- 1 The Nigeria Police Force detained Wilfred Bonse over the charges of money laundering.
- 2 Wilfred backed the hackers to launder N50 Million from the stolen funds: Report.
- 3 NPF assured the public that all those involved in the case will be brought to justice.
The Police Force of Nigeria informed that it has detained an ambassador named Wilfred Bonse who is associated with the theft of 200 Million Nigerian currency from the crypto wallet of Patricia Technologies.
As per the statement of ACP Olumuyiwa Adejobi, the public relations officer of Nigerian Police Force, Wilfred backed the hackers to launder N50 Million from the stolen funds.
Adejobi said that the Police force used its National Cybercrime Center to make significant strides in the investigation of a crucial financial fraud event reported by Patricia Technologies.
Furthermore ACP added “the fraud incident involves criminal conspiracies,unauthorized modification of computer systems, data over network and illegal diversion of stolen funds.”
NPF Official Statements
The official spokesperson of the Nigerian Police Force noted that “Highlighting the details of the alleged theft, cryptocurrency wallet conversion,and unauthorized funds diversion from the victim’s flutterwave account, the plea mentions some elite at larger positions.” “ Crucial efforts led to the detentions of Wilfred Bonse.”
The recent arrest of a political personality in the investigation has acted as a huge relief for the company that suffered massive losses.
Patricia Returning Consumers Funds?
Following the theft, customers raised concerts over their funds. Facing immense pressure, the company decided to convert the value of customers’ funds in Patricia Token, promising to repay them in the coming times.
The company decided the value of one Patrica Token is equivalent to 1 Tether (USDT), thereby making the customers believe in asset recovery and addressing the impact of the security breach.
However the token issued by the company will not be on-chain, it will be used as an internal token for representing the debt over Patricia and will be fully managed by the company itself.
Patricia Technologies Contribution to Crypto in Nigeria
Earlier in 2020, Patricia launched the First Bitcoin ATM Card in Africa to streamline the interaction between Bitcoin and its users.
The ATM offers an entirely new platform for Patricia’s commitment to financial insertion and emphasis on product development. The company allows its users to spend their Bitcoin anytime and anywhere globally.
Crypto Market Overview
At the time of writing, the market capitalization of the entire crypto market was $1.43 Trillion and the leader of all cryptocurrencies is trading at $37,739 with a weekly surge of 3.52%.
In terms of intraday gainers the first position is occupied by STEPN followed by Apecoin, Decentraland, Axie Infinity, Synthetic, The Sandbox and several others.
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.