African fintech unicorn Flutterwave has again denied allegations that it’s system has been hacked two more times and over $1.2 million has been stolen.
Almost a month after pan-African tech publication Techpoint alleged that the company suffered a hack by culprits who transferred about ₦2.9 billion ($6.3 million) from the startup’s account, TechCabal is also reporting that Flutterwave has suffered sources two more hacks.
The report quoted sources as saying that the company was hacked again on March 1 and 14 by culprits who, this time, transferred a total ₦550 million ($1.2 million) from the company’s accounts.
The sources alleged that, much like the first incident on February 5, the perpetrators used monies fraudulently obtained from Flutterwave accounts to buy USDT on the crypto platform Binance.
But Flutterwave has flatly denied these new hacking allegations claiming, as with the previous one, that it’s simply investigating some “unusual trends in some users’ profiles”. The company also claims that neither it nor its customers lost any money.
Court documents, however show that the fintech, in March, sought and obtained an order to freeze 106 bank accounts—across 27 Nigerian banks and financial institutions—which had directly or indirectly received money from the illegal transfers. These orders have affected about 108 persons, many of whom are crypto merchants.
Another source claims that the fintech has now filed a forfeiture petition against the supposed beneficiaries.
A court is set to hear the Flutterwave case on April 28.
