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nigeria Anti-Corruption Police the
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Economic and Financial Crimes Commission
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EFCC has declared eight persons wanted
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in connection with the 1.3 trillion
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naira fraud committed by an online
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cryptocurrency platform CryptoBridge
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Exchange CBEX allegedly an unregistered
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financial trading company in Nigeria but
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according to EFCC a registered company
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ST Technologies International Limited
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promoted or aided the suspected criminal
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trading platform this occurred after the
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Nigeria Securities and Exchange
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Commission SEC in a statement on April
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17th 2025 gave public assurance to
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prosecute the promoters of the suspected
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fraudulent trading platform and the
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statement from SEC indicated probably
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that there is porousness in the Nigeria
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intelligence system signaling that the
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Nigeria intelligence assets like the
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media State Security Services SS Defense
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Intelligence Agency DIA National
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Intelligence Agency NIA Nigeria
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Financial Intelligency Unit NFIU of
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Central Bank of Nigeria CBN Force
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Intelligence Department FID of the
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Nigeria Police Force NPF among others
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are apparently too weak in protecting
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the West Africa sovereignty against
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financial invasion and terrorism despite
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the huge billions of naira of taxpayers
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monies spent yearly by the presidency
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through the office of the national
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security adviser NSA and CBN on the
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aforementioned intelligence assets the
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state assets failed to be alive their
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societal responsibilities and a criminal
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organization invaded the Nigeria media
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space openly advertised its criminal
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activities for long and successfully
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stole evacuated and converted trillions
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of Nigeria currency to foreign currency
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or currencies causing huge pressure and
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devaluation of the Naira and thus making
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costs of living go higher with no
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Nigeria intelligence asset including the
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press being able to proactively track
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and forstall the act of national
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terrorism committed against the Nigeria
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state among those declared wanted on
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Friday by EFCC includes
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Adafala Adafala Wanosola Emanuel Ako and
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Sha Yolied and others named by EFCC as
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alleged foreign accompllices include
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Johnson Akiro Oteno Israel and Beluca
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Joseph Miro Cabra and Sarah Miro sec has
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stated that the attention of the
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Securities and Exchange Commission the
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commission has been drawn to recent
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media reports publications on the
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activities of CBEX CryptoBridge Exchange
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cbex which also operates under the
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corporate identity of ST Technologies
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International Limited Smart Treasure
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Super Technology has held itself out as
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a digital asset trading platform
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offering high returns to investors in
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Nigeria the commission hereby clarifies
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that neither CBEX nor its affiliates
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were granted registration by the
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commission at any time to operate as a
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digital assets exchange solicit
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investments from the public or perform
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any other function within the Nigerian
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capital market preliminary
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investigations carried out by the
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commission have revealed that CBEX
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engaged in promotional activities to
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create a false perception of legitimacy
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in order to entice unsuspecting members
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of the public into investing monies with
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the promise of implausibly high
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guaranteed returns within a short time
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frame cbex has failed to honor
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withdrawal requests from their
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subscribers and abruptly closed their
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physical offices amid mounting
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complaints pursuant to the provisions of
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section 196 of the Investments and
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Securities Act 2025 the commission would
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collaborate with relevant law
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enforcement agencies to take appropriate
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enforcement action against the CBEX its
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affiliates and promoters the commission
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uses this medium to remind the public to
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refrain from investing in or dealing
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with any entity offering unrealistic
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returns are employing similar
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recruitmentbased investment models
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prospective investors are advised to
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verify the registration status of
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investment platforms via the
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commission's dedicated portal
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www.sec.gov.ng/semos before transacting
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with them it would be recalled that the
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digital trading platform came to a halt
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earlier this month after the money in
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Nigerian investors wallets vanished it
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was observed that the CBEX also locked
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its Telegram channels and postponed its
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withdrawals while giving investors the
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lifeline of $2,000 for $200 verification
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and $1,000 for $100 verification
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analyzing the crash on X space organized
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by trending X as monitored and reported
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by Punch newspaper a cryptocurrency
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expert and security analyst Taiwabi said
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data has shown that the money was moved
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to a TRX address yourself TDQS its forex
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DKHSCF and the total volume stolen so
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$847 million and likely to increase obi
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stressed that the invested funds are
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gone because CBEX is not a licensed
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platform and the creators designed a
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weak website to look like Bivbit which
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is a legitimate trading platform they
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designed the weak website to convince
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people in the future that it was a
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security breach that affected them
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apparently when you make payments you
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pay them into a TRX account and then
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immediately they move it from that TRX
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wallet gather it convert it to USDT then
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to red so when you are logging into your
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account there is literally no money on
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your profile what you see are just
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numbers all the daily activities you do
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to trade increase your money all the AI
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trading is fake when it's time for
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withdrawal they will send you another
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person's money since you won't be
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leaving them because of greed you will
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most likely put the money back and even
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more so they will use that same money to
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pay another person as you spread the
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word for them more people will join and
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do the same meanwhile the Economic and
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Financial Crimes Commission EFCC has
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declared eight individuals wanted over
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the alleged investment fraud perpetrated
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on the CryptoBridge Exchange CBEX
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trading platform the EFCC action is
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coming in the wake of the warrant of
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arrest and order granted the EFCC by a
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federal high court in Abuja on Thursday
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for six suspects justice Amecha and
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Whitee gave the order following an ex
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party application filed by the EFCC
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through its council Feda Ysef
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spokesperson of the EFCC dele made the
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announcement in a post on Friday with
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the suspected person's photographs
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attached against the names with the
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residential address of some of them in
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Nigeria stated in the EFCC court
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affidavit in support of the motion e FCC
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said preliminary investigation into the
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Intel revealed that the defendants using
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their company ST Technologies
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International Limited promoted another
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company CryptoBridge Exchange CBEX by
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making adverts and lured unsuspecting
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members of the public to invest crypto
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cryptocurrencies on the CBEX investment
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platform the EFCC said the defendants
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promised an unrealistic return on
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investment of up to 100%
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recall that Nigerians who invested in
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the platform have been thrown into
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despair after the crash of the business
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recently about 1.3 trillion naira was
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reportedly wiped out from the investors
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account after the digital trading
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platform boasted of giving investors
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100% return on investment ROI in 30 days
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operating under the CBEX name the group
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allegedly encouraged people to deposit
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digital assets particularly the stable
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coin USDT into the platform after
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amassing a significant amount of funds
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the platform was abruptly shut down
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leaving investors stranded and unable to
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recover their money the commission is
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calling on the public to come forward
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with any information that could lead to
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the arrest of the suspects tips can be
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reported to any EFCC office nationwide
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including branches in Lagos Abadan Abuja
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Carno Anugu Gome or Port Harkort the
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public is hereby notified that the
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persons whose photographs appear above a
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suspected foreign accompllices wanted by
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the Economic and Financial Crimes
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Commission EFCC for Ford allegedly
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perpetrated on an online trading
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platform called CryptoBridge Exchange
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anybody with useful information as to
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their whereabouts should please contact
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the commission in its abden uyo sakato
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maiduri Benin Mccertie Kaduna
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chlorinu caro Lagos Gome port or Abuja
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0893322644 its email address info at
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NG or the nearest police station and
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other security agencies some parts of
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the EFCC statement reads in
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quote bringing you the news in a more
