Thousands of Nigerians are reeling after CBEX, a digital assets platform, allegedly defrauded investors of over ₦1.3 trillion—about $800 million USD.

The platform had lured users with promises of 100% returns within a month, a tactic many now see as too good to be true.

Following the platform’s sudden disappearance, Nigeria’s Economic and Financial Crimes Commission (EFCC) has opened an investigation.

This incident highlights the growing concerns over unregulated digital investment schemes and the need for tighter oversight.