CBEX Collapse: A Tough Lesson for Nigeria’s Crypto Dreamers

In April 2025, a lot of dreams were shattered. CBEX (Crypto Bridge Exchange), a digital trading platform that promised quick returns and easy crypto access, suddenly collapsed — leaving thousands of Nigerians worried about their hard-earned savings.

It’s a painful story, but unfortunately an increasingly common one. It’s also an important reminder: trust — real trust — is the foundation of any financial future, especially in fast-growing spaces like crypto.

What Was CBEX?

CBEX looked like an opportunity for many people. A smooth app. Big promises. Fast returns.

But behind the scenes, there were serious problems. Nigeria’s Securities and Exchange Commission (SEC) has confirmed that CBEX — along with other names it operated under, like ST Technologies International Ltd and Smart Treasure — was never officially registered to offer crypto services. They were offering investment deals that, sadly, were just too good to be true.

Now, many people are locked out of their accounts — with little information, and even fewer options to recover their funds.

Why It Hurts So Much

It’s easy to look back and spot the warning signs. But when you’re trying to grow your savings, take care of your family, or build a better future, it’s natural to trust platforms that seem to offer a way forward.

Crypto has opened real doors in Africa — offering faster payments, more financial access, and a way around sometimes unstable banking systems. But when the guardrails aren’t there, it also creates opportunities for bad actors to take advantage of hope.

And that’s exactly what makes cases like CBEX so devastating. They don’t just steal money — they steal trust.

Signs to Watch Out For

Even the smartest investors can get caught out. But going forward, here are a few signs that should raise a red flag:

🔎 No proof of registration with local regulators

🔎 Big promises of “guaranteed” high returns

🔎 Vague or complicated company structures (especially multiple names)

🔎 Aggressive marketing without clear details

🔎 Little to no transparency about how your money is actually managed

If a platform can’t easily explain who they are, how they operate, and what protections they offer — that’s a reason to pause.

Building a Safer Crypto Future

At Anqa Compliance, we believe technology should empower people — not put them at risk.

That’s why we help financial platforms build the kind of trust that lasts: by making compliance simpler, faster, and more accessible for businesses across Africa and Asia

Because at the end of the day, innovation only matters if it makes people’s lives better — and that starts with protecting their trust.

If you’re using — or building — digital finance tools in emerging markets, strong foundations aren’t just good business. They’re a promise to the people you serve.

Final Thoughts

Crypto is still full of promise. It can unlock opportunity across Africa in ways traditional banking never did.

But that promise only means something if it’s built on trust, transparency, and care.

CBEX is a tough story. But it’s also a chance for the industry — and all of us — to do better.

Because everyone deserves a financial future they can believe in.