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Fuji musician, Alhaji Taye Adebisi, popularly known as Taye Currency, has recounted how he lost N10 million to an alleged Ponzi scheme operated by Crypto Bridge Exchange, popularly called CBEX.
In a viral video circulating on social media, the singer recounted the ordeal during a stage performance.
He disclosed that he was introduced to the scheme by some of his close associates.
The fuji star said, “On April 1, Sodiq came to my house and said Lateef, the brand manager, had collected some money and also introduced Alaba and Small London had also collected their money, and Brother Muca
“Alaba used N1.2 million he stole from the stage to invest in CBEX. Brother Muca also put in his work fee of N500,000. Sodiq used the money he was saving in the band, N850,000. Lateef invested N1.4 million.”
The singer revealed that it was the success of his associates in the scheme that made him invest in it too.
“Lateef said he used N200k to collect N600k, and I got motivated. I withdrew the money I had saved with insurance, see my life in the open. I invested N10m in CBEX on April 1, but everything vanished,” he lamented.
In the footage, a visibly upset Currency lashed out at those who introduced the scheme to him, saying: “If they die well, they won’t rest well, because I was on my own before you took me to CBEX.”
Currency’s recent lamentation comes amid growing outrage over the collapse of CBEX, which has reportedly defrauded numerous Nigerians who were lured by promises of high returns through digital investment offerings.
PUNCH Online reports that the digital investment platform CBEX collapsed, with reports indicating losses amounting to over N1.3 trillion incurred by investors.
The platform became inaccessible after users experienced persistent withdrawal failures, followed by sudden account balance wipes.
The incident has sparked widespread reactions, particularly on social media, where users have expressed frustration, criticism, and concern over the situation.
Reacting to the incident, the Securities and Exchange Commission stated that CBEX is not registered to operate as a digital assets exchange in Nigeria and warned the investing public against transacting with the platform.
