Despite the purported N1.2 trillion digital trading scam that allegedly impacted over 600,000 Nigerians, the troubled Crypto Bridge Exchange trading platform, CBEX, has reopened and announced new withdrawal alternatives in an effort to regain investor confidence.

Despite continuing regulatory agency investigations, Punch reports that two traders on the CBEX platform have confirmed that the digital trading company has discreetly resumed operations, enabling new customers to register, trade, and withdraw winnings.

The sources claim that in order to determine the amount lost in the scheme, which failed in April, an external audit of the company’s financial records and an insurance verification procedure are currently in progress.

They further stated that current investors, many of whom have been unable to access their money for weeks, will be able to do so beginning on June 25, 2025, when a UK-based insurance company is anticipated to complete the audit.

This development occurs just a few weeks after the Economic and Financial Crimes Commission acknowledged an ongoing inquiry into the firm’s operations and the Securities and Exchange Commission ruled that the platform was unlawful.

Justin Nwosu

Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.