Hackers Allegedly Steal Over N2.9bn From Flutterwave Accounts

March 5, 2023
38 Views

flutterwave

Nigerian Fintech Company, Flutterwave suffered a major loss after hackers reportedly transferred the sum of ₦2,949,557,867 from their accounts.

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

According to Onimole’s letter, the hack on Flutterwave’s accounts occurred about some weeks ago revealing that the said sum was initially transferred to 28 accounts in 63 transactions.

Although the accounts that received the money were listed, the police are yet to freeze the receiving accounts to prevent the money being moved.

According to Flutterwave, some commercial banks allowed the money to be moved to other accounts, widening the money trail.

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

The suit is between the Commissioner of Police and the affected 28 commercial banks.

While there are no documents to confirm if the court has ruled in favour of Inspector Micheal’s motion, some people have confirmed that their accounts have been frozen in connection to the hack.

Per the motion filed by Adebesin, 107 accounts, including fifth beneficiaries of those accounts, are to be placed on lien/Post-No-Debit (PND).

With the stolen funds distributed across several accounts, which, according to tweets, may or may not have anything to do with the hack, it is not clear at this time who hacked Flutterwave.

Questions about how hackers got past Flutterwave’s security and what this means for the unicorn’s customers remain unanswered. As of press time, Flutterwave hasn’t responded to our questions.

You may be interested

Chukwueze Benched Again As Milan Beat Empoli
Sports
2 views
Sports
2 views

Chukwueze Benched Again As Milan Beat Empoli

Webby - February 8, 2025

Samuel Chukwueze was benched as AC Milan defeated struggling Empoli 2-0 in the Serie A on Saturday. Chukwueze has now…

Rangers Can Win Europa League — Dessers
Sports
6 views
Sports
6 views

Rangers Can Win Europa League — Dessers

Webby - February 8, 2025

Cyriel Dessers believes Rangers can make history by winning the UEFA Europa League this season. Philippe Clement’s side bypassed the…

Survival Fight! Akwa United’s Alaekwe Vows To Sink Enyimba In Must-Win Clash
Sports
1 views
Sports
1 views

Survival Fight! Akwa United’s Alaekwe Vows To Sink Enyimba In Must-Win Clash

Webby - February 8, 2025

Chijioke Alaekwe, Akwa United’s leading scorer in the 2024/2025 NPFL season, has exclusively told Completesports.com that Sunday’s matchday 23 fixture…

Leave a Comment

Your email address will not be published.