Angry Nigerians are turning to social media to explain how they were locked out of their accounts on CBEX, a digital financial platform.
People post videos of themselves crying and say they are unable to withdraw their investment and are worried that they have run out of money.
Some ferocious customers plundered the CBEX office in Ibadan city in the southwest, carrying chairs, air conditioners and solar panels. CBEX has not been released yet.
The company had promised investors to double their money each month. Nigeria is currently facing an age of maritime economy, and many are desperate to find ways to increase their income.
One investor identified as Ola told BBC Pidgin that he was afraid of losing 450,000 naira ($280, £210).
“Last week I was ready to withdraw all my investments, but my friend told me to be patient and wait – and now it crashed,” Ora said.
Many others share similar stories online as one person talks about losing $16,000.
This issue was first noticed over the weekend, but anger surged when Monday came and people still couldn’t access the money.
Some investors who filed complaints with the private messaging service Telegram received responses from CBEX.
They were told that the problem was the result of the hack and things would be resolved soon.
The Security Trade Commission, the Nigerian financial regulator, has not yet responded to the BBC request for comment.
For some, this situation brings painful memories from 2016 when another popular financial scheme called MMM freezes transactions and many investors get heartbroken.
Members are expected to receive a 30% return on their investment in just 30 days. It was launched in Nigeria in November 2015 and, according to its founder, had up to 3 million members before it collapsed.
