Four days after its repayment plan was due to start, fintech Patricia identified a Nigerian politician, William Bonse, as a culprit in its 2022 $2 million hack.

According to the Nigerian Police Force (NPF), Bonse, who was a gubernatorial candidate in Nigeria’s 2023 elections, reportedly diverted ₦607 million ($760,000) from the fintech’s account into his through a cryptocurrency wallet. Bonse, who is allegedly working with others, had been apprehended by the police who say the politician has “registered his involvement” in the hack.

ICYMI: In May, Patricia was revealed to have suffered a hack in 2022 which cost it $2 million in customer funds. The hack led to several customers being unable to withdraw funds. Since then, Patricia has tried several measures to reassure customers including relaunching its app, offering to turn customer assets into a new Patricia Token, raising funds to repay customers, and even offering customers shares in exchange for their stuck funds.

While, in a May disclosure, the company said it had pinpointed a single culprit, it declined to disclose any details regarding the individual. Bonsu is likely the culprit in this scenario.

Have the funds been recovered? That’s not clear yet. In a press release, CEO Hanu Fejiro said recovery of the amount, while incomplete, would “go a long way to soothe Patricia users."

So far, the company claims it began refunding customers on November 20 as planned, but several customers have declined receiving any payment.


Sources: techcabal.com/2023/11/27/patricia-nigeria-theft/

Oh Patricia! Beware of Bonse.

naijaboi2:
Four days after its repayment plan was due to start, fintech Patricia identified a Nigerian politician, William Bonse, as a culprit in its 2022 $2 million hack.

According to the Nigerian Police Force (NPF), Bonse, who was a gubernatorial candidate in Nigeria’s 2023 elections, reportedly diverted ₦607 million ($760,000) from the fintech’s account into his through a cryptocurrency wallet. Bonse, who is allegedly working with others, had been apprehended by the police who say the politician has “registered his involvement” in the hack.

ICYMI: In May, Patricia was revealed to have suffered a hack in 2022 which cost it $2 million in customer funds. The hack led to several customers being unable to withdraw funds. Since then, Patricia has tried several measures to reassure customers including relaunching its app, offering to turn customer assets into a new Patricia Token, raising funds to repay customers, and even offering customers shares in exchange for their stuck funds.

While, in a May disclosure, the company said it had pinpointed a single culprit, it declined to disclose any details regarding the individual. Bonsu is likely the culprit in this scenario.

Have the funds been recovered? That’s not clear yet. In a press release, CEO Hanu Fejiro said recovery of the amount, while incomplete, would “go a long way to soothe Patricia users."

So far, the company claims it began refunding customers on November 20 as planned, but several customers have declined receiving any payment.


Sources: techcabal.com/2023/11/27/patricia-nigeria-theft/

I don't know why... na shady deal peep going fr binance