Popular Fuji musician, Alhaji Taye Adebisi, widely known as Taye Currency, has revealed how he lost a staggering N10 million to a suspected Ponzi scheme operated by Crypto Bridge Exchange (CBEX).
In a viral video currently making rounds on social media, the singer emotionally recounted the ordeal during a live stage performance, narrating how trusted associates lured him into the ill-fated investment.
“On April 1, Sodiq came to my house and said Lateef, the brand manager, had collected some money. He also mentioned that Alaba and Small London had collected their own money, and Brother Muca too,” Currency recalled.
He further detailed how each of his friends had invested in the scheme, citing examples: “Alaba used N1.2 million he stole from the stage to invest in CBEX. Brother Muca invested his N500,000 work fee. Sodiq put in N850,000 from the band’s savings, and Lateef staked N1.4 million.”
Encouraged by their initial gains, Currency said he decided to stake his own savings. “Lateef said he used N200,000 to get N600,000, and I got motivated. I withdrew the money I had saved with insurance—see my life in the open. I invested N10 million in CBEX on April 1, and everything vanished.”
Visibly distraught in the footage, the Fuji icon lashed out at those who introduced him to the scheme. “If they die well, they won’t rest well, because I was on my own before you took me to CBEX,” he said bitterly.
Currency’s revelation comes amid widespread outrage over the collapse of CBEX, which is said to have defrauded countless Nigerians with promises of high returns through digital asset investments. Reports indicate that total losses from the platform could exceed N1.3 trillion.
Users had initially faced persistent withdrawal issues before the platform went completely offline, with account balances suddenly wiped out—leaving investors devastated.
Reacting to the incident, the Securities and Exchange Commission (SEC) stated that CBEX is not registered to operate as a digital assets exchange in Nigeria. The commission also reiterated warnings to the public about investing in unregistered platforms.
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