By Oladipo Emmanuel
Introduction:
The Rise of CBEX
In the vast and shadowy world of cryptocurrency, CBEX emerged like a beacon to those looking for a shortcut to riches. With sleek marketing, a user-friendly platform, and promises of daily returns and fast payouts, CBEX quickly became the darling of thousands—especially in Nigeria and across parts of Africa where economic uncertainty fuels the hunger for investment miracles.
CBEX did not position itself as just another crypto platform; it styled itself as a "trading opportunity for all"—where users could deposit crypto, join gambling-style pools or "tasks," and get profits ranging from 2% to 10% daily. What began as a community of hopeful investors and gamblers turned into an empire of illusion.
The Playbook of Deception: How CBEX Won Hearts and Wallets
CBEX’s strategy was simple but cunning:
Small Wins First: New users were allowed to withdraw small profits initially. This built trust and encouraged referrals.
Referral Traps: Users were incentivized to bring friends and family, earning commissions from their deposits.
Tasks and VIP Levels: The platform gamified investment, offering higher tiers, daily "missions," and bigger returns for those who deposited more.
Aggressive Community Engagement: CBEX created WhatsApp and Telegram groups, complete with motivational speakers and daily testimonials—most of which were fake or paid.
These tactics created a false sense of security, turning victims into evangelists. By late 2024, CBEX was boasting tens of thousands of users and was reportedly holding hundreds of millions in digital assets.
The Beginning of the End: The Withdrawal Freeze
As with most Ponzi schemes, the end began when withdrawals started to delay.
- First, they blamed system upgrades.
- Then, they introduced “Account Verification” and “Compensation Claims”—forcing users to pay extra amounts (100–200 USDT) before unlocking their funds.
- After that came the “Final Phase”—a promise of 3X returns if you leave your funds in the system longer.
But the math had collapsed.
CBEX had no real investments, no trading bots, and no future plan—only the cash flow of new users paying old ones. By early 2025, they were swallowing deposits with zero intention to pay out.
The Gambler’s Pain: A Nation Duped
Thousands of Nigerians fell victim—some losing their entire savings, others investing borrowed funds, and a few even selling assets in hopes of “catching this one big wave.”
The aftermath has been ugly:
- Families torn apart over lost money.
- Students dropping out after gambling tuition.
- Depression and suicidal thoughts among some victims.
- A new nickname trending on social media: “#CBEX – Crypto But Exploit Xpert.”
One user lamented: “I paid 200 USDT for the ‘Compensation Activation’ after losing my initial 1,000 USDT. They still didn’t release anything. They called me 'mumu' in disguise.”
The Poking Scheme: CBEX’s Last Bite
Even as CBEX was clearly collapsing, the operators introduced a “poking fee” system:
- If you couldn’t withdraw, they claimed you needed to “poke” your account with an activation fee.
- When you paid, nothing happened.
- Then they said the system was reviewing your account.
- Eventually, communication stopped altogether.
This final scam was designed to milk every last cent from the desperate victims.
The Psychology Behind the Fall
CBEX capitalized on three key things:
- Hope: Nigerians, desperate for financial relief, sought any way out of poverty.
- Trust in Peer Referrals: Most victims joined because a friend or family member recommended it.
- Addiction to Fast Money: The gamification of investment made it feel like gambling with a high chance of winning.
Trillions Lost Globally
Estimates suggest CBEX scammed millions of dollars (possibly billions of naira) in crypto from users across Africa and Asia. No one knows exactly how much—but in the gambling and high-risk trading space, trust is the currency, and CBEX burned it to ashes.
The Way Forward
Report & Raise Awareness: Victims must report to EFCC, Interpol, and scam-tracking sites like Chainabuse.
Learn & Heal: The road to healing starts with acceptance. No refund is coming. No secret backdoor will release your funds.
Never Invest in Hype Alone: If it sounds too good to be true, it is.
Avoid Paying More After Losing: These “recovery” demands are final traps. Don't fall again.
Final Words: From Pain to Wisdom
CBEX is not the first, and it won't be the last. But it should be a loud warning bell in the ears of every would-be investor:
“Crypto can build or break you. But only wisdom will keep you standing.”
Let CBEX be remembered not as a miracle that failed, but as a mirage that robbed the thirsty.
إرسال تعليق