Flutterwave Looses N11 Billion Again in Security Breach
Technology tamfitronics Flutterwave, Africa’s main fee technology company, has over as soon as more been targeted by cybercriminals. This time, an alarming N11 billion changed into illicitly drained from the company’s coffers, stirring necessary area within the tech community and amongst its worthy user bad.No subject the breach, Flutterwave reassures that no customer funds receive been compromised.How the breach came aboutIn line with an inner checklist by Techcabal, a “extremely-positioned crew” member disclosed that unidentified fraudsters orchestrated a complex procedure in April 2024, transferring a staggering N11 billion ($7 million) to multiple accounts across plenty of financial institutions. This terrifying activity is share of an even bigger troubling pattern affecting the financial large, which had beforehand sought perfect recourse to score higher $24 million misplaced to unauthorized POS transactions in 2023.“The perpetrators engaged in a...
