A new cryptocurrency Ponzi scheme named BWALL has emerged, closely resembling the recently collapsed CBEX scheme.
A new cryptocurrency Ponzi scheme named BWALL has emerged, closely resembling the recently collapsed CBEX scheme. BWALL promises investors significant returns, offering a multi-tiered referral program that mimics the failed CBEX’s structure. Launched on July 12, 2025, the platform offers users three levels of earnings based on their status: regular users, Level 1 agents, and Level 2 agents, with daily returns of up to 3.25%.
Despite its claims of legitimacy, BWALL exhibits several red flags, including its vague registration details and reliance on high-level referrals to generate earnings. Unlike legitimate crypto exchanges, BWALL restricts trading amounts and imposes artificial limitations. Critics, such as crypto trader Abass Adediran, warn that these tactics are commonly used by fraudulent schemes. Additionally, the platform lacks a customer service line and only offers a chatbot for support.
Experts also noted that BWALL’s claims of having a money service business (MSB) license are unverifiable. The platform has already attracted local promoters targeting vulnerable Nigerians, continuing a pattern of scams.