The Securities and Exchange Commission (SEC) has again warned the public against patronising ponzi schemes like Crypto Bridge Exchange (CBEX) and St Technologies International Limited, also known as Smart Treasure/Super Technology.
SEC noted that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the Commission or authorized to offer investment related services to the Nigerian public.
The Commission, in a statement on Wednesday said the warning was necessary following the media reports indicating that CBEX operating under the corporate identity of ST Technologies International Ltd, has resumed operations across Nigeria.
According to the reports, CBEX promoters are demanding $200 from their subscribers with balances above $1,000, and $100 from those with less than $1000 balances before withdrawals can be processed.
SEC revealed that enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities and that the Commission is collaborating with relevant Law Enforcement Agencies to properly investigate CBEX/ST Technologies International Ltd and will take appropriate actions in line with the provisions of the Investments and Securities Act 2025.
While reiterating its commitment to protecting investors and maintaining market integrity, SEC advised the public to VERIFY the registration status of Investment platforms via the Commission’s dedicated portal: www.sec.gov.ng/cmos before transacting.
