Popular Fuji musician Alhaji Taye Adebisi, widely known as Taye Currency, recently shared his experience of losing N10 million in CBEX, a Ponzi scheme linked to Crypto Bridge Exchange. In a viral video that quickly gained attention on social media, Taye Currency opened up about his unfortunate investment journey during a stage performance.
The musician explained that he was introduced to the scheme by some of his associates earlier in April. He revealed that these individuals, who had already made money from CBEX before its downfall, persuaded him to join. One of the individuals, Sodiq, visited his house on April 1 and told him about the profits made by Lateef, the brand manager, as well as Alaba and Small London, who had all reportedly earned from their investments.
Taye Currency recounted that Alaba invested N1.2 million, money he reportedly took from his stage earnings, while Brother Muca put in N500,000. Sodiq, on the other hand, invested N850,000, which he had saved up from the band’s activities. Lateef had also invested N1.4 million in CBEX, with a return of N600,000 after starting with just N200,000. Encouraged by the success of his associates, Taye Currency was convinced to invest N10 million, withdrawing money he had saved with an insurance company.
However, his N10 million investment soon vanished when CBEX collapsed, leaving him devastated. The musician expressed deep regret over the decision, especially cursing those who had introduced him to the scheme, vowing that they would not rest well for causing him such a loss.
This loss comes after the abrupt collapse of CBEX, which has defrauded many Nigerians out of over N1.3 trillion. The platform, which had promised high returns through digital investment options, left its users in turmoil as they experienced continuous withdrawal failures, making the platform inaccessible.
