Panic and heartbreak have swept through the investor community following the sudden collapse of CBEX, a digital trading platform that promised users a 100% return on investment within a month.
Thousands of Nigerians, many of whom invested in U.S. dollars, were left devastated as the platform crashed without warning—wiping out millions in users’ funds. Viral videos have surfaced online showing distraught individuals in tears, with some revealing they lost life savings running into millions of naira.
The trouble began when users reported difficulty withdrawing their earnings. Soon after, numerous accounts showed a balance of zero, sparking suspicion and widespread alarm.
The crash triggered a wave of emotional reactions across social media. In one widely shared video, several women can be seen sobbing uncontrollably, questioning how they were lured into what appears to have been a fraudulent scheme.
Tensions boiled over on Monday in Ibadan, Oyo State, when an angry mob stormed the CBEX office located in the Oke Ado area. Eyewitnesses said the crowd broke into the premises, looting furniture, electronics, and office equipment in frustration over their financial losses.
As of the time of reporting, no official statement has been released by authorities, and it remains unclear whether any arrests have been made in connection with the looting or the platform’s operators.
