Lagos, Nigeria – Concerns don dey circulate for social media about CBEX, one digital asset trading platform, as users dey warn say e fit be Ponzi scheme. On Wednesday, one X user wey go by Man of Letters (@Letter_to_Jack) post caution for the platform after e hear about person wey invest $1,000 and withdraw $5,000. E conclude say e get serious doubt about the platform’s legitimacy.
“Having done all my checks, the platform flies all the flags of a Ponzi scheme,” e write. “People dey cash out steady with no losses. You know wetin that mean? Easter, Ileya or Xmas.” E also talk say, “For those wey no understand, I dey tell you say the crash dey near; better make you use your money play bet than enter this. Na zero-sum game; you go dey cry.” But wetin matter be say, some X users interpret his message different. Some feel say e dey promote the platform.
As the story unfold on Friday, fear don dey spread say the platform don crash with many users get their money stuck for the platform. Reacting to the situation, X user Ajoke (@BlessedAjoke) tweet say, “CBEX still dey work properly, just say you no fit withdraw until 15th of April. Abeg stop dey spread fake news. No give people heart attack nah.” Another user, aust;n (@0kparam), criticize those wey dey celebrate the platform’s possible collapse, saying: “Y’all dey act like CBEX crashing go make you financial sages. Nah, e just go make you bitter haters… Ponzi, yen yen yen. Just stfu coward,” he write.
Meanwhile, some users dey highlight the risks wey dey involved, with Mazi Nathan (@rukky_nate) comparing CBEX to past Ponzi schemes. E tweet, “MMM na global Ponzi scheme wey later crash. Rackstelli na local Ponzi scheme wey also crash. CBEX get all the signs of a Ponzi scheme but Nigerians dey too greedy with short-term memory.”
Inside the wahala, CBEX official X handle, @cbextrades, maintain positive tone, dey share updates about their outreach activities and ongoing summits. One post talk, “Today, instructors from the Abeokuta office dey go door-to-door to promote the project and encourage people to join this great initiative.” Another post state, “CBEX fit never crash. We go forever stand strong. No panic at all. Only those wey no dey with us for long go panic and lose hope.” A third post add, “Everybody should remain vigilant, avoid clicking on unfamiliar links, and no share your account password or verification code to prevent scammers.”
“We no dey run away with anybody’s money. Everything dey in order. CBEX exchange go forever stand,” dem conclude.
