Patricia Technologies Security Breach: Police Vindicate Firm & Arrest Key Suspect In Hack Of Its Platform

The Nigeria Police Force recorded a major breakthrough in the reported cybercrime perpetrated against Patricia Technologies with the arrest of one of the suspects, Wilfred Bonse, after a thorough investigation into the case by the National Cybercrime Center of the Nigeria Police (NPF-NCCC).  

Patricia Technologies had earlier this year petitioned the Inspector General of Police to report the alleged theft following a reported breach of its cryptocurrency trading platform, Patricia. The incident resulted into loss of funds belonging to depositors and led to the suspension of the platform by Patricia Technologies to curtail further compromise of depositors’ funds.

The ensuing investigation revealed a far-reaching criminal conspiracy involving the unauthorized modification of computer systems, network data, and the unlawful diversion of funds totaling over 607 Million Naira belonging to the petitioner.

The alleged theft included the conversion of cryptocurrency wallets and diversion of unauthorized fund from Patricia Technologies’ Flutterwave account, with Wilfred Bonse, identified as a key player in the complex crime, conspiring with others to fraudulently divert Six Hundred and Seven Million Naira (N607,000,000:00k) from Patricia Technologies’ account to his bank account through a cryptocurrency wallet.

According to Hanu Fejiro, CEO of Patricia Technologies, the conclusion of the Police investigation and eventual arrest of one of the perpetrators is a huge respite to the firm, as well as all its stakeholders. “This is a big relief. We have finally been vindicated as not a few disbelieved us that our platform was hacked in the first place. But thanks to the diligence of the Nigerian Police and the unwavering commitment of my colleagues, we are delighted that our customers now have more reason to continue to trust us. The dark days are over”.

“With this development, Nigerians can now see that we have always been a truthful, fair, and responsible organization with the best interest of our customers at heart. We are happy that those who believed us have been vindicated and those who doubted us have a compelling reason to renew their trust in Patricia Technologies. With our platform relaunched with stronger security and our commitment to Nigerians, renewed, we look forward to the new era with great optimism”, Fejiro concluded.

It would be recalled that Patricia Technologies, on Monday November 20, started the first phase of repaying depositors that lost money to the breach, and have relaunched its platform for operations.

While the other co-conspirators remain at large, the Nigeria Police Force assures the public that comprehensive efforts are underway to ensure all involved in this criminal conspiracy are brought to justice.