Flutterwave Debunks Rumours Of Stolen Money

According to Flutterwave’s official statement, the company denies losing the sum of ₦2,949,557,867 to hackers.

The company confirmed that none of its customers lost funds and that its security measures were able to address the issue before any harm could be done.

Flutterwave also stated that during a routine check of its transaction monitoring system, an unusual trend of transactions on some users’ profiles was identified, and their team launched a review, which revealed that some users who had not activated recommended security settings might have been susceptible.

However, it was reported that Flutterwave’s counsel had notified the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba, stating that the hack occurred about some weeks ago and that the said sum was initially transferred to 28 accounts in 63 transactions.

Flutterwave also mentioned that some commercial banks allowed the money to be moved to other accounts, widening the money trail.

Nonetheless, Flutterwave maintains that it was not hacked and that its security measures were able to detect and address the issue.