The recent collapse of digital asset trading platform CBEX has reignited urgent calls for stricter government regulation and enforcement.
The platform’s sudden crash, which left investors unable to access their funds, has caused financial losses exceeding N2.4 billion and drawn attention to the critical gaps in Nigeria’s regulatory framework for digital investments.
Concerns about CBEX’s operations first surfaced on social media last Friday, as users reported difficulties withdrawing their funds. By Monday, the platform had completely collapsed, with investors’ account balances wiped to zero.