EFCC detained several persons suspected of fraud on the CBEX platform, and continues to search for other offenders hiding from justice. Olukudye said that part of the assigned money has already been returned to investors, but he did not specify the amount due to the confidentiality of the investigation.
“We are careful and do not reveal too many details so as not to jeopardize the tracking of funds. There are several more people in our list of those wanted. We have reached significant progress in CBEX. Significant amounts have already been returned to investors, ”said EFCC chairman.
The head of the EFCC complained about technical difficulties associated with the converting of returned cryptocurrencies into fiat money, in particular, US dollars.
The CBEX cryptoine investment platform crashed in April 2025, as a result of which thousands of Nigerians could not access their funds. Investors’ losses are estimated at $ 1 billion. Olukuyeda said that the creators of the CBEX platform attracted the Nigerians to register nothing suspecting customers, and also created a confidential atmosphere with the help of advertising events.
“Many of the organizers of the scheme were foreigners who hired local residents as intermediaries. They organized seminars and conferences to gain public trust. We have a video from these events, where specialists in capital markets were invited, ”said Olukudye.
In April, the Federal Supreme Court of Abuja allowed EFC to arrest six CBEX promoters. They promised customers up to 100% of the profit from invested funds converted into USDT stabelcoins.
Source: Bits
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