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This domain appears on the CryptoLegal reported scam companies list.
queryA ENODATA cbex.cx
Imported from CryptoLegal reported scam database
CBEX is a confirmed Ponzi scheme that collapsed in April 2025 after defrauding hundreds of thousands of investors, primarily in Nigeria and Kenya. The platform promised 100% returns within 30 days, disabled withdrawals overnight, and its operators began laundering stolen funds through cross-chain bridges while victims were still depositing money. There is no ambiguity here: CBEX was a fraud from inception, and anyone still encountering CBEX login pages or promotional material should avoid them entirely.

CBEX, which stood for "China Beijing Equity Exchange," presented itself as an AI-powered cryptocurrency trading platform that could generate guaranteed daily returns for investors. Despite its name suggesting ties to a legitimate Chinese financial institution, the platform had no connection whatsoever to the actual China Beijing Equity Exchange. CBEX operated primarily through a mobile app and website at cbex.cx, targeting investors in Nigeria, Kenya, and other African countries.
The platform claimed to have been operating since 2017, but evidence shows it only began actively recruiting Nigerian investors in late 2024. Users were encouraged to deposit cryptocurrency, primarily on the Tron blockchain, and recruit others in exchange for referral bonuses — a hallmark of Ponzi and pyramid scheme structures.
No regulatory registration. CBEX was not registered with any financial regulator in any jurisdiction. It held no license from the U.S. Securities and Exchange Commission (SEC), the UK Financial Conduct Authority (FCA), or Nigeria's SEC.
Guaranteed 100% monthly returns. The platform promised investors they would double their money in 30 days. No legitimate investment vehicle can guarantee such returns. This is the defining characteristic of a Ponzi scheme.
Recently registered domain. The cbex.cx domain was registered shortly before the platform began aggressively recruiting investors, contradicting claims of years of operation.
Cross-chain money laundering while active. Blockchain intelligence firm Elliptic documented that CBEX operators were converting user deposits from Tron to Ethereum using cross-chain bridges as early as October 2024 — months before the collapse. This means the operators were laundering funds while still accepting new deposits.
Overnight disappearance. On April 17, 2025, CBEX disabled all withdrawals and its official Telegram channel vanished without notice. The platform went completely offline, and operators became unreachable.
⚠CBEX Is a Confirmed Scam
CBEX has been formally identified as a Ponzi scheme by Nigeria's Securities and Exchange Commission, blockchain analytics firm Elliptic, and multiple international media outlets. Do not deposit funds into any website or app claiming to be CBEX or a successor platform.
The human cost of the CBEX collapse has been devastating. Al Jazeera reported that many Nigerian investors put in their life savings, with some borrowing money or selling property to invest. Social media was flooded with testimonies from victims who could not access their funds after April 2025.
A recurring pattern in victim reports is that small withdrawals were processed initially — a classic Ponzi tactic designed to build trust and encourage larger deposits. Once a critical mass of deposits was reached, the operators shut everything down. Users who attempted to withdraw larger amounts before the collapse reported being asked for additional "verification fees," another common scam indicator.
Nigeria's Economic and Financial Crimes Commission (EFCC) launched an investigation, and TechCabal reported that between 250,000 and 300,000 Nigerians were affected. The exact financial losses remain disputed, with estimates ranging from $6.1 million in confirmed on-chain deposits to approximately $800 million in self-reported losses.
CBEX operated as a classic Ponzi scheme with elements of a pyramid structure through its referral program. Here is the playbook:
This pattern is identical to dozens of other crypto Ponzi schemes documented on our crypto scam companies list. The use of AI and blockchain buzzwords was window dressing for a scheme as old as finance itself.
Fraudulent crypto platforms targeting African and developing-world investors continue to emerge. If an exchange or investment platform promises guaranteed daily or monthly returns, requires you to recruit others, or has no verifiable regulatory registration, treat it as a scam. Check our Bitcoin scammer list for known fraudulent domains.
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If you deposited funds into CBEX, take these steps:
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