The Securities and Exchange Commission (SEC) of Nigeria has issued a warning against Crypto Bridge Exchange (CBEX), also known as ST Technologies International Ltd and Smart Treasure/Super Technology, for operating without registration and engaging in unauthorized investment solicitation. CBEX is accused of offering unrealistic returns—promising 100% ROI in 30 days—and using deceptive tactics, such as falsified withdrawal records, to lure investors. The platform has reportedly failed to honor withdrawal requests and has shut down its offices amid rising complaints.
In response, the SEC has invoked the newly enacted Investments and Securities Act 2025, empowering it to take enforcement actions and prosecute CBEX’s promoters in collaboration with law enforcement agencies. SEC Director-General Emomotimi Agama reaffirmed the commission’s commitment to investor protection and warned against investing in unregistered digital platforms. The government also expressed sympathy for victims, including public figures, and urged collective efforts to curb Ponzi schemes in Nigeria.
