CryptoBridge Exchange (CBEX), a fraudulent cryptocurrency investment scheme, has left thousands of investors in Kenya and Nigeria reeling, with losses amounting to millions of dollars. The scheme, which collapsed in April, operated as a sophisticated Ponzi scheme, luring victims with promises of guaranteed monthly returns via AI-powered trading systems and lucrative referral bonuses, classic hallmarks of such scams.

Victims like Edwin, a Kenyan government worker, lost approximately $16,000, primarily from a bank loan, after being drawn in by CBEX's promises on Telegram. Abby, another Kenyan investor, carries the burden of having introduced 25 family members and friends to the platform, all of whom lost their investments. In Nigeria, Adeoye lost about $450, noting the