Fuji music icon, Alhaji Taye Adebisi, popularly known as Taye Currency, has opened up about his devastating financial loss in the wake of the collapse of Crypto Bridge Exchange (CBEX), a Ponzi scheme that recently defrauded countless Nigerians.
Speaking during a live performance in a now-viral video circulating on social media, the visibly distraught singer recounted how he was lured into the fraudulent investment platform by some of his close associates.
With passion and pain in his voice, he detailed the emotional and financial toll the loss of ₦10 million has had on him, lamenting how his trust was betrayed by those he considered brothers.
According to Taye Currency, the entire ordeal began on April 1 when a friend named Sodiq visited him at home with glowing testimonies about CBEX.
“On April 1, Sodiq came to my house and said Lateef, the brand manager, had collected some money and also introduced Alaba and Small London had also collected their money, and Brother Muca,” he said.
The singer further explained that the persuasive power of their testimonies was hard to ignore, especially when it appeared everyone around him was cashing in on the opportunity.
Alaba, he noted, went as far as using ₦1.2 million allegedly stolen from the stage to invest, while Brother Muca contributed ₦500,000, which he earned as a work fee.
Taye Currency did not stop there. He continued to name those who he claimed benefitted early from the scheme, describing the sequence of events that convinced him to join.
“Sodiq used the money he was saving in the band, ₦850,000. Lateef invested ₦1.4 million,” he recounted. These investments, paired with stories of significant returns in a short time, proved irresistible to the Fuji maestro.
Their successes painted a picture of a golden opportunity, one that seemed too lucrative to pass up—especially for someone surrounded by people reaping rapid profits.
“Lateef said he used ₦200k to collect ₦600k, and I got motivated,” Taye confessed with a bitter smile. “I withdrew the money I had saved with insurance, see my life in the open. I invested ₦10m in CBEX on April 1, but everything vanished,” he added, his voice heavy with regret.
The realization that the platform was a sham hit him hard, especially because he joined just two weeks before CBEX crashed and the operators vanished with investors’ funds.
For him, it was not just a financial loss but a betrayal of trust and loyalty that cut deep.
The performance where he made the revelation quickly turned into an emotional outburst, as Taye Currency openly cursed those who led him into the doomed investment.
His pain was raw and unfiltered as he called out the names of his associates, declaring that their actions had dragged him into unnecessary hardship. “If they die well, they won’t rest well, because I was on my own before you took me to CBEX,” he declared, drawing gasps from the audience who were clearly moved by his candor.
The performance, meant to entertain, became a public lamentation of deceit and loss.
CBEX’s crash has been labeled one of the largest Ponzi scheme collapses in Nigeria’s recent history, with rough estimates indicating that Nigerians may have lost over ₦1.3 trillion collectively.
Taye Currency’s public admission underscores the far-reaching impact of the fraudulent scheme and serves as a cautionary tale about blind trust and the dangers of high-risk investments disguised as quick money ventures.
His story joins the chorus of countless others who are now left picking up the pieces from the financial wreckage CBEX has left behind.
