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FlutterWave Hack: Company Denies Hack Despite Mounting Evidence

Flutterwave

The management of Flutterwave, one of the foremost fintech companies in the country, has denied reports making rounds in social media that its accounts were hacked and N2.9billion stolen from its customer accounts.

Reports on social media showed evidence of Flutterwave using court orders to freeze personal accounts in 27 banks in Nigeria where the cash was allegedly transferred to.

Flutterwave released a statement refuting the hack.

The company said the personal and financial information of its custormers are safe and none of its customers have lost their funds.

This is part of the statement:

“We want to reassure you that Flutterwave has not been hacked. As a financial institution, we monitor transactions through our transaction monitoring systems and 24-hour fraud desk and review any suspicious activity,”

During a routine check of its 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.

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