US-Based Nigerian Man Cries out Online as Another Alleged Trading Platform Reportedly Crashes
- A Nigerian man living in the United States has lamented the alleged collapse of a supposed trading and investment platform, days after CBEX crashed
- The Nigerian in the diaspora expressed sadness, saying he was supposed to withdraw from the platform on the 29th
- Moreblessing Ogbogo, a web3 analyst, shared with Legit.ng how platforms like CBEX and PCEX exploit Defi tools
Days after the crash of CBEX, a US-based Nigerian man has raised an alarm over the alleged crash of another supposed trading and investment platform, rumoured to be a Ponzi scheme.
The distraught man shared a short video on TikTok where he looked downcast in a car.
Source: TikTok
On the video, the man wrote that he was a fool to have trusted the PCEX platform, lamenting that he is now in a serious loss.
According to the man, he was supposed to withdraw his funds on the 29th of this month. He wrote:
"I am fool to trust PCEX, I am in serious loss, I am suppose to withdraw by 29th of this month. I have lost a lot."
Source: TikTok
His video went viral, with other people like him who invested in PCEX lamenting in the comment section.
Some PCEX investors said they can't withdraw their funds, sparking fears that the platform has collapsed.
Another TikTok user, @osgadgets1, expressed worry about the platform and shared a screenshot from a Telegram channel, while claiming that PCEX investors were told to hold on till January 1, 2026, before they can access their funds.
How platforms like CBEX exploit Defi tools
In an exclusive chat with Legit.ng, Moreblessing Ogbogo, a web3 analyst, highlighted how platforms like CBEX and PCEX exploit Defi tools. He said they exploit Defi tools with:
"Promise of high returns: CBEX lured investors with unrealistic profit guarantees, such as 100% returns within 30 days.
"Lack of transparency: The scheme operated outside regulatory oversight, using buzzwords like "AI" and "blockchain" to appear credible.
"Social proof: Early investors received initial payouts, and public endorsements created a bandwagon effect that attracted more participants.
"Fear of Missing Out (FOMO): Aggressive marketing and enticing referral bonuses pressured users to act quickly, fearing they might miss out on big gains."
View his post below:
Netizens react to PCEX alleged crash
Miss K said:
"Don't worry you will withdraw January 2026."
attamomand said:
"Yes they crash and we have no way to complained."
AYOOLAMI FUNMILAYO ❣️❣️❣️❣️❣️ said:
"Me self out my pos business money for cbex ooo😭.I don't know where to start nw."
Bosah fams yall❤️❤️ said:
"Pcex cbex na the same thing tuink am first like almost the same pronunciation and now they are both crashing on the same week."
ᥫ᭡Yoongi’s ᥫ᭡ said:
"Me too.. My money is frozen in pcex 😭😭😭 i was about to make my withdrawal on the 29th also but prof said it will resume on January 1,2026.. 😭😭😭😭"
franca said:
"I told myself that I’m dreaming and my waking up will be on the 1st January 2026 make pcex no pay me my 2k$."
Johnbelove said:
"I have more than 4k$ in wwcoin,pcex 2k$,cbex1k$ I loose all of them at the same time time but I still trust on God."
Man shares how CBEX mistakenly exposed itself
Meanwhile, Legit.ng previously reported that a man had claimed that the CBEX Ponzi scheme mistakenly exposed itself and shared how.
He narrated how a content creator made a video sharing his fears about CBEX, with the investment platform sharing the clip on the community tab and threatening to drag him to court, exposing their illegality in the process. His statement in part read:
"...This simply means that this platform, all this while, have been operating illegally. They just exposed themselves right now. They have been operating illegally because they don't have the certifications to basically operate right now..."
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Source: Legit.ng
