Panic gripped parts of Ibadan on Monday after a group of enraged individuals believed to be investors stormed the China Beijing Equity Exchange (CBEX) office in the Oke Ado area, following the sudden crash of the digital trading platform.
Eyewitnesses reported that the mob forcefully gained access to the premises and looted furniture, electronics, and other office equipment. The chaos was allegedly sparked by the disappearance of funds from users’ accounts after CBEX became inaccessible.
Videos shared online show a large crowd ransacking the office, with individuals carrying out various items while others gathered outside in protest.
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Victims of the crash have flooded social media with accounts of their losses, accusing CBEX of orchestrating a massive fraud. Many expressed heartbreak over the disappearance of their investments and called on authorities to intervene.
As of press time, law enforcement agencies have not issued an official statement regarding the incident or confirmed any arrests related to the looting.
CBEX had promoted itself as a secure digital asset trading platform, promising high returns and transparency. However, its legitimacy is now under question, as investors allege deceptive operations and manipulation.
In response, the Securities and Exchange Commission (SEC) has reiterated that any digital trading platform not registered with the commission is operating illegally. The SEC warned the public to be wary of such platforms, emphasizing the risks of investing in unregulated financial schemes.
Also in Lagos, the office of Crypto Bridge Exchange Smart-Treasures, popularly known as CBEX, was overwhelmed on Tuesday by angry investors after the abrupt disappearance of their funds from the platform’s trading app.
Located at Seliat Bus Stop in the Egbeda-Idimu area, the CBEX office became a flashpoint of frustration as users, many of whom had been promised “100 percent returns every month,” stormed the premises demanding answers.
CBEX had been promoted as an AI-driven cryptocurrency trading platform, offering users the ability to trade digital assets with seemingly guaranteed high returns.
Videos obtained by BREAKING showed a large crowd of distressed investors gathered outside the office gate—some lining the roadside, others trying to force entry into the compound.
Armed officers from the Lagos State Police Command were seen on the scene in a white patrol van, apparently deployed to maintain order and prevent the situation from escalating.
 office in the Oke Ado area, following the sudden crash of the digital trading platform.){kind=link}