Just three months after the collapse of the fraudulent crypto scheme CryptoBridge Exchange (CBEX), another suspicious platform has surfaced. Known as BWALL Super Long-Term Investment Project, the site is raising major red flags for operating in a similar pattern as CBEX.

CBEX had previously scammed thousands of Nigerians, many of whom sold properties, took loans, and invested vital funds before the platform vanished. The Economic and Financial Crimes Commission (EFCC) is still prosecuting five of its identified promoters at the Federal High Court in Abuja.

Now, BWALL is being marketed with nearly identical tactics: high daily returns, a multi-level referral commission system, VIP levels, and unverifiable licensing claims.

FIJ discovered that the BWALL website was created on July 2, while its full launch happened on July 12. The platform promises daily returns of 1.95% to 3.25% depending on user level, and claims investors can earn salaries and enjoy support for offline events.

“Any crypto site that pays salary or funds offline events is a scam. Real exchanges don’t work like that,” said Abass Adediran, a crypto trader.

BWALL also claims it will soon be available on Google Play and Apple Store. However, experts warn that being on app stores does not guarantee legitimacy — CBEX also had an app before defrauding its users.

The platform's developers are allegedly based in Moldova, while its registrar’s contact traces to Singapore. BWALL also lacks any physical address, customer support hotline, or verifiable business registration. It only responds through a website chatbot.

Even more alarming, an FIJ source said their contact openly admitted that BWALL "is like CBEX" and advised people to join early before it eventually collapses.

When FIJ queried the chatbot about BWALL’s licence, it claimed to have a U.S. Money Service Business (MSB) licence but refused to provide evidence. Verification via the U.S. FinCEN system showed no record of BWALL being registered.

Bottom Line:
The BWALL platform bears all the signs of a crypto Ponzi scheme: exaggerated profit promises, referral-based incentives, unverifiable claims, and foreign backers working with local promoters. Experts and watchdogs strongly advise Nigerians to stay away.

Naija Blog does not endorse BWALL and warns readers to be cautious of any platform that guarantees high daily returns.

We will continue to monitor this story and provide updates as investigations unfold.