Ibadan-based Fuji musician Taye Adebisi, popularly known as Taye Currency, has lamented losing over N10 million to a failed Ponzi scheme known as Crypto Bridge Exchange (CBEX).
In a viral video captured during a live performance, the 50-year-old narrated how he and several members of his crew were lured into the investment by close associates.
“You will hear how CBEX took away over N20 million from me and people close to me,” he said.
According to the singer, he was introduced to the scheme by four of his trusted associates: Sodiq, Small London, Lateef and one other.
He explained that it was the testimonies of early profits from his boys that pushed him to invest.
“On April 1, Sodiq came to my house and said Lateef, the brand manager, had collected some money and also introduced Alaba and one other brother to it,” he said.
“Alaba even used N1.2 million he stole from the stage to invest. Brother Muca also put in his work fee — N500,000. Lateef invested N1.4 million.”
Taye added that Lateef claimed to have made quick returns from the platform.
“Lateef said he used N200,000 to collect N600,000. That was what pushed me. I withdrew the money I had saved with insurance and invested it on April 1, but everything vanished.”
Visibly aggrieved, he cursed those who introduced him to CBEX.
“If they die well, they won’t rest well,” he said.
CBEX reportedly promised investors double their returns within 30 days.
However, by April 2025, the platform crashed, leaving an estimated 300,000 Nigerians with losses amounting to over N1.3 trillion.
The Securities and Exchange Commission (SEC) has since clarified that CBEX was never registered with the commission.
Meanwhile, the Economic and Financial Crimes Commission (EFCC) has launched an investigation into the scandal.
