Following reports of the return of Crypto Bridge Exchange (CBEX), the Securities and Exchange Commission (SEC) has warned Nigerians against transacting with the platform, describing it as an illegal operator.
In a statement on Wednesday, June 11, 2025, the commission noted that the platform remained banned in Nigeria,
The SEC also alerted the investing public that CBEX also operates under the name ‘ST Technologies International Ltd’ — also known as Smart Treasure or Super Technology.
Ripples Nigeria reports that CBEX crashed on Monday, April 15, 2025 and allegedly swept over N1.3 trillion from investors’ accounts after promising investors a 100 per cent return on investment.
The development threw millions of Nigerians who lost varying amounts of money into despair.
In a shocking development, social media was agog yesterday that the platform has staged a return, asking affected investors to pay fresh $200 for subscribers with balances above $1,000, and $100 for those with less than $1000 balances before withdrawals can be processed.
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Reacting to this latest development, SEC warned that; “The attention of the Securities and Exchange Commission (The Commission) has been drawn to media reports indicating that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, has resumed operations across Nigeria.
“According to the reports, CBEX promoters are demanding $200 from their subscribers with balances above $1,000, and $100 from those with less than $1000 balances before withdrawals can be processed.
“The Commission hereby restate unequivocally that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the Commission or authorized to offer investment related services to the Nigerian public.
“As a matter of fact, enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities and the Commission is collaborating with relevant Law Enforcement Agencies to properly investigate CBEX/ST Technologies International Ltd and will take appropriate actions in line with the provisions of the Investments and Securities Act 2025.
“The Nigerian public is accordingly advised to refrain from patronising or transacting with CBEX /ST Technologies International Ltd (Smart Treasure or Super Technology) as they risk losing their funds.
“The public is advised to verify the registration status of Investment platforms via the Commission’s dedicated portal: www.sec.gov.ng/cmos before transacting. The Commission remains committed to protecting investors and maintaining market integrity,” it stated.
By: Babajide Okeowo
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