Nigeria’s Securities and Exchange Commission (SEC) has raised a fresh alert over the sudden reappearance of Crypto Bridge Exchange (CBEX), urging the public to avoid any dealings with the platform or its affiliate, ST Technologies International Ltd—also known as Smart Treasure or Super Technology.
This urgent warning follows reports that CBEX, previously shut down after an abrupt collapse just two months ago, has resumed operations and is actively requesting withdrawals from investors. The regulatory body has flagged this as a significant red flag, indicating potentially deceptive practices.
SEC Sounds the Alarm on CBEX Activities
CBEX’s unexpected return to Nigeria’s crypto market has stirred widespread concern. Its previous shutdown, which left many investors stranded without access to their funds, remains unexplained. Now, with the platform back in operation, the SEC is reinforcing its stance: investors should exercise extreme caution.
According to the Commission, any engagement with CBEX or entities operating under ST Technologies International Ltd poses serious financial risk. The warning comes amid a rising wave of cryptocurrency-related frauds in Nigeria, where unsuspecting investors are frequently targeted by unregistered or rogue operators.
Why the CBEX Warning Matters
The SEC’s latest advisory highlights a broader issue within Nigeria’s rapidly expanding digital finance ecosystem—lack of investor awareness and the growing presence of fraudulent crypto platforms. CBEX’s re-emergence, despite prior collapse and ongoing regulatory concerns, reflects the challenges regulators face in protecting investors in a decentralized and often opaque market.
By calling out CBEX, the SEC is reaffirming its commitment to ensuring a transparent and secure crypto environment. The agency’s alert urges investors to verify the legitimacy of platforms before committing funds, especially those with a history of suspicious activity.
Growing Crypto Adoption, Rising Risk
Nigeria remains one of Africa’s most active crypto markets. As adoption accelerates, so too does the risk of exploitation. Scams masquerading as legitimate platforms have become increasingly common, with many investors losing substantial amounts to schemes that collapse without warning—often leaving no trail or accountability.
The SEC has reiterated its focus on investor protection through regulatory oversight, licensing, and public awareness campaigns. The CBEX situation underscores the need for rigorous due diligence by investors and greater enforcement actions by regulatory bodies.
Stay Vigilant in Nigeria’s Crypto Landscape
The caution from the SEC serves as a critical reminder: legitimacy in the crypto world is not guaranteed by appearances or popularity. Any investment decision should be preceded by thorough research, especially in a sector where financial losses are often irreversible.
Nigerians are encouraged to consult the SEC’s official portal for a list of registered and approved crypto platforms. Avoiding unregulated operators like CBEX could mean the difference between financial growth and irreversible loss.