Flutterwave Hit by Unknow Hackers Lost Millions of Dollars

Flutterwave, Africa’s largest startup, suffered a cyberattack resulting in the disappearance of over ₦2.9 billion (~$4.2 million) from its accounts last month. According to the reports, the missing funds were transferred across 28 accounts in 63 transactions in early February by unknown threat actors.

 

Flutterwave is currently investigating the attack with law enforcement agencies to freeze accounts across 27 financial institutions that were involved in the transactions. Following the news about the case, several tweets surfaced regarding the alleged hack, some providing information while others complained about frozen accounts possibly linked to the incident. 

Meanwhile, Flutterwave has denied hacking by saying that “at Flutterwave, we understand that our customer’s personal and financial information is of the utmost importance. We take this responsibility seriously and understand that any potential security breach can cause anxiety and concern among our customers. We want to reassure you that Flutterwave has not been hacked”. 

Following the investigation, a legal request has been made to freeze 107 accounts, including the fifth beneficiary of those accounts, which has been placed on lien/Post-No-Debit (PND) to prevent the account owners from withdrawing any funds. 

These measures have been taken

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