Regulatory Alerts2025-04-17
CBEX (Crypto Bridge Exchange) and ST Technologies International Ltd Unregistered Digital Asset Advisory
The Nigerian Securities and Exchange Commission has clarified that CBEX, operating as ST Technologies International Ltd, lacks official registration to solicit public investments or operate as a digital assets exchange. Preliminary investigations reveal the platform engaged in misleading promotional campaigns, failed to process subscriber withdrawals, and abruptly closed its physical offices while promising implausibly high guaranteed returns. Pursuant to Section 196 of the Investments and Securities Act 2025, the Commission will collaborate with law enforcement to enforce compliance against CBEX and its promoters while advising investors to verify platform registrations before transacting.
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