Following the collapse of the CBEX exchange and the disappearance of thousands of users’ funds, angry Nigerian investors looted the office of this digital currency trading platform. Reports from the BBC indicate that after withdrawals were suspended on April 9 due to ‘security breaches,’ investors were unable to access their funds. Social media videos show traders crying as they witness their entire capital disappearing. Subsequently, a group of enraged traders attacked the CBEX office and started looting its assets. CBEX, which touted itself as an AI-based trading platform, gained popularity at the end of 2024 with a promise of 100% monthly returns, but in April 2025, with withdrawals suspended, it caused panic among investors leading to the platform’s collapse.
