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Popular Fuji musician Taye Currency has revealed that he lost N10 million to the controversial crypto platform Crypto Bridge Exchange (CBEX), which he described as a suspected Ponzi scheme.
The singer, during a recent live performance, opened up about being persuaded by close associates to invest in CBEX, after hearing supposed success stories — including one where a band member, Lateef, allegedly turned N200,000 into N600,000.
Motivated by these testimonies, Taye Currency said he withdrew N10 million saved in an insurance account and invested in CBEX on April 1. Unfortunately, the funds disappeared without a trace.
Emotionally charged, the artist sang about his loss on stage, also revealing how other members of his team, including Alaba, Muca, and Lateef, had committed various amounts into the platform.
“CBEX scammed me and those close to me. I lost N10 million. Alaba even used stolen stage money to invest. It’s painful,” he lamented.
Taye Currency’s ordeal adds to growing concerns around CBEX, which has been accused of duping numerous Nigerians with fake promises of massive returns through cryptocurrency investments.
