Nigeria's cryptocurrency exchange CBEX's new withdrawal plan suspected of fraud questioned

According to Bitcoin.com, the struggling Nigerian cryptocurrency exchange Crypto Bridge Exchange (CBEX) recently announced the launch of new withdrawal options in hopes of restoring investor confidence. According to sources, the company announced this news after facing rumors of bankruptcy. According to the new regulations, investors holding funds not exceeding $1000 on the platform must pay a fee of $100 in order to withdraw 50% of their initial funds, which are expected to be disbursed on June 20, 2025. CBEX is accused of misappropriating funds from over 600000 Nigerian users, leading the Nigerian SEC to declare the platform illegal. Despite the introduction of new withdrawal options, some users still have doubts about the true situation of the company, believing that this activation fee may be a potential scam to defraud more Nigerians of their money.