The Economic and Financial Crimes Commission (EFCC) has revealed that it has traced funds connected to the failed CBEX cryptocurrency bridge exchange scheme to at least four different countries. EFCC Chairman Ola Olukoyede disclosed this on Wednesday during an appearance on Politics Today, a Channels Television programme. Olukoyede explained that while efforts are ongoing to…
Despite the alleged N1.2tn digital trading fraud that reportedly affected over 600,000 Nigerians, the embattled Crypto Bridge Exchange trading platform, accused of these acts, has resumed operations, announcing fresh withdrawal options in a move to restore investor confidence. Two traders on the CBEX platform confirmed to The PUNCH on Wednesday that the digital trading firm…
The Economic and Financial Crimes Commission has declared one foreign national, Elie Bitar wanted for his alleged involvement in a cryptocurrency fraud linked to the online trading platform, Crypto Bridge Exchange. According to an official bulletin issued by the Commission, Bitar, 41, is wanted for a suspected fraudulent scheme carried out via CBEX, which has…
One of the suspected promoters of the cryptocurrency trading platform, Crypto Bridge Exchange, Adefowora Abiodun, who was recently declared wanted by the Economic and Financial Crimes Commission, voluntarily surrendered himself to the anti-graft agency on Monday. Justice Emeka Nwite of the Federal High Court in Abuja, in a ruling on Thursday last week, approved the…
The Economic and Financial Crimes Commission (EFCC) has cautioned Nigerians against the excessive desire for money. The agency issued the advice in a terse post on its X handle on Sunday. “Love money too much, and Ponzi schemes will love you …..as their next target….be guided, the Eagle loves you all,” the post read. This…
The Economic and Financial Crime Commission, EFCC, has declared additional four suspected accomplices over fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exchange (CBEX). GISTSMATE MEDIA reported that EFCC earlier declared Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun wanted for their alleged roles in the scam, which has defrauded…
The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted in connection with a fraudulent online trading scheme allegedly perpetrated through a platform known as Crypto Bridge Exchange (CBEX). The suspects are Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun—are being sought for their alleged roles in the scam, which has…
The Federal High Court in Abuja on Thursday gave the Economic and Financial Crimes Commission (EFCC) the go-ahead to arrest and detain six promoters of Crypto Bridge Exchange for allegedly defrauding Nigerians of over billion dollars. Justice Emeka Nwite, who gave the order after the EFCC’s lawyer, Fadila Yusuf, moved an ex-parte motion to the…
The Economic and Financial Crimes Commission (EFCC) has said that the Special Control Unit against Money Laundering (SCUML) certificate does not necessarily imply clearance to lawfully operate in Nigeria, amid the collapse of the fraudulent cryptocurrency investment scheme known as “CBEX”. The EFCC, in a statement on Monday, admitted that ST Technologies( not CBEX) is…
Investigations by FIJ have revealed the faces of key individuals behind CryptoBridge Exchange (CBEX), a fraudulent investment scheme that scammed Nigerians out of an estimated N1.3 trillion. CBEX, initially marketed as a quick way to make money without economic value, crashed in April, leaving investors devastated. As reports emerged, many were unable to access their…