CBEX Reloaded: Scam Platform Resumes Operation in Nigeria Despite SEC Ban Over ₦1.2 Trillion Fraud

Hotgistloaded May 02, 2025

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CBEX RELOADED

In a shocking turn of events, the notorious scam platform CBEX has resumed operations in Nigeria under a new disguise — CBEX Reloaded (Season 2), now tagged with the slogan "Poverty + Wishes." This move comes even after the Securities and Exchange Commission (SEC) banned CBEX due to its involvement in an alleged ₦1.2 trillion money laundering scheme currently under EFCC investigation.

Veteran Scammers Strike Again

According to our research and insider findings, the masterminds behind CBEX are not new to this game. These are experienced fraudsters — veterans who understand the loopholes in Nigeria’s regulatory system. After evading law enforcement during the first wave of CBEX, they seem to have found a new, secure base of operations and are launching what looks like another coordinated attack on unsuspecting Nigerians.

They’ve spent the past few weeks carefully studying the weaknesses of our law enforcement agencies — including the EFCC, Interpol, and even local cybersecurity units — only to discover that they remain untraceable. This emboldened them to roll out CBEX Reloaded, a smartly rebranded scam platform that now claims to be fully insured and legit.

CBEX RELOADED

CBEX Reloaded Is Testing Nigeria’s System — Not Just Citizens

Interestingly, this time it seems the scammers are not just targeting regular citizens. According to online analysis and crypto watchdog groups, CBEX Reloaded may actually be testing the weaknesses of Nigeria's financial law enforcement systems, possibly as a challenge or a distraction.

They’ve even reactivated the withdrawal option on their platform — something that wasn’t available during the collapse of the original CBEX. However, all old account balances were wiped clean after an alleged AI trading failure on April 14th, where the system reportedly lost all trades in a single day. This “glitch” appears to be a convenient excuse to reset the system and shift blame.

Now They Blame AI, Promise Insurance Payouts

To defend themselves from previous accusations, CBEX promoters now claim the losses were due to a technical error with their Artificial Intelligence system. Even more surprisingly, they now allege that CBEX Reloaded is insured by a UK-based company, and that fund verification is currently ongoing.

They’ve introduced a controversial “recovery” scheme:

Users who had $1,000 or less in their old accounts are being told to reinvest $100 to “unlock” and recover their previous balance.
Those with more than $1,000 are asked to pay $200 for recovery.
However, even after paying, the recovered funds can only be used for trading — not withdrawal (at least for now).

CBEX RELOADED

But Since When Does Insurance Work This Way?

Here’s the big red flag: Have you ever seen a situation where a victim has to pay an insurance company to recover their loss? Whether it's a stolen car or a damaged house, the insurer is supposed to pay you, not the other way around. This twisted narrative is a massive scam red flag and another tactic to lure people back into the CBEX trap.

Final Warning to Nigerians

CBEX Reloaded is not a second chance — it’s still a second scam. Don’t fall for the illusion of insurance, AI excuses, or balance restoration schemes. The same criminals are back with a cleaner UI, sharper words, and a bolder strategy. They're not just scamming citizens; they’re mocking our law enforcement by showing they can still operate freely in Nigeria.