EFCC, Interpol Investigate N1.3 Trillion CBEX Fraud

The Economic and Financial Crimes Commission (EFCC) is investigating a suspected N1.3 trillion fraud linked to the collapsed digital investment platform, CryptoBank Exchange (CBEX). The EFCC has partnered with INTERPOL to track both local and international perpetrators, with spokesperson Dele Oyewale confirming that the commission had prior intelligence on CBEX before its abrupt collapse. Many investors have reported being unable to access their funds, with some balances allegedly wiped out after the platform demanded additional deposits for account verification. Oyewale reassured the public of the EFCC's commitment to dismantling Ponzi schemes and recovering lost funds, indicating ongoing investigations into other similar fraudulent activities. Although the exact loss figures are yet to be confirmed, reports suggest over $847 million may be involved, affecting both Nigerian and foreign investors. The EFCC aims to prosecute those responsible and protect citizens from such scams.