Bisola David
Patricia Technologies Limited has made a commitment to enhancing system security in the wake of the technical hack that caused financial disruption and illicit withdrawals from the company’s account.
According to The Punch, in 2022, the company filed a petition with the Inspector General of Police to report a hack on Patricia, its cryptocurrency trading platform.
The incident led to the loss of depositor funds, and Patricia Technologies suspended the platform in order to prevent additional financial compromise.
The Nigeria Police revealed the criminal conspiracy involving the unauthorized alteration of computer systems and network data, as well as the unlawful diversion of petitioner funds, on Friday through the Force Public Relations Officer, Olumuyiwa Adejobi.
According to a petition to the IGP, the police claimed to have made major progress in their investigation of a complex financial fraud case that Patricia Technologies Limited had reported. The case involved a criminal conspiracy, unauthorised modification of computer systems and network data, and the unlawful diversion of funds totaling more than N200 million.
Adejobi added that the investigation was still ongoing while confirming the arrest of one of the suspects in the case, Wilfred Bonse.
The petition specifically mentioned some individuals who are currently at large and detailed the specifics of the alleged theft, conversion of cryptocurrency wallets, and unauthorized fund diversion from the company’s Flutterwave account. However, diligent work on their trail resulted in Amb Wilfred Bonse’s apprehension.
The FPRO continued, “Wilfred Bonse conspired to launder the sum of N50m originating from the fraudulent diversion of N607m from Patricia Technology Company’s account to his bank account through a cryptocurrency wallet after registering his involvement in the complex crime.”
The Chief Executive Officer of Patricia Technologies, Hanu Fejiro, responded to the news in a statement, stating that the firm and all of its stakeholders were greatly relieved by the police investigation’s conclusion and the eventual arrest of one of the accused perpetrators.
“This is a huge comfort. Despite many people’s disbelief that our platform was hacked in the first place, we have finally been proven right. However, we are happy that our clients now have even more reasons to keep putting their trust in us because of the diligence of the Nigerian Police and the unshakable dedication of my colleagues. The bad times are behind us.
“We look forward to the new era with great optimism, with our platform relaunched with stronger security and our commitment to Nigerians renewed,” Fejiro said in closing.
