The Economic and Financial Crimes Commission (EFCC) has declared Elie Bitar, a 41-year-old foreign national, wanted for his alleged involvement in a cryptocurrency fraud scheme linked to the online trading platform, Crypto Bridge Exchange (CBEX). The platform reportedly defrauded thousands of Nigerian investors, resulting in losses exceeding N1.3 trillion.
According to the EFCC, Bitar orchestrated the fraudulent investment scheme through CBEX, promising unrealistic returns and exploiting the growing interest in cryptocurrency investments. The commission has urged anyone with information about Bitar’s whereabouts to contact their nearest EFCC office.
This development highlights the increasing need for regulatory oversight in the cryptocurrency space and serves as a warning to potential investors to exercise caution.
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