The troubled Nigerian digital asset platform Crypto Bridge Exchange (CBEX) recently announced new withdrawal options in an effort to restore investor confidence. Sources revealed that the company made this announcement after facing claims of collapse. Under the new rules, investors with up to $1,000 in the platform must pay a $100 fee to withdraw 50% of their initial funds, which are expected to be released by June 20, 2025. CBEX has been accused of misappropriating funds from over 600,000 Nigerian users, leading the Nigerian Securities and Exchange Commission (SEC) to declare the platform illegal. Despite the new withdrawal options, some users remain skeptical about the firm’s true status, viewing the activation fee as a potential scheme to defraud more Nigerians. Financial analyst Adeola Odetayo noted that many Nigerians continue to fall for “quick-money-returns” platforms, highlighting a lack of financial literacy in the population.

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