We’ve recovered some CBEX funds and arrested some culprits – EFCC
Image Credit: ladunliadinewsThe Economic and Financial Crimes Commission (EFCC) has recovered funds and arrested suspects linked to the Crypto Bridge Exchange (CBEX) scam, which defrauded Nigerians of over N1.3 trillion.
EFCC Chairman Ola Olukoyede noted significant progress despite challenges posed by digital and non-custodial crypto wallets, which complicate tracing and converting funds back to cash.
Some suspects remain at large, with the EFCC continuing investigations and cautioning the public against ongoing fraudulent activities related to the collapsed platform.
The CBEX platform shut down in April amid withdrawal failures, leaving many investors stranded.
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