CBEX Returns with Controversial Reactivation Fee Demand

Controversial Cryptocurrency Platform Crypto Bridge Exchange (CBEX) has resurfaced after disappearing with millions in investors’ funds, sparking fresh outrage. The platform has reactivated users’ dashboards, displaying their previous balances, but with a catch: investors are 

now being asked to pay a “reactivation fee” ranging from $100 to $200 to access their funds or continue trading.

One Ibadan-based investor said, “I got a message that CBEX is back online. My dashboard shows my original balance, but now they say I must pay $200 to withdraw. This looks like another scam layer.” The fee structure appears to target investors with smaller deposits, who are asked to pay $100, while those with higher balances are demanded to pay $200.

CBEX gained popularity in late 2024 by promising unrealistic returns, pledging to double deposits within 40 days. However, the platform abruptly shut down operations in April 2025, locking thousands of Nigerians out of their accounts and wiping out their life savings. The Economic and Financial Crimes Commission (EFCC) has launched investigations, arresting several individuals linked to the scam and tracing stolen funds to accounts in three foreign countries.

A fintech analyst warned that CBEX’s latest move may be a ploy to defraud victims again. “It’s a classic double-dip strategy. First, they take your money, vanish, return with fake promises, and then demand more. People should be very cautious.”

The EFCC is yet to release an official statement on CBEX’s reappearance but sources confirm the agency is monitoring developments closely. The incident highlights the growing threat of digital investment fraud in Nigeria and the need for stronger regulatory oversight and investor education.