Nigeria’s Economic and Financial Crimes Commission (EFCC) declared eight individuals among them four Kenyans wanted in connection with an alleged multi-million naira fraud involving the Crypto Bridge Exchange (CBEX), a digital trading platform.
The watchdog published a list of eight wanted persons, including the Kenyans, in connection with a breach on the CBEX platform which saw the accounts of sections of users in Kenya, Nigeria, and Egypt wiped out about two weeks ago.
Earlier in April, the digital asset trading platform ‘’collapsed” and subsequently swept over N1.3 trillion from investors’ wallets, leaving many Nigerians devastated.
The Nigerian suspects—Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede were accused of orchestrating fraudulent activities that reportedly led to significant financial losses for unsuspecting investors.
In a notice published across its official social media platforms on Friday, the anti-graft agency urged members of the public with useful information on the whereabouts of the suspects to come forward.
The other four Kenyan suspects identified as Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, Serah Michiro were accused of orchestrating fraudulent activities that reportedly led to significant financial losses for unsuspecting investors.
WANTED BY THE EFCC IN RESPECT OF CBEX SCAM pic.twitter.com/zrDRk0aVO1
— EFCC Nigeria (@officialEFCC) April 25, 2025
They are said to have been living in Nigeria.
“The public is hereby notified that the persons whose photographs appear above are suspected foreign accomplices wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exhange (CBEX),” read the notice on official EFCC X account.
The EFCC emphasized its commitment to tracking down individuals involved in cyber-related financial crimes, especially within the rapidly growing digital asset space.
This development comes amid increasing scrutiny on cryptocurrency platforms operating within Nigeria, as regulators and law enforcement agencies intensify efforts to protect investors and sanitize the financial ecosystem.
“The public is hereby notified that the persons whose photographs appear above are wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exhange (CBEX),” the agency said.
Similarly, operatives of the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) arrested 15 individuals suspected of engaging in internet fraud.
The operation followed credible intelligence linking the individuals to various internet-related fraudulent activities.
Items recovered at the scene include several mobile phones, laptop computers, and luxury vehicles, all of which are believed to be proceeds of cybercrime.
WANTED BY THE EFCC IN RESPECT OF CBEX SCAM#SayNoToCorruption#EFCCDey4You pic.twitter.com/ezSKBUvEUq
— EFCC Nigeria (@officialEFCC) April 25, 2025
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