CBEX Crypto Scam: Cross-Chain Transactions Exposed

The collapse of CBEX, a cryptocurrency platform, emerged in April 2025, involving anonymous operators with cross-chain transactions fueling a billion-dollar scam affecting users worldwide.

The event highlights vulnerabilities in cross-chain operations, sparking concern for regulatory oversight, as users faced substantial financial and privacy risks without immediate market crashes.

CBEX Unveiled: A $1 Billion Cross-Chain Scam

The collapse of CBEX highlights a billion-dollar scam utilizing cross-chain transactions. Anonymous operators allegedly managed the flawed trading platform, causing significant financial damage to users. The scam was reportedly similar to other fiat-laundering tactics.

CBEX leveraged a complex chain-hopping mechanism, obscuring financial trails between Ethereum and Tron. Investigation implies several Telegram admins and developers were involved in promoting the project and allegedly threatening users post-collapse. “Post-collapse, I will make sure anyone speaking against CBEX will face consequences.”

Immediate Fallout: $800 Million to $1 Billion Lost

The collapse resulted in immediate financial losses estimated between $800 million and $1 billion. The scam involved converting user deposits, primarily USDT, employing cross-chain bridging techniques to conceal operations.

Experts note that cross-chain crime surged, indicating potential regulatory and technological scrutiny. Possible increase in future regulations to deter similar laundering activities. Investigators discovered KYC data leaks, posing risks of identity theft.

CBEX Mirrors PlusToken: A Sophisticated Fraud

CBEX echoes the tactics of PlusToken (2019) and other schemes, marking it as the most sophisticated cross-chain fraud to date. Such occurrences underline the ongoing exploitation of emerging blockchain technologies in financial scams.

Experts suggest monitoring cross-chain activities more closely, drawing parallels with past multifaceted frauds. Regulatory measures and improved forensic tools are predicted to mitigate future risks in similar crypto environments.

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