Cryptocurrency NewsNigerian Politician Arrested for Alleged Involvement in $757K Crypto Heist

Nigerian Politician Arrested for Alleged Involvement in $757K Crypto Heist

Nigerian authorities have detained Ambassador Wilfred Bonse, a notable Nigerian politician, on charges of theft and money laundering related to a security breach at Patricia Technologies Ltd., a cryptocurrency trading firm. This information comes from ACP Olumuyiwa Adejobi, the Nigerian Police Force’s (NPF) public relations officer, who confirmed that Bonse’s arrest is a result of the investigation into the hacking incident at Patricia.

Adejobi revealed that Bonse is accused of funneling 50 million naira (about $62,368) from a total of 607 million naira (approximately $757,151) that was illicitly transferred from Patricia’s system to his account through a cryptocurrency wallet. Before his arrest, Bonse was a candidate for governor in Nigeria’s Southern region. The investigation is ongoing, and while some suspects are still at large, the Police spokesperson emphasized that all individuals implicated in this conspiracy will be apprehended and brought to justice.

Patricia’s CEO, Hanu Fejiro Abgodje, expressed relief and a sense of vindication following the arrest, noting that the incident had cast doubt on the legitimacy of the hack. He said, “This is a big relief. We have finally been vindicated as not a few disbelieved us that our platform was hacked in the first place. But thanks to the diligence of the Nigerian Police and the unwavering commitment of my colleagues, we are delighted that our customers now have more reason to continue to trust us. The dark days are over.”

Patricia experienced a significant security breach in May, leading to substantial customer deposit losses. Despite a setback involving the termination of a partnership with DLM Trust Company, the company recently announced in a blog post that it would proceed with its repayment plan starting November 20.


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