Enable debug mode and maximum error reporting in Joomla global configuration. Then navigate to the users profile. This will help expose any fatal errors present. CB doesn't delete articles. CB Blogs will if the user themselves is deleted, but that can be turned off within CB Blogs > Parameters.
Please note after installing CB 2.x you need to also get all your plugins up to date by following or compatibility table below.
www.joomlapolis.com/cb-20-addon-status
Also never update a live site until you're absolutely sure everything is functioning as expected. Even then always make a backup before updating.