The Securities and Exchange Commission (SEC) has issued a fresh warning to the Nigerian public regarding the activities of Crypto Bridge Exchange (CBEX), which is reportedly operating across the country under the name ST Technologies International Ltd—also known as Smart Treasure or Super Technology.
In an official statement published on the Commission’s website on June 10, 2025, the regulatory body noted disturbing reports that CBEX has resumed operations and is now demanding payment from subscribers before processing withdrawals. According to these reports, customers with account balances above $1,000 are being asked to pay $200, while those with balances below $1,000 must pay $100 to access their funds.
SEC emphasized that neither CBEX nor ST Technologies International Ltd is registered or licensed by the Commission to provide any form of investment service in Nigeria. “The public is strongly advised to refrain from dealing with this entity in any capacity, as doing so poses a significant risk of financial loss,” the statement read.
The Commission revealed that enforcement actions had already been launched against CBEX following its prior unauthorized investment operations. SEC also confirmed that it is working closely with relevant law enforcement agencies to thoroughly investigate the activities of CBEX and its promoters. Any violations of the Investments and Securities Act 2025 will be met with appropriate sanctions.
Investors and members of the public are encouraged to verify the regulatory status of any investment-related company through the Commission’s online portal at www.sec.gov.ng/cmos.
“The SEC remains fully committed to protecting investors and ensuring the integrity of the Nigerian capital market,” the statement concluded.
