Panic broke out in Ibadan on Monday when a group of aggrieved investors stormed the China Beijing Equity Exchange (CBEX) office in the Oke Ado area, following reports that the digital trading platform had suddenly crashed.
According to eyewitnesses, the mob forcefully entered the office premises, making away with furniture, electronics, and other valuable items during the chaos.
The unrest was reportedly sparked by the abrupt shutdown of the CBEX platform, which allegedly wiped out users’ account balances and left many investors in distress.
Footage circulating on social media captures the chaotic scene, showing a large crowd breaking into the building and removing property.
Many affected individuals have since taken to social media to express outrage over their losses, accusing CBEX of fraudulent activity and calling for accountability.
At the time of this report, no official statement has been released by authorities, and it is still unknown whether any arrests have been made in connection with the looting.
CBEX had been marketed as a digital asset trading platform aimed at offering a secure and transparent environment for users. However, its credibility is now under serious scrutiny amid rising accusations of fraud and unethical practices.
In response, the Securities and Exchange Commission (SEC) has issued a warning, stating that any platform operating without proper registration—such as CBEX—is considered illegal under regulatory laws.
