Crypto, forex or trading: warning signs and what to do
What to do
Bangladesh Bank has repeatedly warned that dealing in crypto may breach foreign-exchange and money-laundering laws, so losses are very hard to recover. Guaranteed trading profits do not exist.
Warning signs
- Involves crypto, forex or trading.
- Claims an AI or robot does the trading for you.
How this scam has played out
Crypto "trading platform" Ponzi (the CBEX pattern)
CBEX, an app claiming AI arbitrage trading, promised 100% returns in 30 days, froze withdrawals in April 2025, then demanded an upfront payment before letting people withdraw. Nigeria's SEC put losses at N1.3 trillion from about 600,000 investors and said it could not recover the money.
Source: Vanguard (Apr 2025), SEC Nigeria · Elliptic (2025) · The Daily Star (Aug 2023), MTFE in Bangladesh
Where to check
Received a message or offer like this? Check it before you pay.
Check it nowHelp and helplines
- National emergency 999
- Police Cyber Support for Women 01320-000888
- Visa check for Oman, Qatar, Saudi Arabia (Ami Probashi, paid) 16768
This guide is a warning about a pattern; it does not accuse any particular person or organisation.