The CBEX story: A psychological reflection (II)

NOT everyone is talking. Some still sit quietly with the pain, afraid of what people might say. “How could you fall for that?” “Weren’t you smarter?” The fear of being labeled greedy, gullible, or foolish keeps many voices silent.

But silence doesn’t mean it didn’t hurt. In fact, it hurt more—because in addition to the financial loss was the shame. A kind of shame that isolates. One that makes you second-guess your own judgment. For many, CBEX wasn’t just an app. It was a door — a hopeful, glimmering door to a better life.

People don’t talk about what it felt like. How your phone lit up with alerts. How someone you trusted said it was legit. How it didn’t feel like gambling, because everyone else was doing it too. Until it all stopped.

Some of the losses were deep and personal. One young man had saved up to buy a Toyota Corolla to start an Uber business — something to break free from joblessness. He took a detour, thinking he could double the car money with CBEX. Today, he still treks. A married couple—both civil servants — sold their cars, pooled the cash, and joined the scheme. They imagined a dream investment, a quick boost. Now, they share one motorcycle, trying to move on in silence. One woman used her daughter’s medical school admission fund. The girl had secured an offer to study in the UK, and the family had been saving for years. The mother thought this would multiply their chances. Now, the dream is deferred, the money gone, and the silence at home louder than words.

And then there were those who borrowed. Some took loans from cooperative societies, others from colleagues, friends, or even thrift collectors. Some used money entrusted to them—like a woman who used her younger brother’s school fees, or a man who diverted money meant for a family member’s surgery. These weren’t reckless people — they were just hopeful, desperate, and caught up in something that was designed to feel trustworthy. CBEX was made to look real. Professional website. Smooth interface. Testimonials that sounded true. WhatsApp groups buzzing with updates. Daily profits that appeared like magic. You weren’t just watching your money grow—you were encouraged to bring others in. Share your referral link. Earn bonus percentages. Help them grow too. And so, the circle grew wider. And tighter. Until it collapsed.

CBEX worked — until it didn’t. And when it stopped working, the crash wasn’t just digital. It was emotional. It was mental. It was human. The pain is not only in the numbers lost, but in the trust betrayed. The trust in others. The trust in yourself.

Some are still stuck in denial—holding out hope that the wallet will reopen. That the funds will unlock. That CBEX will rise again. But deep down, most people know. And that’s where recovery begins — with truth. CBEX is gone. It was a Ponzi scheme. And no amount of waiting can reverse what was never truly real.

The next step is self-forgiveness. Many are angry—not just at CBEX, but at themselves. “How could I fall for this?” “Why didn’t I pull out earlier?” But the truth is, your desire for a better life is not a crime. You were hopeful, not foolish. You were trusting, not stupid. You were human.

Some have begun to rebuild. Slowly. Quietly. Emotionally. Mentally. Financially. For those who borrowed, it has meant owning up, having hard conversations, and making plans to repay what they can. For those who lost savings, it has meant starting again—little by little, with new lessons etched into their thinking.

Some are studying financial literacy. Some have channeled the pain into small, honest businesses. Some have joined informal support groups to talk, vent, or simply feel less alone. Because even in loss, there is strength in community.

And yet, perhaps the most important thing is to learn. Because CBEX may be gone, but schemes like it will return. They always do. They may wear new names. Appear with fresh designs. But they follow the same patterns. So how do you know?

If it promises guaranteed high returns with little or no risk, be careful. If the business model isn’t clear—if you can’t explain exactly how the money is made — that’s a red flag. If you only make money by bringing in others and earn bonuses for referrals, then it is not an investment. It’s a trap, feeding on new recruits to keep up the illusion of profit. If withdrawal becomes difficult or new rules keep cropping up—that’s a warning. If everyone around you is doing it, don’t let the crowd do your thinking. Herd mentality is powerful, but cliffs are crowded for a reason.

CBEX wasn’t just a scheme. It was a mirror—one that showed us our hunger for more, our willingness to trust, and our quiet fear of being left behind. But it also revealed our resilience. Because as painful as it was, you are still here. Still breathing. Still capable of healing, learning, and moving forward. You are not your financial mistake. You are not the sum of a failed transaction. You are a person—complex, emotional, and worthy of a second chance.

Let this be the last time. Let this be the lesson. Let this be the voice that helps someone else pause before clicking “invest.” Because CBEX can come again. Different name. Different app. Same tricks. But next time, you’ll know better.

Bola Otegbayo