Tag: CBEX

CBEX Ponzi and ‘Miracle Money’, By Olusegun Adeniyi

Bode DoluLeave a Comment on CBEX Ponzi and ‘Miracle Money’, By Olusegun Adeniyi

Long before the late Sergei Mavrodi arrived on the Nigerian financial scene in November 2015 with his MMM pyramid scheme, his reputation as an international fraudster preceded him. As far back as 2007, Mavrodi had been convicted in Russia for defrauding 10,000 investors. But somehow, he survived brushes with the law over sharp practices to go global with […]

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From MMM to CBEX: Timeline of Ponzi schemes that have duped Nigerians

Bode DoluLeave a Comment on From MMM to CBEX: Timeline of Ponzi schemes that have duped Nigerians

Over the years, Nigerians have fallen victim to a series of Ponzi schemes that promised quick riches but ended in devastating losses. From the infamous Mavrodi Mundial Moneybox, popularly known as MMM that crashed in 2016, leaving millions of investors stranded, to the recent collapse of CBEX and other crypto-based platforms, the allure of high […]

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CBEX allegedly wiped off Nigerian investors’ N1.3trn in nine months

Bode DoluLeave a Comment on CBEX allegedly wiped off Nigerian investors’ N1.3trn in nine months

CryptoBridge Exchange known as CBEX may have joined a long list of successful scams in Nigeria. According to Nigerian investors, the people behind the digital platform have carted away over N1.3 trillion from their wallets after crashing on Monday. The platform now joins the scams hall of fame in the country. This list includes Mavrodial […]

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