Banker Who Lost Money in MMM Invests in Cbex, Loses Everything Again

• A man reportedly invested his money in Mavrodi Mundial Moneybox (MMM) and lost during the heydays of the Ponzi scheme
• The man invested in the Ponzi scheme after he was sacked from a bank where he used to work and he had nothing to do.
• However, in 2025, the man also invested in Cbex, another investment platform alleged to be a Ponzi and he lost his money

A Nigerian man has perpetually lost money in Ponzi schemes, and yet, it seemed he had not learned his lessons.

The story was told of a man who lost his investment in Mavrodi Mundial Moneybox (MMM) years back.

The man had invested in the failed Ponzi when it was still in operation, but he lost all that he put into it.

As of when he made the failed investment, the man had no job because he was sacked by the bank where he was working.

Read also

Cbex: Ponzi scheme crashes just 2 hours after Nigerian lady invested N2 million in it

However, people were shocked when he invested another money in Cbex, another Ponzi scheme that reportedly failed in 2025.

The story was told on X by Clara Odeyemi, who said the man in question was her colleague.

She wrote:

"My colleague was sacked from Intercontinental Bank and he invested all he had in MMM(Moku, Mogbe, Modaran). I was surprised he invested in CBEX too. He lost everything again."

Is Cbex a Ponzi scheme?

Earlier in the week, there were social media posts alleging that Cbex had crashed.

Looking through the website of the Securities and Exchange Commission (SEC), there is a list of digital assets trading companies, but Cbex was not seen there.

Also, a search of the name 'Cbex' on the SEC dedicated portal for investment operators did not yield any results. It is not clear if Cbex is a registered investment platform.

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Man who visited Cbex office in Lagos shares what he observed about building and people he met there

In a post, an X user identified as Man of Letters said someone he knows had invested on the platform.

He said:

"Someone told me about a 'CBEX' this evening. They invested $1k and have since withdrawn $5k this year. Having done all my checks, the platform flies all the flags of a Ponzi scheme. People are cashing out steady with no losses. You know what that means? Easter, Ileya or Xmas."

See the post below:

Man had warned about Cbex but was ignored

Earlier, Legit.ng reported that a Nigerian man had issued a warning in March, expressing concerns about the operations of Cbex, a digital assets trading company.

The man, Ub Edem Uman, had shared a post on Facebook, alleging that the Cbex trading platform might not last beyond May before crashing.

Earlier in April, many people on social media alleged that the Cbex trading platform had crashed and that traders' funds were trapped.

Read also

Cbex: Man mentions another alleged Ponzi scheme, warns people to withdraw their money

He had said:

"Please if you are on CBEX, the end is very close. I just heard they introduced a 6 months plan, that is a huge red flag. It means the system is under stress and they are trying to discourage as many people as possible from withdrawing. With the Ramadan and Easter celebrations at the corner, they MAY not last beyond Easter; they may last a little longer. Whatever you do, DON'T JOIN THAT 6 MONTHS PLAN, YOU WON'T SEE THAT MONEY AGAIN."

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng