Cbex digital trading platform after it crashed
- Many people on social media alleged that the Cbex trading platform had crashed and that traders’ funds were trapped
- The woman said she used her money she made in Libya and her friends’ money to invest in the platform
CHECK OUT: Education is Your Right! Don’t Let Social Norms Hold You Back. Learn Online with LEGIT. Enroll Now!
A Nigerian woman named Bolarinwa cried bitterly after losing her entire savings to the Cbex online trading app.
She shared how much she used to trade in the digital assets trading company, Cbex, which allegedly crashed.
Woman Storms Cbex Office in Tears, Shares How She Invested Money She Made While Struggling in LibyaSource: TikTok
In a video reposted by @bigappletv5 on TikTok, the woman who was interviewed stated that she invested $1000 (N1.6 million) in the platform.
According to her, $200 was her money while she collected the remaining from her friends.
Woman who returned from Libya loses savings
Bolarinwa recounted how she struggled in Libya to gather money and how her neighbour introduced her to the scheme.
She said:
“I went to Lybia to work. We were fighting,doing everything in Lybia. When I came back, my neighbour told me that if I do the scheme, it would help me, that I should go and find the money…She said if I invest the money, I will get times 2 of it.”
Watch the video below:
Cbex: A ponzi scheme or trading platform?
A man on Facebook who predicted the crash of the app claimed that Cbex, which posed as a digital assets platform, was a ponzi scheme.
Looking through the website of the Securities and Exchange Commission (SEC), there is a list of digital assets trading companies, but Cbex was not seen there.
Also, a search of the name ‘Cbex’ on the SEC dedicated portal for investment operators did not yield any results. It is not clear if Cbex is a registered investment platform.
The SEC told TheTalk.NG that it had warned Nigerians against trading on platforms not registered in its database.
Woman Storms Cbex Office in Tears, Shares How She Invested Money She Made While Struggling in LibyaSource: TikTok
Reactions as woman loses savings to Cbex
Prince Hamdan bin Mohammed said:
“To us wey broke to the extent we no sabi cbex May God remember us.”
@Wartemberg said:
“How can you invest in one company all your monetary assets?? its totally wrong and greediness..or they did people juju?? even in legiment deals you don’t invest your all.”
@Enohbaby said:
“I feel so sad for her.”
@<Joicy said:
“Una wan turn billionaire overnight. I’m not sorry for any one.”
@Richard marvince said:
“Imagine kuda,PalmPay,monie point and opay decides to what cbex did …. what will happen. E no go funny at all.”
@K.K.K junior said:
“Me way broke way no even sabi this cbex thank god o MMM NAH 3m them carry go.”
Lady loses school fees to Cbex
In a related story by TheTalk.NG, a Nigerian lady who used her school fees to trade in a digital assets trading company, Cbex, has cried out over her loss.
The lady shared how much she put into the app and was surprised to see that her money was gone.
Many who came across her viral video sympathised with her and shared similar experiences.
Source: TheTalk.NG
