Ponzi

SEC Issues Alert on $PUN Investment Risk On a recent Sunday, the Securities and Exchange Commission (SEC) of Nigeria delivered a cautionary message to the public, discouraging investment in a cryptocurrency known as $PUN. This warning carries weight; the SEC labeled the ongoing presale as both unlawful and unregulated. It raises an important question: in a digital age rife with enticing financial opportunities, how do we discern between legitimate investment prospects and risky scams? In their statement, the…

Unraveling the CBEX Collapse: A Closer Look at Nigeria's Latest Ponzi Scheme Scandal In a shocking turn of events, the platform known as the China Beijing Equity Exchange (CBEX) has come crashing down in Nigeria, leaving behind a trail of despair. An estimated 300,000 investors have been engulfed in financial losses amounting to ₦1.3 trillion, which is roughly equivalent to $840 million. As investigations unfold, there are serious questions about the scale of this Ponzi scheme and the nature of its operations. How did a…