_techcabalSource.webp?alt=media&token=4b6cd358-191f-4075-9582-ef73adbb93dd)
Flutterwave denies being breached for a second and third time even as it pursues legal action to recover funds
#fintech
#legal
In new claims made by three sources who shared several pieces of evidence with TechCabal, the Nigerian fintech unicorn, Flutterwave, was likely breached a second and third time on March 1 and 14, 2023. The sources alleged that, much like the first incident on February 5, the perpetrators used monies fraudulently obtained from Flutterwave accounts to buy USDT on the crypto platform Binance. According to those sources, the monies involved in both incidents in March are estimated to be N550 million. It remains unclear how the perpetrators were able to move the money.
According to an article in TechCabal, Nigerian fintech unicorn Flutterwave has been breached for the second and third time on 1 and 14 March 2023. The report claims the perpetrators used fraudulently obtained funds to buy USDT on the crypto platform Binance. While Flutterwave denies the allegations, it has filed legal petitions against beneficiaries, causing hundreds of bank accounts to be blocked. The matter is now before Nigerian courts, with the company looking to recover millions of dollars in funds from hundreds of users. Reports say some of the beneficiaries are cryptocurrency merchants.
Read more on TechCabal
Top comments(0)
SEND
