Flutterwave, an African fintech unicorn, has denied losing $2,949,557,867 to hackers.
It was previously reported on Sunday that hackers stole the sum of $2,949,557,867 from the company's accounts, affecting over 300 customers.
Meanwhile, the company stated on Sunday that nothing of the sort occurred.
"We want to reassure you that Flutterwave has not been hacked," the company said. As a financial institution, we monitor transactions using transaction monitoring systems and a 24-hour fraud desk, and we investigate any suspicious activity. To keep our ecosystem safe and secure, we work with other financial institutions and law enforcement agencies."
It also stated that none of its customers' funds were lost, nor was the company's account hacked.
"During a routine inspection of our transaction monitoring system, we identified an unusual trend of transactions on some users’ profiles. Our team immediately launched a review (in line with our standard operating procedure), which revealed that some users who had not activated some of our recommended security settings might have been susceptible.”
“We want to confirm that no user lost any funds, and we take pride in the fact that our security measures were able to address the issue before any harm could be done to our users. We want to reassure you that Flutterwave has not been hacked.” Flutterwave said.
However, Prime9jaOnline reported on Sunday that the tech giant’s counsel, Albert Onimole, had notified the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba.
According to Onimole’s letter, the hack on Flutterwave’s accounts occurred about some weeks ago revealing that the said sum was initially transferred to 28 accounts in 63 transactions.
Although the accounts that received the money were listed, the police are yet to freeze the receiving accounts to prevent the money being moved.
According to Flutterwave, some commercial banks allowed the money to be moved to other accounts, widening the money trail.