Angry Nigerians are turning to social media to describe how they are locked in their accounts on the digital finance platform CBEX.
People posted videos of themselves crying, saying they could not withdraw their investments and were worried that their money had disappeared.
Some angry customers ransacked a CBEX office in the southwestern city of Ibadan, transporting them from chairs, air conditioning and solar panels. CBEX has not yet published a public comment.
The company has promised investors will double their monthly money. Nigeria is currently facing a strict economic era, and many are eager to find a way to increase their income.
An investor identified as Ola told BBC Pidgin that he feared he lost 450,000 naira ($280; £210).
“I'm going to withdraw all investments last week, but my friend told me to be patient – it's broken now,” Ola said.
Many others shared similar stories online, with one talking about losing $16,000.
This issue was first noticed on the weekend, but when Monday came, anger boiled and people still couldn’t get the money.
Some investors complaining about the private messaging service Telegram received a response from CBEX.
They were told that the problem was the result of the hacker and things would be resolved soon.
The Nigeria Securities and Exchange Commission (SEC), which regulates SECOTR, has not responded to a request for comment from the BBC. But the SEC has previously warned citizens about risks of unregulated digital platforms and potential Ponzi schemes
For some, this situation restored painful memories of 2016, when another popular financial plan called MMM freezes its deals, leaving many investors heartbroken.
Members should receive a 30% return on investment in just 30 days. It was launched in Nigeria in November 2015 and according to its founders, it had as many as 3 million members before it collapsed.
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