The Economic and Financial Crimes Commission (EFCC) has revealed that it has traced funds linked to the failed Crypto Bridge Exchange (CBEX) scheme to at least four countries.

Challenges in Recovery
EFCC Chairman Ola Olukoyede stated that while efforts are underway to recover stolen funds, full restitution to victims may be impossible due to the complexity of transactions and involvement of foreign jurisdictions.

Progress in Investigation
The EFCC has blocked some accounts, frozen funds, and arrested three suspects who have provided useful statements. The agency is working with foreign counterparts to make further progress.