The long-anticipated CBEX crash has finally happened, and unfortunately, many people have already lost their money. In this article, I’ll break down everything you need to know about the CBEX scam, the so-called refund process they’re proposing, and my honest advice on what you should do if you’re a victim.
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ToggleWhat Happened to CBEX?
CBEX, formerly known as CBEX, operated under various names and domains such as CBEXOKL2024.com and CBEX.cx. Many users believed it was a legitimate trading platform, often backed by alleged licenses and AI-based trading technologies. However, from the very beginning, I raised red flags about this platform.
Why I Called Out CBEX Early On
Long before any issues became public, I made videos on my automated channels warning people about CEX. I shared five verifiable red flags, including:
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No app on the App Store or Google Play
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No known founders or team behind the company
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Questionable licensing claims (MSB license isn’t enough)
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Domain name registration in 2024 — the same time a warning was issued by SFC
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Lack of any real customer support or accountability
Despite the backlash, I stood firm in calling it out as a scam. Some people defended the platform at the time, but I’m here today with the same message: CEX is a scam.
Why You Shouldn’t Blame EFCC or Regulators
Some have blamed the EFCC and other regulatory bodies, but here’s the truth — these scams often evolve faster than regulators can react. It’s up to independent investigators and financial watchdogs like myself to spot these scams early and raise the alarm.
Remember, I issued multiple warnings before the crash, urging users to withdraw their funds while they still could.
The So-Called Refund Process: Another Trap
Now, CEX is offering a “refund” process where users are asked to deposit $100–$200 based on their previous account balances. Let me be very clear:
Do not pay any additional money to CBEX or any platform claiming to recover your funds.
This is just another layer of the scam. Once you pay, you’ll likely never hear from them again, and you’ll lose even more money.
What You Should Do Instead
If you’ve already lost money in the CEX scam:
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Count your losses and move on.
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Do not deposit more money in hopes of recovery.
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Warn others — share this article or my previous videos with friends and family.
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Report the platform to local authorities or cybercrime units.
Use that $100 or $200 to invest in a legitimate business, upskill yourself, or even just treat yourself. Don’t let scammers drag you into a deeper hole.
The FB Scam Connection
In my next post, I’ll cover FB, another scam platform reacting to the CEX crash, claiming they’ll “help” victims recover funds. FB is also a scam — don’t fall for their bait.
The sad truth is, one scam is now using another scam’s failure to recruit new victims. I’ve been warning about FB for over a month now, and it’s following the same Ponzi playbook.
Final Thoughts: Ask the Right Questions
Don’t wait for EFCC or other agencies to save you. When someone introduces a platform to you:
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Ask the hard questions.
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Check their app presence, licensing, domain age, and leadership transparency.
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Watch out for flashy “AI” and “forex trading” buzzwords.
And most importantly, don’t bash those who are trying to protect you.
Conclusion
If you or someone you know has fallen victim to CEX, don’t pay another dime. This refund proposal is just another trap. Instead, focus on recovery, stay informed, and protect others from falling into similar scams.
Thanks for reading — I’ll see you in the next post where I expose FB and its shady tactics.
