Tensions boiled over in Ibadan last night as furious investors stormed and looted the office of CBEX, a once-popular cryptocurrency and forex trading platform, amid allegations of a large-scale investment fraud.
The unrest broke out in the Oke-Ado area of Ibadan, Oyo State, where videos circulating on social media showed enraged individuals carting away items including televisions, air conditioners, and office equipment from the CBEX premises.
The chaos followed reports that the company had mysteriously wiped out the accounts of hundreds of users without warning, reports Nigerian Tribune.
The incident comes as shock and anger mount across the country, with CBEX users discovering over the weekend that their account balances had been cleared.
Many reported being unable to make withdrawals, just days ahead of the platform’s previously scheduled withdrawal date of April 15.
CBEX, which had garnered significant attention through high-yield investment promises and aggressive digital marketing, now stands accused of orchestrating what appears to be a Ponzi scheme.
