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Thousands of Nigerian investors have been severely impacted by the CBEX Ponzi cryptocurrency scam, with the amount involved potentially reaching tens of millions of dollars

ChainCatcher news, according to CryptoSlate, the Nigerian digital asset trading platform CBEX has been exposed as a Ponzi scheme, causing significant financial losses for many investors. Although local media initially reported losses as high as 1.3 trillion naira (approximately 800 million USD), analysis indicates that the address is actually a Binance hot wallet, and the real loss amount may be closer to 12 million USD.CBEX claims to be the "China Beijing Equity Exchange," but it has no connection to the officially named institution in China. The platform, under the guise of AI quantitative strategies, promises to double returns in 30 days, attracting a large number of investors and requiring them to recruit others for commissions, essentially operating as a typical Ponzi structure. The project was even promoted in Nigerian national media as a "poverty alleviation program," further misleading users.By April 2025, CBEX suddenly froze accounts, preventing users from withdrawing funds, which sparked public outrage. Some investors besieged its offices in Ibadan and Lagos, and many victims shared their loss experiences on social media.Independent analyst Specter pointed out that CBEX is linked to other similar scams, LWEX and PCEX, suspected of sharing website architecture and funding flow patterns. The related wallets are also connected to the Southeast Asian payment system Huione Pay, which has been listed by Elliptic as one of the main hubs for money laundering and telecom fraud, involving over 24 billion USD in suspicious transactions.

Dubai Financial Services Authority launches tokenization regulatory sandbox

According to ChainCatcher news, as reported by Cryptoslate, the Dubai Financial Services Authority (DFSA) has announced an invitation for companies to apply to join its tokenization regulatory sandbox, with the application deadline set for April 24, 2025. The DFSA is an independent authority responsible for regulating the Dubai International Financial Centre (DIFC). In an announcement on March 17, the DFSA stated that the sandbox program aims to attract companies looking to offer tokenized investment products and services. The sandbox provides a controlled environment for businesses to test tokenized financial solutions under the supervision of regulators.The DFSA explicitly stated that eligible services include tokenized stocks, bonds, sukuk, and collective investment fund units. Both existing firms that are already authorized by the DFSA and wish to expand their tokenization business, as well as eligible new applicants, can submit applications. After submitting an application, businesses will enter the assessment process. Successful applicants will receive structured testing opportunities within the sandbox and tailored regulatory guidance. The DFSA emphasized that only companies with strong business models and solid compliance capabilities will be selected. This sandbox program is part of the DFSA's broader innovation testing license initiative, aimed at helping businesses refine financial products and prepare for full authorization.
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