If you’ve heard of Cbex trading platform and you’re considering joining, I strongly advise you not to do so. Behind the standard website and mouthwatering profits, hides a calculated scam that would rip you off.
As a cybersecurity professional with years of experience, I investigated Cbex trading, below are my findings:
Is Cbex Trading Platform a Scam?
Though Cbex trading might seem legitimate as it has been operating since 2024, it’s actually a ponzi scam and not a signal trading platform. Firstly, they claim to use AI for trading and provide two signals a day, which they say are 100% accurate. Ask yourself why they would need to involve anyone else in the process if it was 100% accurate. They could use their own money and make a few billion dollars and never lose a single trade.
Yes of course its a scam, they are not regulated or licensed by any Financial regulatory body. Crypto trading platforms should be regulated by a combination of national and international bodies, including the Securities and Exchange Commission (SEC) for securities-related activities, the Financial Crimes Enforcement Network (FinCEN) for anti-money laundering, and potentially the Financial Action Task Force (FATF) for international standards.
Cbex fails to do so, what this implies is that there’s no watchdog or guard watching over them. They are acting on their own, and could one day abscond with users money.
Meanwhile, the Securities and Futures Commission (SFC) has issued an alert to consumers, and has put CBEX on a Suspicious Virtual Asset Trading Platforms Alert List. This is why the platform keeps changing their website domain. Formerly cbexokl.com, it was changed to cbex.cb, and now cbex.cc.
Why It’s not a Trading Plaform
CBEX is not equipped to function as a trading platform. Though it claims to provide users signals daily with which they can use to compound interest, the signals it provides is actually a sham, it can’t be used on other trading platforms like Binance. The wait time before withdrawal is an example of ponzi scheme.
It’s best explained this way;
Say person A joined Cbex, which promises 10% in one month. He put in $100. In one month he expect to get $110 out.
Cbex now has $100. A week later A tells B (because of the interest he stands to get from the referral programme) and B decided he also wants to put in money. B puts in $100. Cbex now has $200.
A month had gone by. A takes out his money $110, Cbex now has $90. Clearly they cannot pay B the $110 he had promised. So Cbex trading has to have someone else join the scheme, i.e. Person C, so he has now $190, so he can pay B $110. The game will continue as long as there is money left, and people are adding money into the Cbex faster than it’s being taken out. It stops when it runs out of money, or when authorities realize this is a scam and somebody will lose money at the end, because the late joiners
How Old is CBEX?
The first Cbex website was launched in June 2024, and that was when it was founded. However, most people mistake CBEX Group to a similar property rights trading organisation based in China. So when they search online for ‘How old is Cbex?’ Google says it was launched in 2004, but the information is actually not for Cbex Trading.
The crooks adopted the name to create the misleading impression that they’ve been existing for years, whereas the two businesses are not associated.
Who is the founder of Cbex Trading Platform?
There’s no information about the company’s founders, its headquarters, and official registration. Legitimate platforms typically provide a transparent background, whereas platforms with limited or no public information often raise concerns.
What to do If you’re a Victim of Cbex.cc Scam
If you’ve fallen victim to a crypto gaming platform scam, here’s what to do:
Stop Further Transactions
Immediately halt any transactions on the platform. Avoid depositing more funds or trying to make withdrawals.
Document Everything
Take screenshots of your account, transactions, and any communication from the platform. This will be important for reporting the scam.
Report to Authorities
File a complaint with your local law enforcement and report the scam to regulatory bodies like the U.S. SEC, FCA (UK), or your country’s financial regulator. In the U.S., also report to IC3 (Internet Crime Complaint Center).
Notify Crypto Exchanges
If your funds were transferred to a known exchange, inform them immediately to flag the transactions and potentially block the scammer’s account.
Use Malware Protection
Run a full malware scan on your devices to ensure scammers haven’t infected your system. Use trusted anti-malware software to protect your information.
Avoiding Crypto Recovery Service Scams
Another layer of danger comes after you’ve already been scammed. If you’ve fallen victim to a crypto scam, you might encounter crypto recovery services that claim they can help you get your money back—for a fee. These services are, in fact, another scam designed to steal more of your money.
How These Recovery Scams Work:
- They Promise to Recover Your Crypto
Recovery scammers will claim they have a network of experts or connections with crypto exchanges that can help reverse fraudulent transactions or recover lost crypto. - They Demand Payment Upfront
Once you contact these so-called recovery agents, they will demand an upfront fee before beginning any recovery work. This fee is often a percentage of the funds you’re hoping to recover. - They Disappear with Your Money
After receiving the fee, they will either disappear or continue to demand more money for additional steps in the “recovery process.” Eventually, you’ll realize you’ve been scammed again.
Conclusion
My investigation has unequivocally exposed cbex.cc as a scam trading platform. I recommend that users steer clear of this platform and instead opt for reputable, regulated, and transparent crypto-gaming platforms.