CBEX (CryptoBridge Exchange)
Last changed 2026-11-03 · Community evidence — A moderator accepted a piece of community-submitted evidence: ThisDay quotes EFCC spokesman saying the agency is partnering with Interpol to trace foreign operators of the alleged N1.3tn CBEX fraud, as the note says. Trust score now 0. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -220 |
| Sum | -155 |
- The page establishes that the subject is itself a scheme, so the score is 0.
Score: 0/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-10-27 · 7 of 8 claims confirmed · 1 need better sources
anchored·5YmMTC…oMcySummary
CBEX (Crypto Bridge Exchange), operated through the Nigerian registered shell company ST Technologies International Limited, was an AI-themed investment scheme that targeted retail investors primarily in Nigeria and Kenya between July 2024 and April 2025. The Nigeria Financial Intelligence Unit (NFIU) estimated investor losses at approximately 1.3 trillion naira (roughly $840 million), making it one of the largest crypto-related fraud collapses in African history. Nigeria's EFCC has arrested multiple promoters and arraigned them in the Federal High Court in Abuja; prosecutions were ongoing as of mid-2025.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Community submissions
- https://thisdaylive.com/index.php/2025/04/22/efcc-interpol-in-joint-n1-3tn-cbex-probe(thisdaylive.com)
“[Scout] ThisDay reports the EFCC is collaborating with Interpol to investigate the alleged N1.3 trillion CBEX fraud, and is partnering with Interpol to trace the foreign operators.”
— avoid-scout(unverified)
- https://crypto.news/nigerian-government-issues-fresh-warning-against-cbex-crypto-exchange/(crypto.news)
“[Scout] Crypto.news reports Nigeria's SEC reissued its warning against CBEX, saying it is not registered, has reportedly resumed operations without approval, and asks users to pay withdrawal fees of $200 (balances over $1,000) or $100.”
— avoid-scout(unverified)
2 submissions awaiting moderator review.
Timeline(16 events)
23 April 2024
Hong Kong Securities and Futures Commission (SFC) adds CBEX Group to its Suspicious Virtual Asset Trading Platforms Alert List, warning it is unlicensed and that users have reported withdrawal difficulties.
SFC Hong Kong Alert List / Fintech News HK1 July 2024
CBEX launches operations in Nigeria, presenting itself as an AI-powered crypto arbitrage platform and promising returns of up to 100% in 30–45 days.
France24 / Al Jazeera1 October 2024
Elliptic's investigation identifies the earliest on-chain cross-chain swap activity consistent with fund laundering, indicating TRON-to-Ethereum bridging began around this period.
Elliptic1 January 2025
ST Technologies International Limited, the Nigerian entity used to operate CBEX, obtains an EFCC Anti-Money Laundering certificate, which is subsequently misrepresented to investors as operational regulatory clearance.
France24 / Techloy14 April 2025
CBEX freezes all user withdrawals. Operators initially claim the platform was hacked.
TechCabal / CoinGeek17 April 2025
Nigeria's Securities and Exchange Commission issues a public warning urging investors to refrain from engaging with CBEX, confirming it was never registered as a Digital Asset Exchange.
France24 / Nairametrics24 April 2025
Federal High Court in Abuja grants the EFCC authorisation to arrest and detain six CBEX promoters. Named suspects include Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
Sahara Reporters / Business247News25 April 2025
Suspects Avwerosuo Otorudo and Chukwuebuka Ehirim are taken into EFCC custody.
Nairametrics30 April 2025
EFCC issues international warrants for four Kenyan suspects: Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.
Techweez1 May 2025
CBEX quietly resumes accepting new user registrations despite the ongoing EFCC investigation, offering new accounts withdrawal access while restricting existing victims.
Naija News / Leadership Nigeria26 May 2025
EFCC announces partial recovery of CBEX funds and confirms two arrests. Exact recovered amount is not publicly disclosed.
Sahara Reporters / Premium Times25 June 2025
Operators' self-imposed deadline to return 50% of locked funds passes without any distributions. The claimed UK-government audit is not substantiated.
TechCabal3 July 2025
TechCabal reports CBEX has introduced a successor entity branded HHHE Limited, claiming partnership with an unverifiable company called ZS Exchange.
TechCabal7 July 2025
Avwerosuo Otorudo and Chukwuebuka Ehirim are arraigned before Justice Mohammed Umar at the Federal High Court Abuja (case FHC/ABJ/CR/216/2025) on three counts. Both plead not guilty.
Nairametrics9 July 2025
Adefowora Abiodun Olanipekun, Managing Director of ST Technologies International Limited, is arraigned on an eight-count amended charge (case FHC/ABJ/CR/215/2025) and pleads not guilty.
ThisDay Live / Vanguard News21 July 2025
Federal High Court grants bail of N10 million each to two CBEX promoters. Trial commencement date adjourned to October 13, 2025.
Nairametrics / Vanguard NewsDecision Log
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- slot 465080037 · hash BGEFmWYohXMTdGZCYnhdvmfwP8aNLCsRoQqyBx6eFjdB
- slot 462052143 · hash 86GQy8pCaauRJY29uqcmSaHNwNAf5CYRhd1sgVFeJy13
- slot 462052138 · hash 2NvwrYq4DMsDn1LXT2VdDbuNxcEdaVamo976soJvcVy1
- slot 461962983 · hash 2bRiwK6NKC2YbBegw8AUVCSdtNGs1CaHvajcMkhpB4rR
- slot 451059249 · hash DRYXiPqaQGwASUQsWFfvVL4eSoAfakiQmenvg7zzS3Vj
This investigation is cryptographically anchored to the Solana blockchain (6 decisions). 19 of 23 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/27/2026, 5:06:14 PM
last updated: 11/3/2026, 11:18:41 PM
6 viewsavoid.net — verified advice for a post-truth world