EFCC Declares Four Wanted Over Alleged $1 Billion CBEX Scam
The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted in connection with a suspected $1 billion cryptocurrency investment scam tied to an online platform known as Crypto Bridge Exchange (CBEX).
In a statement released by Dele Oyewale, Head of Media and Publicity for the commission, the suspects — Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun — are accused of running an elaborate scheme that enticed thousands of investors with promises of huge returns.
According to the EFCC, the group operated under the CBEX brand, encouraging users to deposit digital assets, mainly the stablecoin USDT, into the platform. After collecting a massive amount of funds, the platform was suddenly taken offline, leaving investors stranded and unable to retrieve their money.
The EFCC is urging anyone with useful information about the suspects’ whereabouts to come forward. Tips can be reported at any EFCC office across the country, including branches in Lagos, Ibadan, Abuja, Kano, Enugu, Gombe, or Port Harcourt.