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Hackers steal N2.9bn from Flutterwave

by Marcus Amudipe
March 5, 2023
in News
Reading Time: 1 min read
Hackers steal N2.9bn from Flutterwave
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Hackers have allegedly carted away the sum of ₦2,949,557,867 from the accounts of African fintech unicorn, Flutterwave.

According to Techcabal, the tech giant’s counsel, Albert Onimole, has reported the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba.

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

Although the receiving accounts were named, the police have yet to freeze the receiving accounts to prevent the money from being moved.

According to Flutterwave, several commercial banks permitted the money to be transferred to other accounts, so expanding the money trail.

To support Flutterwave’s claims, S.A. Adedesin, Legal Officer, State CID, Panti, Yaba, filed a suit in the Magistrate Court of Lagos to investigate the accounts holding the stolen funds across various financial institutions in Nigeria.

The lawsuit is between the Commissioner of Police and the 28 commercial banks involved.

Tags: FlutterwaveHacker
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