EFCC Urges Victims of CBEX Crypto Scam to Aid Investigation

The Economic and Financial Crimes Commission (EFCC) has called on Nigerians who lost money to the now-defunct cryptocurrency platform, Crypto Bridge Exchange (CBEX), to report to its zonal offices in Ibadan and Lagos to assist with ongoing investigations.

The appeal was made in a statement issued on Friday, August 23, by the EFCC’s Head of Media and Publicity, Dele Oyewale, in Ibadan.

According to the commission, CBEX defrauded investors by promising unrealistic returns on crypto investments, leading to total losses exceeding ₦1 billion before the platform collapsed in April 2025.

“The EFCC is currently prosecuting three suspects — Adefowora Olanipekun, Otorudo Avwerosuo, and Ehirim Chukwuebuka — over their alleged involvement in the scam,” the statement said.

The agency urged affected individuals to visit its Ibadan Zonal Directorate or Lagos Zonal Directorate 2 to provide statements and support evidence collection.

“In view of the foregoing and the need to assist the Commission in its ongoing investigation, the EFCC is inviting victims who invested their funds through individuals linked to the CBEX offices in Ibadan and Idimu, Lagos,” Oyewale added.

The EFCC assured that efforts are ongoing to ensure justice is served and to recover funds where possible.