CBEX Ibadan Office Looted Following Trading Platform Shutdown

A group of allegedly irate investors stormed the China Beijing Equity Exchange (CBEX) office in the Oke Ado neighbourhood on Monday after the digital trading platform reportedly crashed, causing chaos in Ibadan.

Eyewitnesses report that an angry mob stormed the CBEX office, ransacking the premises and making away with furniture, electronics, and other valuables.

The chaos was reportedly sparked by the abrupt collapse of the CBEX trading platform, which allegedly erased user account balances and left countless investors in shock and financial ruin.

Footage circulating on social media captures the moment the crowd forced their way into the building, removing items in the midst of the unrest.

Many affected users have taken to social media to express their outrage, sharing stories of their losses and accusing the platform of fraudulent activity. Calls for accountability and justice continue to grow online.

As of this report, authorities have yet to release an official statement, and it remains unclear whether any arrests have been made in connection with the looting.

CBEX, originally launched as a digital asset trading platform, claimed to offer a secure and transparent environment for users. However, its operations are now under intense scrutiny amid rising allegations of fraud and misleading practices.

In response, the Securities and Exchange Commission (SEC) has issued a warning, stating that platforms like CBEX that operate without registration are deemed illegal under existing regulations.