The Economic and Financial Crimes Commission (EFCC) has expanded its investigation into the collapsed Crypto Bridge Exchange (CBEX) platform by declaring two additional suspects wanted in connection with the massive cryptocurrency fraud scheme.

In an official notice released on Wednesday through its social media channels, the anti-graft agency identified the suspects as 31-year-old Folashade Odelana and 32-year-old Bamidele Ayodele Abiodun. Both individuals were last known to reside at No. 17, Oremeta Street, Allen, Ikeja, Lagos State.

According to the EFCC, the suspects allegedly orchestrated fraudulent activities on the CBEX platform, resulting in substantial financial losses for numerous investors across Nigeria.

Growing List of Wanted Suspects

With these new additions, the total number of individuals declared wanted in connection with the CBEX fraud has risen to 12. Previously, the EFCC had declared eight other persons wanted for their alleged involvement in the same case, including Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.

The commission has already secured arrest warrants for six suspects: Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

Devastating Impact on Nigerian Investors

The CBEX collapse, which occurred in April 2025, sent shockwaves through Nigeria's cryptocurrency community when users suddenly found themselves unable to access or withdraw their investments from the platform. According to victim estimates, the fraud affected over 600,000 Nigerians and resulted in losses exceeding ₦1.3 trillion.

The scale of the collapse triggered nationwide outrage, with affected investors demanding swift justice and restitution for their losses.

EFCC's Call for Public Assistance

The EFCC has urged members of the public with information regarding the whereabouts of Odelana and Abiodun to contact any of its offices across Ibadan, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja. Information can also be provided through the commission's official helplines, via email at info@efcc.gov.ng, or by reporting to the nearest police station or security agency.

EFCC Chairman, Ola Olukoyede, has assured the public that the commission is making significant progress with its investigations and recovery efforts related to the CBEX fraud case.

As the investigation continues to unfold, the EFCC remains committed to bringing all perpetrators to justice and recovering as much of the stolen funds as possible for the affected investors.