Crypto Bridge Exchange (CBEX), the embattled digital trading platform at the center of a reported ₦1.2 trillion investment fraud, has reportedly resumed operations despite an ongoing probe by the Economic and Financial Crimes Commission (EFCC).
According to a report by Punch, two traders confirmed that CBEX has quietly reopened its platform, enabling new user registrations, trading activities, and profit withdrawals.
This move comes even as regulatory investigations continue into the firm’s activities, which allegedly defrauded over 600,000 Nigerians.
Sources also revealed that CBEX is undergoing an external audit and insurance verification to assess the scale of losses incurred when the platform collapsed in April 2025.
The audit, being handled by a UK-based insurance firm, is expected to conclude by June 25, after which existing investors will reportedly be able to withdraw their funds.
The platform’s return comes just weeks after the Securities and Exchange Commission (SEC) declared it illegal and the EFCC confirmed that an investigation into its operations was ongoing.
CBEX had promised investors a 100% return on investment within 30 days, claiming to use artificial intelligence-driven trading.
It began operations in 2024 after registering with the Corporate Affairs Commission (CAC) on September 25, 2024, and received approval from the EFCC’s Special Control Unit Against Money Laundering (SCUML) on January 16, 2025.
The platform abruptly collapsed on April 14, 2025, leaving hundreds of thousands of Nigerians unable to access their funds.
