According to reports, $2,949,557,867 was fraudulently moved from the accounts of Flutterwave, an African fintech startup.
According to Techcabal, the lawyer for the tech giant, Albert Onimole, reported the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba.
The breach on Flutterwave’s accounts, which occurred a few weeks ago, according to Onimole’s letter, revealed that the aforementioned cash was initially transferred to 28 accounts in 63 transactions.
Despite the fact that the receiving accounts were mentioned, the police have not yet frozen those accounts to stop the money from being moved.
Flutterwave claims that certain commercial banks permitted the transfer of the funds to additional accounts, lengthening the money trail.
S.A. Adedesin, Legal Officer, State CID, Panti, Yaba, filed a lawsuit in the Magistrate Court of Lagos to support Flutterwave’s claims and to examine the accounts containing the stolen monies across several financial institutions in Nigeria.
The 28 impacted commercial banks and the Commissioner of Police are the parties to the lawsuit.
Some people have confirmed that their accounts have been frozen in relation to the hack, even though there are no records to show whether the court has granted Inspector Micheal’s application.
Adebesin’s move requests that 107 accounts, including their fifth beneficiaries, be placed on lien/Post-No-Debit (PND).
It is currently unknown who breached Flutterwave due to the monies being spread across multiple accounts, which, based on tweets, may or may not have anything to do with the hack.
Unanswered questions include how hackers managed to breach Flutterwave’s security and what this implications for the unicorn’s customers. Flutterwave hasn’t responded to our inquiries as of the time of publication.
