Nigeria’s anti-graft agency shares PHOTOs of four Kenyans wanted over Ksh108 billion CBEX crypto scam!



Wednesday, April 30, 2025 - Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has named four Kenyan nationals as prime suspects in a massive online fraud linked to the now-defunct Crypto Bridge Exchange (CBEX).

In a public notice, the EFCC identified three Kenyan men and one woman as foreign accomplices in the scam that defrauded investors in Nigeria, Kenya, and Egypt of more than $840 million (approximately Ksh108 billion).

“The public is hereby notified that the persons whose photographs appear below are suspected foreign accomplices wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exchange (CBEX),” the statement read.

The platform had presented itself as a legitimate cryptocurrency investment venture but was later exposed as a ponzi scheme.

Such schemes use funds from new investors to pay earlier ones, rather than generating genuine returns, and typically collapse once new investments dry up.

The agency has vowed to pursue justice for the many victims affected by one of the region’s largest crypto-related frauds.

The Kenyan DAILY POST

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