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Monday 6 March 2023

Hackers are accused of stealing $2.9 billion from Flutterwave.


According to Onimole's letter, the hack on Flutterwave's accounts happened a few weeks ago, and the money was initially transferred to 28 accounts in 63 transactions. According to Punch, hackers allegedly stole $2,949,557,867 from Flutterwave.

It was gathered that the money was illegally transferred from the accounts of African fintech unicorn, Flutterwave.

According to Techcabal, the case was reported to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba by the tech giant's counsel, Albert Onimole.
The suit is being filed against the Commissioner of Police and the 28 commercial banks involved.

While there are no documents to confirm whether the court granted Inspector Micheal's motion, some people have confirmed that their accounts have been frozen as result of the hack.

According to Adebesin's motion, 107 accounts, including fifth beneficiaries, are to be placed on lien/Post-No-Debit status (PND).

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

Questions remain unanswered about how hackers breached Flutterwave's security and what this means for the unicorn's customers. 
Flutterwave had not been released as of press time.

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