Nigeria Fintech Flutterwave Denies Client Account Hacking Reports
The Nigerian fintech Flutterwave has rejected reviews suggesting that hackers have stolen as a lot as $6.3 million from consumer accounts. The fintech agency mentioned a routine examine of its transaction monitoring system helped to uncover “an unusual trend of transactions on some users’ profiles.”
Motion to Freeze
The Nigerian fintech unicorn, Flutterwave, has mentioned reviews suggesting that hackers stole roughly $6.3 million from shopper accounts are usually not true. In a statement issued on March 5, the fintech insisted that no consumer misplaced any funds and that corrective motion taken had in actual fact enabled it to “address the issue before any harm could be done to our users.”
Flutterwave’s assertion denying the hacking claims adopted a Techpoint report which prompt that as a lot as $6.3 million (2.9 billion naira) had been siphoned from customers’ accounts. According to the report, the hacking incident is assumed to have occurred in early February and Flutterwave is believed to have reacted to this by submitting a movement to freeze accounts in as many as 27 monetary establishments.
While the assertion prompt that Flutterwave is working with “other financial institutions and law enforcement agencies to keep our ecosystem safe and secure,” the fintech agency nonetheless insisted it solely took motion after detecting anomalies on some customers’ accounts.
“During a routine check of our transaction monitoring system, we identified an unusual trend of transactions on some users’ profiles. Our team immediately launched a review (in line with our standard operating procedure), which revealed that some users who had not activated some of our recommended security settings might have been susceptible,” the fintech agency defined.
Flutterwave added that the preemptive steps it took helped it to deal with the difficulty earlier than “any harm could be done to our users.”
You are widespread I’ll publish proof right here, A hack confirmed by a flutterwave employees, my financial institution confirming flutterwave contacted them, flutterwave submitting a petition with a lawyer whose seal has expired since 2017. Their assertion and Affidavit swearing this true, as oath. pic.twitter.com/zEHVMCgQOn
— Ufedo (@UfedoDavid) March 5, 2023
Meanwhile, on Twitter, some customers rejected Flutterwave’s model of what transpired and have insisted that the hacking incident is true. One consumer, often known as Alex Onyia, tweeted that Flutterwave had been hacked by Omar Edewor Trades and that hundreds of thousands of naira had been stolen from buyer accounts. Another consumer, Ufedo, shared “evidence” which proved that the hacking incident did happen.
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