Observant Lady Shares Secret behind CBEX, Gives Detailed Analysis of Crashed Investment Scheme
- A Nigerian lady has shared her thoughts on the failed CBEX digital investment platform, which left many people in tears and trapped millions of naira
- While noting that CBEX looked legit from the onset, she said it was all a camouflage and part of their grand plan to defraud people
- Giving a detailed analysis of CBEX's operations, she said most of its staff might not know the dubious motive of the platform's owner
The CBEX digital investment platform has become a trending topic on social media after it denied thousands of investors access to their funds, suggesting it has crashed.
A Nigerian lady, @abbyweysabi, noted that CBEX pretended to be a genuine scheme by having physical offices, real staff, a functioning customer support system and paid investors quickly.
Source: TikTok
She, however, said it was all part of the owner's plot to make it look legit to get people's trust. The lady added that the platform claimed it made money from crypto trading, but that did not look to be the case. In a TikTok video, she said:
Read also
Man who correctly predicted crash of Cbex said people laughed at him after he sounded alarm
"CBEX looked legit, they had real staff, they paid people for months, but it was all part of the plan...CBEX was presented to be an investment scheme, that they claim they make their money from crypto trading.
"They had real staff, they had a physical building, they had WhatsApp and Telegram support group. It looked like a well-structured business from the outside but it was all a Ponzi scheme."
Source: TikTok
How did CBEX gain people's trust?
According to the lady, CBEX gained people's trust by building their confidence slowly through payouts, referral bonuses and a strong customer support system, adding that they made withdrawals quick at the beginning. In her words:
"How did they gain people's trust? They built their confidence slowly, they were paying people small small, they offered referral bonus so that other people can join, they made their customer support to be very strong that they respond to people's complaints immediately and they also made their withdrawals to be quick as at the beginning.
"So, a lot of people trusted it and were investing more. Some even borrowed money to invest and some even convinced their family members to join..."
On how CBEX paid its investors, she claimed it was done from the funds that new investors brought in.
She opined that most CBEX staff didn't know what happened behind the scenes until its eventual crash.
Going forward, she admonished people to be wary of putting their money into anything that looks too good to be true.
Watch her video below:
Lady's remark on CBEX gathers reactions
Ednutnika7 said:
"E be like say you be CBEX worker because how you take know all these things."
Beckiss_Empire said:
"The One Wey Be Free Minning By Just Playing Game And Subscribing to all their channel ,you receive $4 every week una no do am if it's not free i no do."
DamiXL said:
"My father told me no one gives u money when u do nothing for them, nothing good comes free it has a price which is hard work. na why I never invest in such."
EFPROPERTYNG said:
"CBEX may have failed which is so unfortunate, but that doesn’t reflect the real estate industry. With legit properties and licensed professionals, real estate is still a reliable path to wealth."
Modadeola20🇳🇬🇬🇧 said:
"Everything you said was right until your last statement , so you expect me to trust the investment you will drop if I follow you??"
BB😎 said:
"You’re the kind of wife I have been looking for all this while🥰, this’s exactly what I have been telling my family and friends but then I’m there enemy of progress."
Oh rays 🇳🇬 🇬🇧 said:
"This is a low analysis, then how were they able to keep it up for so long ? There must be profit making to continue in that circle for so long. Life happened that’s all."
In a related story, Legit.ng reported that the Economic and Financial Crimes Commission (EFCC) had reacted to the alleged crash of CBEX.
UK-based lady loses money to CBEX
Meanwhile, Legit.ng previously reported that a lady based in the United Kingdom had cried out on social media after losing money to the failed CBEX investment platform.
In a touching video, the woman broke down in tears and shared her intention with the money she put into CBEX.
People wanted to know how much she lost to the alleged Ponzi scheme, and the amount she mentioned startled netizens.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
Victor Duru (Editor) Victor Duru is a Reuters-trained award-winning journalist with over 4 years of working experience in the media industry. He holds a B.Sc in Management Studies from Imo State University, where he was a Students' Union Government Director of Information. Victor is a human interest editor, strategic content creator, freelancer and a Google-certified digital marketer. His work has been featured on US news media Faith It. He can be reached via victor.duru@corp.legit.ng
Kola Muhammed (Copyeditor) Kola Muhammed is an experienced editor and content strategist who has overseen content and public relations strategies for some of the biggest (media) brands in Sub-Saharan Africa. He has over 10 years of experience in writing and (copy)editing.
