365Crypto
A Nigerian court has given the go-ahead to arrest six people accused of scamming crypto investors.
The Economic and Financial Crimes Commission (EFCC) says these six promoted a fake crypto platform called Crypto Bridge Exchange, or CBEX.
They allegedly tricked investors into putting money in, stealing a total of about $620,000.
The scammers used their company, ST Technologies International Limited, to advertise CBEX.
They ran flashy ads and convinced people to invest their crypto through CBEX’s platform.
But many users said that by April, they couldn’t get their money out.
Things got heated when investors stormed CBEX’s office in Ibadan. They even took furniture like air conditioners in frustration.
The suspects have not yet been arrested, but the court has approved it.
This isn’t Nigeria’s first crackdown on crypto fraud.
Earlier in 2024, two Binance executives were detained after flying into the country to talk about the platform.
One of them, a U.S. citizen named Tigran Gambaryan, was held for eight months on tax and money laundering charges. He’s now back in U.S. custody.
Even though Binance doesn’t have a physical office in Nigeria, the tax case against it is still ongoing.
