Cryptocurrency can change lives—but it can also wreck wallets.
For every legit investor making moves, there are thousands getting duped by scammers dressing up Ponzi schemes as Bitcoin opportunities.
And it’s not just the “uncles on WhatsApp” falling for it. It’s smart, digital-savvy people too.
One of the latest traps? Platforms that claim to do “automated coin trading using AI.” Sounds fancy. But many of them are just glorified Ponzi schemes hiding behind buzzwords.
Let’s break it all down—so you don’t become their next victim.
⚠️ The CBEX Crypto Scam (April 2025)
Just days ago, a trading platform called CBEX (CryptoBank Exchange) went viral for the worst reason: it collapsed after milking users across Nigeria and Kenya.
Here’s how it went down:
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Promised users 100% ROI in 30 days through “automated crypto arbitrage trading”
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Required referrals to “unlock bigger profits” (classic Ponzi move)
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Had a flashy dashboard showing fake earnings
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Abruptly blocked withdrawals, locked accounts, and started asking for “re-verification fees”
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Then—poof—disappeared.
Some users lost ₦500K. Some lost over ₦3M. For many, it was their life savings.
The CBEX app has since vanished from app stores and social media. And the people behind it? Still unknown.
🧠 What is Crypto Coin Trading (When It’s Legit)?
Crypto trading is the act of buying and selling cryptocurrencies like Bitcoin, Ethereum, Solana, etc., to make a profit.
It can involve:
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Spot trading (buy low, sell high)
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Futures trading (betting on price movements)
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Arbitrage (buying on one exchange and selling on another for a small gain)
When done by experienced traders, it’s legit—but very risky.
Some apps (like Binance, KuCoin, or Coinbase) offer real crypto trading. But others? Just use the idea of trading to trick people.
🤖 “AI Trading” Scams: Modern Ponzi Disguises
This is the new trick in town.
These platforms promise:
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“Fully automated AI-driven crypto trading bots”
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“24/7 profit generation with zero risk”
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“Sit back, let the AI trade, and cash out weekly”
Let’s be real. No real AI guarantees daily profits in crypto. The market is way too volatile. And the people using these phrases rarely show actual trades.
Common Tactics:
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Fake dashboards with simulated profits
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Random charts to look like “AI analysis”
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Referral-based reward systems
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VIP tiers that require upfront payment
By the time you realize it’s fake, the owners have bounced—and so has your money.
🚩 Red Flags to Watch Out For
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Guaranteed Daily or Weekly Profits
Crypto doesn’t work like that. Even pros lose money. -
No Real-Time Trading History
If you can’t see live trades or actual positions—run. -
Referral Bonuses That Seem Too Sweet
“Earn ₦5K per referral!” = classic Ponzi fuel. -
Lack of Documentation or Team Transparency
If the website has no real names, addresses, or licenses—you’re dealing with ghosts. -
Emotionally Charged Pitches
“If you don’t invest now, you’ll miss the train!” = 🚩🚩🚩
✅ How to Protect Yourself (and Others)
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Use regulated exchanges like Binance, Coinbase, Luno, or Kraken.
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Don’t trust WhatsApp “crypto kings” selling dreams.
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Google the platform and check for reviews or scam alerts.
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Always test withdrawals before depositing serious money.
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Share this info with your friends and family—it could save someone.
💡 Final Thoughts
Cryptocurrency is powerful—but it attracts both builders and bloodsuckers.
The CBEX scam won’t be the last. The next one? Might look even cleaner.
So before you drop money into a platform:
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Ask questions
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Check receipts
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Look for licensed partners
And remember: If it sounds too good to be true, it’s probably not Bitcoin—it’s just bamboozlement.
💬 Share your thoughts
Have you (or someone you know) been duped by a crypto Ponzi? Got tips others should hear?
Drop a comment below. Tag us @fleekng. Let’s educate, expose, and empower—because knowledge is the real asset here. 🧠💸
