The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) is deeply concerned by the disturbing reports surrounding the operations of “CBEX Global Investment,” an unregistered entity that has been accused of defrauding Nigerian citizens under the guise of operating a virtual asset trading platform.
According to widespread media reports and victims’ testimonies, CBEX lured unsuspecting Nigerians into a scheme promising unsustainable returns while collecting “investment” funds via cryptocurrencies. Preliminary findings suggest that CBEX never operated any genuine virtual asset trading platform. Rather, it used artificial intelligence (AI) to simulate trades and withdrawals—deceiving its users—while cryptocurrencies were simply a means of receiving and laundering the proceeds…
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