Nigerian court green lights arrest for six CBEX promoters — Report
A Nigerian high court has authorized the Economic and Financial Crimes Commission (EFCC) to arrest six individuals linked to investment fraud at the Crypto Bridge Exchange (CBEX). The suspects allegedly defrauded investors of 1 billion naira (approximately $620,000) through misleading advertisements promoting CBEX. At the time of the report, the suspects had not yet been arrested. In April, CBEX users reported being unable to withdraw funds, leading to public outrage and violent protests at the exchange's office in Ibadan. Additionally, Nigerian authorities are pursuing a tax evasion case against Binance, which involves a detained US citizen, Tigran Gambaryan, who faced charges of tax evasion and money laundering before being released to US custody after eight months. The case against Binance is ongoing despite the exchange lacking a physical office in Nigeria.
