Enraged “investors” loot Ibadan office of suspected Ponzi scheme CBEX (video)

A group of aggrieved investors stormed the office of CBEX, a digital trading platform, in the Oke Ado area of Ibadan, Oyo State, following the reported collapse of the platform which left many users with empty account balances. The situation escalated into chaos as the mob forced their way into the premises, looting furniture and office equipment in a show of anger and frustration.

Eyewitness videos circulating online captured the tense scene, showing a large crowd gathered outside the CBEX office and individuals removing items from the building. The incident has been linked to widespread financial losses among users who had invested heavily in the platform, only to find their accounts wiped clean.

Affected users took to social media to express their grief and outrage, sharing personal stories of lost savings and dashed hopes. Despite the growing public outcry, authorities have not released an official statement nor confirmed any arrests related to the incident.

The collapse of CBEX has sparked serious concerns about its operational model, with emerging allegations of fraud and deceptive practices. Although it was marketed as a secure and transparent digital asset trading platform, the sudden loss of funds experienced by users has led to increased scrutiny. As tensions remain high, investors continue to demand accountability and answers over what many now describe as a devastating financial blow.

Watch a video from the scene below…