Flutterwave Denies Losing N2.9bn to Hackers

African fintech unicorn Flutterwave has denied losing the sum of  ₦2,949,557,867 to hackers.

It was earlier reported on Sunday that hackers stole the sum of ₦2,949,557,867, from the accounts of the company and over 300 customers were affected by the fraudulent act.

Meanwhile, the company disclosed nothing of such happened, on Sunday.

The company said, “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. We collaborate with other financial institutions and law enforcement agencies to keep our ecosystem safe and secure.”

It further disclosed that none of its customers lost funds nor was the company account hacked.

“During a routine check 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.