Taye Currency, the Nigerian Fuji singer, has revealed that he lost N10 million invested in CBEX, a troubled cryptocurrency trading platform that recently collapsed, leaving many investors stranded.
In a now-trending video, the Fuji star said he was introduced to the scheme by four employees who had reportedly earned returns from the platform.
Currency said he was motivated by their testimonies and invested his savings on April 1, only for the platform to crash shortly after.
“You will hear it today. Because if I do not say it. I put money in CBEX. I can not keep it to myself. If it were possible, I would have,” he said.
“On April 1, Sodiq came to my house and said Lateef, the brand manager, had collected some money and also introduced Alaba and Small London, who had also collected their money, and Brother Muca.
“Alaba used N1.2 million he stole from the stage to invest in CBEX. Brother Muca also put in his work fee of N500,000. Sodiq used the money he was saving in the band, N850,000. Lateef invested N1.4 million.
“It would have been good if they had not introduced me to it. Lateef said he used N200k to collect N600k, and I got motivated. I withdrew the money I had saved with insurance, see my life in the open. On April 1st, I invested 10 million into CBEX and it vanished.”
Last weekend, reports emerged that CBEX users could no longer withdraw their funds. On Monday, angry investors stormed and looted the office of Smart Treasure (ST Team), an affiliate of CBEX, in Ibadan, Oyo State.
The Economic and Financial Crimes Commission (EFCC) recently confirmed receiving multiple complaints about the platform.
Dele Oyewale, the commission spokesperson, assured affected investors that efforts were underway to recover their funds.
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