Drama as Lady Creates Scene on Road, Blocks Car Which Has CBEX Logo, Video Generates Buzz Online

• A video of a lady obstructing a vehicle with the logo of the crashed CBEX investment platform has gone viral
• A female TikTok user posted the video online and funnily noted that the lady refused to let CBEX go
• In an exclusive chat with Legit.ng, Moreblessing Ogbogo, a web3 analyst, highlighted the implications of CBEX collapse on the Nigerian web3 ecosystem

Mixed reactions have trailed a viral video of a lady standing before a car, which has a CBEX logo.

CBEX is a digital investment platform that recently crashed, trapping the funds of thousands of its investors and leaving people in tears.

Since its crash, CBEX has been on the lips of many people and a hot topic on social media, with many of its investors decrying the amounts they lost to the platform.

A UK-based Nigerian lady who wanted to set up an African store was also one of the victims of the failed investment platform, now believed to be a Ponzi scheme.

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Man tells people to quickly delete CBEX app from their phones, shares danger of having it

A TikTok user, @say__hey__to__addi8, got people talking after releasing a short video of a dramatic moment involving a lady and a car with a CBEX logo.

"Omoh.

"This girl no gree let CBEX go," the TikTok user funnily remarked.

She further jocularly begged that CBEX return the lady's money.

In the clip, the lady, in an off-shoulder dress, stood briefly before the car, muttered something and then left the scene.

Implications of CBEX on Nigerian web3 ecosystem

Moreblessing Ogbogo, a web3 analyst, shared with Legit.ng the implications of the CBEX crash on the Nigerian web3 ecosystem. He noted that it has led to:

"Loss of Trust: The collapse of CBEX, a Ponzi scheme that defrauded thousands of Nigerians of billions of naira, is expected to severely damage public confidence in legitimate cryptocurrency platforms and other digital investment ventures. This could slow down the adoption of blockchain technology in Nigeria.

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Legit.ng dissociates self from another deceptive Ponzi scheme targeting Nigerians

"Financial Devastation: Estimated losses range from $12 million to $800 million. Some reports claim that as much as ₦1.3 trillion was lost, affecting more than 600,000 Nigerians.

"Regulatory Scrutiny: The Securities and Exchange Commission (SEC) has renewed warnings about unregistered investment platforms and stressed the urgent need for tighter regulatory oversight..."

On the long-term implications of the crash, he stated that it has led to:

"Increased Regulation: The CBEX scandal may prompt more stringent regulations on unlicensed digital platforms. While this might protect investors, it could also hamper innovation in the tech-finance space.

"Financial Education: The incident highlights a growing need for improved financial literacy to help Nigerians identify and avoid fraudulent schemes.

"Cautious DeFi Adoption: Investors may approach decentralised finance (DeFi) tools more cautiously, favouring transparency and regulatory compliance."

Watch the video below:

Woman's action sparks mixed reactions

Abefe Richie❤️🌚 said:

"Imagine opay, PalmPay,monie point and kuda did the same like CBEX."

Read also

CBEX: 5 Key things to know about Ponzi scheme that recently crashed and defrauded Nigerians

Pablo venza said:

"Werey and you dey they you never collect the car from his hand."

Abel said:

"Na to call army if I see their motor."

Fhakru baba lalawo said:

"She no get stone to check the glass she just dey play jaree."

👿 ÃRIES 👿🫥 said:

"Na 3 things save me from this Cbex 😂 1.experience 2.lack of fund 3. Trust issues."

Abdul Quadri🦋 said:

"Naso una hide update sotey I no know weytin be CBEX until e cast."

Insp.Shortie said:

"You are smarter than the smartest."

⚡️tochijbc📊FX said:

"Wetin be CBEX na biscuit 🤲?"

In a related story, Legit.ng reported about three popular Ponzi schemes that defrauded many Nigerians of millions of naira and left people in tears.

Lady shares observed secret behind CBEX

Meanwhile, Legit.ng previously reported that a Nigerian lady had shared things she observed about CBEX and how it was able to pay its early investors.

Read also

Nigerian govt sends notable message to all CBEX 'investors', “to put your hard-earned money"

On how CBEX gained people's trust, the lady said that they did it by building their confidence slowly through payouts, referral bonuses and a strong customer support system, adding that they made withdrawals quick at the beginning. She opined that most CBEX staff didn't know what happened behind the scenes until its eventual crash.

"How did they gain people's trust? They built their confidence slowly, they were paying people small small, they offered referral bonuses so that other people can join, they made their customer support to be very strong that they respond to people's complaints immediately and they also made their withdrawals to be quick as at the beginning," she said.

Source: Legit.ng