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Alleged hack: Tweeps react as Flutterwave freezes customers’ accounts

by Marcus Amudipe
March 6, 2023
in FinTech
Reading Time: 1 min read
Alleged hack: Tweeps react as Flutterwave freezes customers' accounts
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Nigerians have taken to social media to lament their inability to access their funds on African fintech unicorn, Flutterwave.

Gadget Africa had reported that Flutterwave disclosed that hackers had allegedly carted away the sum of ₦2,949,557,867, from its account.

It was gathered that the breach on Flutterwave’s accounts happened a few weeks ago, and the money was first transferred to 28 accounts in 63 transactions.

While the bank has recently denied the hack, many of its customers have taken to social media to decry their inability to access their accounts.

@Oxxghost, tweeted, “So flutterwave been covering a USDT hack and then holding people who bought the “stolen USDT” via P2P liable for the hack.”

Another tweep, @Honitel, accused the financial institution of covering up an alleged bankruptcy case, he tweeted, “I do not believe Flutterwave was hacked. A fintech company that big has a lot of hackers to stop things like this from happening.

“It’s either they lost that N2.9B to FTX bankruptcy and kept quiet all these while or they intentional pulled this rug pull.”

@Anthony_Nwaneri, tweeted, “My problem with this story is “According to Flutterwave, some commercial banks allowed the money to be moved to other accounts, widening the money trail.” Anybody who’s in finance knows that without a court order you can’t legally have a customers account on PND indefinitely.”

Also @Moneybiggy.sol, tweeted, “After deleting tweets with comments. 90% of binance merchant don’t accept flutterwave deposits, now I know why. Bunch of scams and liers.. this can only happen in nigeria, if not for nigeria I swear you would pay for damages”.

Tags: Flutterwave
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