CBEX Resumes Operations Amid ₦1.2 Trillion Fraud Case, Imposes 50% Withdrawal Fee

CBEX, a Nigerian cryptocurrency platform, has resumed operations amidst an ongoing investigation into a ₦1.2 trillion fraud case involving over 600,000 Nigerians. The platform's new withdrawal plan has sparked significant suspicion among investors. According to the new rules, investors with up to $1,000 in the platform must pay a $100 fee to withdraw 50% of their initial funds. This move has raised concerns about the platform's legitimacy and the safety of investors' funds.

The resumption of operations by CBEX, despite the ongoing investigation, has left many investors wary. The platform's decision to impose a withdrawal fee has further fueled suspicions, as it appears to be a tactic to discourage investors from withdrawing their funds. This move could be seen as an attempt to maintain liquidity and prevent a mass exodus of investors, which could potentially lead to the platform's collapse.

The situation highlights the risks associated with investing in cryptocurrency platforms, particularly in regions where regulatory oversight is limited. Investors are advised to exercise caution and conduct thorough due diligence before investing in such platforms. The lack of transparency and accountability in the cryptocurrency industry makes it vulnerable to fraudulent activities, and investors must be vigilant to protect their interests.