Nigeria Police detain politician over N200m stolen from Patricia Technologies

0 196

A politician named Wilfred Bonse has been taken into custody by the Nigeria Police Force (NPF) in relation to the theft of more than N200 million from Patricia Technologies’ cryptocurrency wallet.

This was revealed in a statement issued on Friday by ACP Olumuyiwa Adejobi, the Force’s public relations officer. According to reports, Bonse assisted hackers in transferring N50 million from the pilfered funds.

He claims that the Force has advanced the investigation of a complicated financial fraud case that Patricia Technologies Limited reported by using its National Cybercrime Center (NPF-NCCC). He continued by saying that, according to a plea to the Inspector General of Police, the case featured criminal conspiracy, unauthorized modification of computer systems, network data, and the unlawful diversion of cash totaling more than N200 million.

In the statement, the NPF spokeswoman said:

“The petition specifically mentioned some individuals who are currently at large and detailed the details of the alleged theft, conversion of cryptocurrency wallets, and unauthorized fund diversion from the company’s Flutterwave account.” But relentless pursuit of them resulted in the capture of one Ambassador Wilfred Bonse.after registering his participation in the intricate crime. Wilfred Bonse engaged in a scheme to launder N50,000,000:00k, which originated with the illicit diversion of N607,000,000:00k, or six hundred and seven million naira, from the Patricia Technology company’s account to his bank account using a cryptocurrency wallet.
“The Nigeria Police Force wants to reassure the public that everyone involved in this criminal conspiracy will be brought to justice while the investigation is ongoing.”

For the corporation, the arrest related to the Patricial Technologies platform heist may have been a big relief.

Since its system was breached earlier this year, resulting in the loss of billions of dollars’ worth of user assets, the cryptocurrency trading corporation has been under intense scrutiny.

Patricia promised to refund the value of its clients’ assets at a later time by converting them into what it dubbed Patricia Tokens in response to demands from its clientele.

Read Also: Breaking: Appeal court affirms Abiodun’s election as Ogun governor

Patricia claimed to have suffered a cyberattack that resulted in the loss of assets in a White Paper that was published to justify its actions. It also stated that the Patricia Token was developed as an internal token that consumers may keep as a reminder of the company’s dedication to honesty and customer trust.

The corporation claims that the Token represents a commitment to reimburse holders with 1 USDT for each Patricia Token in the future, guaranteeing asset retrieval and mitigating the effects of the security compromise.

It stated that the Patricia Token will be handled by the business and that it is an internal token meant to symbolize debt rather than one that is on-chain.

In the meantime, the business stated in October that DLM Trust will be appointed as an escrow to handle consumer repayments in an effort to calm down its irate clientele.

But DLM withdrew from the arrangement, alleging some differences. Patricia Technologies declared that it would proceed with the repayment plan this month in spite of this.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More