Hackers have made away with over ₦2.9 billion of Flutterwave’s money after a successful hacking of flutterwave account
Nigeriacrime gathered that the fintech company is seeking to freeze personal accounts in 27 Nigerian banks, and fintech, where the monies were transferred.
According to reports ₦2,949,557,867 has been illegally transferred from the accounts of African fintech, Flutterwave.
It was learned that on February 19, 2023, Flutterwave’s legal counsel, Albert Onimole, reported the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba, Lagos.
Onimole’s letter stated that the hack on Flutterwave’s accounts occurred about two weeks ago. It was said that the money was initially transferred to 28 accounts in 63 transactions. While the incident was reported to the police on February 13, 2023, with the list of accounts that had received the money, the police could not freeze the funds.
According to Flutterwave, some commercial banks allowed the money to be moved to other accounts, widening the money trail.
To investigate accounts holding the stolen funds across various financial institutions in Nigeria, S.A. Adedesin, Legal Officer, State CID, Panti, Yaba, Lagos, filed a suit in the Magistrate Court of Lagos (Yaba Magisterial District sitting at Yaba) to support Flutterwave’s claims.
The suit is between the Commissioner of Police and the following financial institutions.
Access Bank
Providus Bank
Union Bank
Keystone Bank
PalmPay
First City Monument Bank (FCMB)
Kuda Bank
Zenith Bank
First Bank of Nigeria
Guaranty Trust Bank (GTB)
United Bank for Africa (UBA)
Polaris Bank
Wema Bank
Union Bank
Sterling Bank
Ecobank
Paycom
Fidelity Bank
Eyowo
Stanbic IBTC Bank
Opay
VFD Microfinance Bank
Carbon
Moniepoint
Al-Hayat Microfinance Bank
PiggyVest
Nomba (previously Kudi)
Some accounts have already been frozen.
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.