Popular Fuji musician, Alhaji Taye Adebisi, widely recognized as Taye Currency, has shared his painful experience of losing N10 million to a suspected Ponzi scheme run by a platform known as Crypto Bridge Exchange (CBEX).
In a video that has gone viral on social media, the singer narrated his experience during a live stage performance. He explained that he was introduced to the investment opportunity by several close associates, which ultimately led to his financial loss.
“On April 1, Sodiq came to my house and mentioned that Lateef, the brand manager, had already invested and made profits. Alaba and Small London had also received returns, and Brother Muca was involved too,” he said.
Taye further disclosed that Alaba invested N1.2 million, allegedly taken from performance earnings, while Brother Muca contributed N500,000 from his wages. Sodiq put in N850,000 from his band savings, and Lateef invested N1.4 million. The success stories from these individuals, according to Taye, encouraged him to join the scheme.
“Lateef told me he turned N200,000 into N600,000. That inspired me. I withdrew the money I had saved through insurance and put N10 million into CBEX on April 1. But everything disappeared,” he lamented.
Clearly distressed in the video, Taye expressed anger towards those who persuaded him to invest. “If they die peacefully, they won’t rest peacefully. I was minding my business until you dragged me into CBEX,” he said.
His account adds to the growing uproar surrounding CBEX, a platform that reportedly scammed thousands of Nigerians through false promises of massive returns on digital investments.
According to Drivetvnews, CBEX has allegedly collapsed, resulting in investor losses estimated at over N1.3 trillion. The platform became inaccessible following persistent withdrawal failures and sudden disappearance of user funds.
The development has triggered outrage on social media, with many victims voicing anger and demanding accountability.
In response, Nigeria’s Securities and Exchange Commission clarified that CBEX is not a licensed digital asset exchange and cautioned the public against engaging with unregistered investment platforms.
