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What is Cbex Trading | Is Cbex Trading Legit or Scam
If you’ve been hearing a lot about Cbex Nigeria and wondering what is Cbex trading platform is, you’re not alone. In recent months, Cbex has become a hot topic among people looking to make money online, especially through cryptocurrency trading.
It promotes itself to offer professional trading services for digital assets with high returns to users and an easy way to grow their capital. It has a clean-looking interface and even boasts of offering services to millions of users from all over the world.
But the more that register, the more concerns have started popping up: Is Cbex Trading scam or is Cbex Trading legit? There are many users posting on social media regarding withdrawal problems and spontaneous rule changes to the website. Some report they were shown fake withdrawal reports, while others report the site crashed or froze their money unexpectedly.
In Nigeria, as well, they have become even more vocal. Cbex Nigeria has been warned by that nation’s Securities and Exchange Commission, which has labelled it a Ponzi scheme and threatened that operating the kind of platform without registration is illegal.
The platform’s guarantees—doubling your money in 30 days, for example—are too good to be true, and usually that is a warning sign in the business of internet investments.
As we dig deeper, we will look at how Cbex works, why everyone is worried, and what you should know before risking your money. Whether you are asking questions about the website or just need to protect yourself, knowing if Cbex Trading is real or not is a matter of urgency.
What is Cbex Trading Platform?
Cbex Trading Platform (CBEX) is an internet-based asset trading platform that gained traction in Nigeria by promising exorbitantly high returns—like doubling money in 30 days. It wooed clients with cryptocurrency trading, referral fees, and share-in-profits schemes, presenting itself as a gateway to instant wealth.
However, CBEX was unregistered with Nigeria’s Securities and Exchange Commission (SEC), contrary to local laws. It was discovered to run a Ponzi scheme, which involved hindering withdrawals while sustaining impressions of records of transactions. Deposits were received from anonymous crypto wallets, and customers could not withdraw their money.
In Nigeria alone, the collapse of CBEX caused a loss of more than N1.3 trillion ($840 million) in funds, and the regulatory authority gave a warning about protests. SEC later deemed it illegal and requested people to keep off from the unregistered platform.
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How Does Cbex Trading Work?
CBEX trading is a way people make money online dealing with cryptocurrencies, but simplified even for beginners. This is how it functions in plain terms:
How CBEX Trading Works
Getting Started
- First, you open a CBEX account and do a simple verification. You have to fund an account with some money, most commonly in USDT (one of the well-known cryptocurrencies that’s pegged to the US dollar).
How Trades Happen
- The problem with CBEX is that you don’t need to make any decision about when to buy or sell yourself. Instead, the site gives you “signals” which are orders for what to trade when.
- These signals are transmitted, usually twice a day. When you get a signal, you just do what it tells you: head to the trading section, press a few buttons to enter the trade, and you’re done. The platform’s AI does almost all of the heavy lifting for you.
- For other depositors who invested more money, there are special “bonus signals” that could give you extra opportunities to earn.
Earning and Withdrawing
- The site claims that, within approximately 30 days, you can double your initial investment if you are consistent and follow the signals.
- You can withdraw your money—both your profits and your initial investment—whenever you want, so you’re not obligated
CBEX trading is for those who want to earn money from crypto trading without having to learn all the technicalities. You invest money, listen to the cues the platform provides you with, and the AI does the rest.
With determination and by being regular with the rules, the platform claims that you can slowly build your money and withdraw it as and when you want
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Who is the Founder of Cbex Trading Platform?
There is no information reported on its founders, the location of its headquarters, and official registration. Genuine sites are found to provide an open background, whereas those providing less or no details generally show doubtfulness.
Is Cbex Trading Legit?
This is something everyone desires to know. Although Cbex presents itself as a reputable trading site, things are of serious concern.
The site is not regulated by any financial regulator, so there’s no official oversight. And there’s little to no information on who runs the company and where they’re based. These are massive red flags for any online investment site
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Is Cbex Trading a Scam
Most critics and experts are convinced beyond doubt that Cbex Trading is a scam.
They point out that the site uses methods similar to Ponzi schemes, in which new users’ money is used to compensate the older users.
“No loss” and “guaranteed profit” assurances are impossible and always precede a scam. Financial regulators have also issued warning advisories, and the site keeps changing its domain name on its website, another sign of something fishy.
Here’s the breakdown of the reasons why it’s unsafe:
- Unrealistic Promises: CBEX lured customers with guaranteed 100% monthly returns, an unmistakable indication of a Ponzi scheme.
- No Regulator Approval: The website was never licensed by Nigeria’s SEC or any regulator, and thus, its operations were prohibited.
- False Representation: CBEX falsified an affiliation to a legitimate Canadian company and copied the name of China’s government-owned Beijing Equity Exchange to make itself appear authentic.
- Missing Funds: Over $847 million (₦1.3 trillion) of user funds vanished, and money was diverted to personal crypto wallets and converted into untraceable currencies like ETH.
- Investor Outrage: CBEX’s Ibadan office was stormed by angry users, and victims report being locked out of accounts or being asked to pay additional “verification fees” for non-existent money.
Authorities Verifying It’s a Scam:
- EFCC, FBI, and Interpol are jointly investigating CBEX as a Ponzi scheme.
- Nigeria’s SEC explicitly warned that unregistered platforms like CBEX are illegal.
- Tactics Exposed: CBEX used fake AI trading signals and recycled deposits to pay earlier users, a textbook Ponzi structure.
If you’ve invested, stop further payments, document everything, and report to authorities immediately. Always verify platforms through official regulators before investing.
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Is CBEX Regulated in Nigeria?
The most significant aspect of CBEX’s business is its regulatory status. In compliance with Nigeria’s Securities and Exchange Commission (SEC), CBEX is not a registered digital asset exchange under Nigerian law. Under the new Investments and Securities Act 2024, all virtual asset service providers must be registered and licensed by the SEC to do business legally.
Against this backdrop, the SEC recently warned the public against transacting with unregistered online trading platforms, including CBEX. The commission said that providing or soliciting such platforms could trigger legal actions under the Act.
Since April of 2025, CBEX has faced increased scrutiny following the reporting of several cases where users were not withdrawing from the site.
The reason stated by a section of the users for delays cited is internal updates, although the platform has others blaming them on liquidity or regulation issues.
In Oyo State, tensions came to a head when angry users attacked and burned down a CBEX office in Ibadan, claiming frustrations over inaccessible funds. This action prompted further public attention and media scrutiny.
What Are the Risks of Using Cbex Trading?
The biggest risk is losing your money. Since there is no regulation for Cbex, if anything goes wrong, there’s no way to get your funds back. The platform can shut down at any time, and users have reported issues with withdrawals.
Also, the trading signals are exclusive to Cbex, and you cannot use them elsewhere, which limits your control
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What To Do If You’re a Victim of Cbex Scam
Now that you know Cbex trading platform, if you have been scammed by a crypto gaming platform, do the following:
- Stop Further Transactions: Immediately halt all transactions on the platform. Don’t deposit more funds or try to withdraw.
- Document Everything: Take screenshots of your account, transactions, and messages from the platform. This will be useful when reporting the scam.
- Report to Authorities: File a complaint with your local police department and report the scam to regulatory authorities or the financial regulator of your country.
- Inform Crypto Exchanges: In case you deposit the money into a known exchange, let them know right away to mark the transactions and maybe block the scammer’s account.
- Use Malware Protection: Run a complete malware scan on your devices to ensure scammers have not taken control of your system. Use good anti-malware software to protect your information.
Frequently Asked Questions
Why is Cbex Trading potentially a scam?
Cbex Trading’s unverified claims, unregulated status, and warning from regulatory authorities suggest it may be a scam.
What kind of trading services does Cbex Trading offer?
Cbex Trading guarantees 100% precise trading signals, and this is very suspicious.
Am I safe in leaving my funds with Cbex Trading?
With the red flags, we recommend caution, and one should seek alternative, legitimate platforms elsewhere.
Did Cbex Trading get warning by regulators?
Yes, the Securities and Futures Commission has listed Cbex Trading as one of the suspicious virtual asset trading platforms.
Conclusion
Cbex Trading is not credible since there is no regulation and gives out unrealistic promises. It’s most likely a scam, and users, especially in Cbex Nigeria, need to be cautious. Do everything to keep your finances safe and seek out other, reliable platforms for investing your money.
Educate yourself, be safe, and make wise decisions about your money. Invest with a trusted platform in your financial future.
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References
- www.channelstv.com – What You Should Know About Digital Trading Platform CBEX
- msmeafricaonline.com – What is CBEX? A Closer Look at the Controversial Digital Asset Platform in Nigeria
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