Flutterwave’s legal counsel, Albert Onimole, reported the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba, Lagos, on February 19, 2023. While the police investigation is ongoing, Flutterwave is seeking to freeze the account where the hacker transferred some of the money.
To investigate accounts holding stolen funds in various financial institutions in Nigeria, SA Adedesin, Legal Officer, State CID, Panti, Yaba, Lagos, filed a suit at the Lagos Magistrate Court in support of Flutterwave’s claim. Motions to freeze accounts at 27 financial institutions in Nigeria, including Access Bank, Kuda, Zenith Bank, and OPay, have been filed.
At press time, it was unclear who hacked Flutterwave or how the hackers bypassed the company’s security. The question of what this means for unicorn customers is also unanswered. Flutterwave has not yet answered our questions.
Flutterwave users have reported that some commercial banks allow their money to be moved to other accounts, widening their money footprint. Several Twitter users have confirmed that their accounts have been frozen due to the hack.
Flutterwave is a digital payment infrastructure company that enables banks and businesses to accept and make payments across Africa. It has raised more than $400 million in funding and has more than 290,000 traders using the platform.
We will keep you updated as more information becomes available.