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| DAVIDO / REMA POCOLEE / POSTED ENDORSEMENT FOR RACKSTERLI |
The CBEX scam involved a crypto-based Ponzi scheme that defrauded thousands, promoted by celebrities unknowingly endorsing it. CBEX promised high returns but collapsed in April 2025, leaving many in financial ruin. Celebrities like Davido, Rema, and Poco Lee also promoted similar scams in the past, like RackSterli. The influence of celebrities in Nigeria made people blindly trust these platforms, causing significant losses. It's crucial for both celebrities and fans to research financial opportunities carefully to avoid falling victim to such schemes.
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| CBEX SCAM |
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When Fame Fuels Fraud: How Nigerian Celebrities Unknowingly Backed Ponzi Schemes Like CBEX
In recent times, investment scams and Ponzi schemes have found a deadly new weapon: celebrity influence. One of the most painful examples is the collapse of CBEX, a crypto-based Ponzi platform that has defrauded thousands across Nigeria and beyond.
While most celebrities weren’t direct victims, many unknowingly promoted such platforms, encouraging millions of trusting fans to invest — and lose everything.
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| CBEX |
💥 The CBEX Scandal — A Quick Recap
CBEX (Crypto Binary Exchange) claimed to be an AI-powered crypto trading app, promising returns of 50% to 100% in just 30 days. It expanded rapidly through WhatsApp groups, social media influencers, and aggressive referrals. But behind the hype was a classic Ponzi scheme, and in April 2025, it collapsed—leaving many in debt and despair.
🎭 How Celebrities Played a Role (Even Without Knowing)
Ponzi schemes like CBEX often pay or convince celebrities and influencers to promote their platforms under the disguise of legitimate partnerships or investment opportunities.
Although there is no official confirmation of Nigerian celebrities falling victim directly to CBEX, fans reported seeing endorsements and promotion-style posts from public figures, giving CBEX a stamp of legitimacy.
🔥 Past Examples: When Celebs Backed Ponzi Scams
CBEX isn’t the first. Let’s not forget the RackSterli investment platform in 2021—a well-known Ponzi scheme that crashed, stealing millions from innocent people.
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| DAVIDO / REMA POCOLEE / POSTED ENDORSEMENT FOR RACKSTERLI |
❌ Celebs Who Promoted RackSterli:
Davido – Posted an endorsement for RackSterli, urging fans to “tap into greatness.”
Rema – Also publicly endorsed RackSterli on social media.
Poco Lee and Skiibii – Both featured in RackSterli promotions and ads.
These artists weren’t victims themselves, but their posts gave credibility to the platform. When the scheme crashed, angry fans flooded social media, accusing them of “leading lambs to the slaughter.
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| CBEX |
⚖️ Why It Matters
In Nigeria, celebrity worship is deep — millions of young people take financial advice from artists, actors, and influencers. Scammers know this and use it to their advantage.
When a star says “this app is paying,” people don’t ask questions. They invest. They borrow. They risk it all.
So when these platforms collapse, it’s not just money that’s lost—it’s Trust, hope, and sometimes even lives.
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| CBEX |
💡 Lessons for Celebs, Fans, and Everyone in Between
🎤 To Celebrities:
Do your due diligence before endorsing any financial product.
Avoid promoting high-return, low-risk investment schemes.
Your name carries weight — don’t let scammers use it to ruin lives.
🙋 To the Public:
Don’t invest blindly because a celeb said so.
Always research the platform and check if it’s registered with financial regulators like the SEC.
If the returns sound too good to be true — they probably are.
⚠️ The Danger of Influence
We live in an age where one tweet can make or break a company. One Instagram post can send thousands to invest their savings. And one wrong promotion can destroy lives.
CBEX may be gone, but the tactics remain — and new scams will always come, wrapped in glitter and hype.
Let this be a wake-up call for everyone. The next scam may already be loading.
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| CBEX |
💬 What Do You Think?
Have you ever followed a celebrity-endorsed platform and regretted it? Share your story in the comments.
🔒 Stay informed. Stay smart. And don’t be a victim of digital deception.
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