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EFCC Recovers Funds in CryptoBank Exchange (CBEX) Investigation.
The Economic and Financial Crimes Commission (EFCC) has announced the recovery of funds related to the CryptoBank Exchange (CBEX) fraud. EFCC Chairman Ola Olukoyede confirmed the development on Television Continental (TVC), stating that arrests have been made and the investigation is ongoing.
CBEX, a digital investment platform, collapsed after promising investors a 100% return on investment within 30 days, resulting in losses estimated at N1.3 trillion for thousands of Nigerians.
Olukoyede stated that the EFCC is actively pursuing individuals still at large and has made significant progress in the investigation. Further details are being withheld to avoid disrupting the process.