The Securities and Exchange Commission (SEC) has issued a fresh public warning against Crypto Bridge Exchange (CBEX), cautioning Nigerian investors to avoid any dealings with the unregistered digital trading platform.
The regulator stated that CBEX, operating under the name ST Technologies International Ltd, also known as Smart Treasure or Super Technology, remains banned in Nigeria and has no legal standing to offer investment services.
This follows recent reports indicating that CBEX had resumed operations across the country, granting users renewed access to their accounts after an abrupt shutdown in April that reportedly trapped investors’ funds exceeding N1 trillion.
In a public notice released on Wednesday, the SEC reiterated that CBEX and its promoters are not authorised to conduct any capital market-related activity in Nigeria.
The Commission emphasized that it had earlier commenced enforcement action against the platform and is working in collaboration with relevant law enforcement agencies to investigate the promoters of the scheme.
“The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, has resumed operations across Nigeria,” the notice read.
According to the SEC, CBEX promoters are allegedly requesting $200 from subscribers with balances above $1,000 and $100 from those with balances below $1,000 before allowing withdrawals.
The Commission described this demand as an indicator of an unregulated and potentially fraudulent practice.
It further stressed: “The Commission states unequivocally that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the Commission or authorised to offer investment-related services to the Nigerian public.”
The SEC disclosed that it has initiated enforcement actions following previous infractions and assured the investing public that it remains committed to protecting investors and preserving the integrity of Nigeria’s capital market.
The Commission also warned that individuals who continue to engage with CBEX do so at the risk of losing their funds.
In its advisory, the SEC urged investors to verify the registration status of any investment platform via its official portal before transacting. It reiterated that all capital market operators must be registered and regulated in accordance with the provisions of the Investments and Securities Act, 2025.
As part of broader investor protection efforts, the SEC said it will continue to collaborate with law enforcement agencies to clamp down on illegal investment schemes that threaten financial stability and public trust.
CBEX first came under regulatory scrutiny earlier in the year when its sudden shutdown left thousands of Nigerian investors stranded.
Despite regulatory actions and public awareness campaigns, fraudulent investment platforms continue to pose significant risks to the investing public.
The Commission’s latest warning serves as a reminder of the dangers of unregulated digital financial platforms operating outside the boundaries of Nigerian capital market laws.
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