Flutterwave Denies Reports of Account Hacking – Fintech Bitcoin News


The Nigerian Fintech Flutterwave Reports that hackers had stolen up to $6.3 million from user accounts have been rejected by the company. The Fintech firm claims routine checks of their transaction monitoring system led to the discovery “an unusual trend of transactions on some users’ profiles.”

Motion To Freeze

The Nigerian fintech unicorn, Flutterwave, said that reports claiming hackers stole $6.3 Million from client accounts are false. In Statement issued on March 5. The fintech maintained that no user had ever lost funds, and that it had taken corrective measures that enabled it to. “address the issue before any harm could be done to our users.”

Flutterwave’s statement denying the hacking claims followed a Techpoint report which suggested that as much as $6.3 million (2.9 billion naira) had been siphoned from users’ accounts. According According to the report the hacking incident was reported to have occurred in early February Flutterwave It is believed that he responded to this by filing a motion for the freezing of accounts at as many as 27 financial institutions.

While According to the statement, Flutterwave Is it working with “other financial institutions and law enforcement agencies to keep our ecosystem safe and secure,” the fintech firm however insisted it only took action after detecting anomalies on some users’ accounts.

“During a routine check of our transaction monitoring system, we identified an unusual trend of transactions on some users’ profiles. Our team immediately launched a review (in line with our standard operating procedure), which revealed that some users who had not activated some of our recommended security settings might have been susceptible,” The fintech company explained.

Flutterwave It also stated that it was able to resolve the problem by taking preventive measures. “any harm could be done to our users.”

MeanwhileOn TwitterSome users were rejected Flutterwave’s version of what transpired and have insisted that the hacking incident is true. One User, also known as Alex Onyia, tweeted That Flutterwave Hacker had hacked Omar Edewor Trades It was discovered that customer accounts had been taken out of pocket by thieves who took millions of Nigerian naira. Another user, UfedoShared “evidence” This confirmed that the hacking incident actually occurred.

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Terence Zimwara

Terence Zimwara Is it a Zimbabwe Award-winning journalist, author, and writer He He has written extensively on the economic problems of some African Digital currencies and countries can be provided by both paper and digital currencies. Africans With an escape route.

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