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Nigerian Politician Arrested for Stealing $246,153 from Patricia Technologies’ Crypto Wallet

The Nigeria Police Force (NPF) reports the apprehension of Wilfred Bonse, a politician involved in the embezzlement of over 200 million naira ($246,153) from Patricia Technologies’ crypto wallet. Bonse allegedly collaborated with hackers to launder 50 million naira ($61,538) from the stolen funds, facing charges of criminal conspiracy, unauthorized alteration of computer systems, and illicit diversion of funds exceeding 200 million naira. The arrest stems from an investigation by the NPF’s National Cybercrime Center, as outlined in a petition to the inspector general of police.

Bonse’s arrest holds promise for Patricia Technologies, a crypto trading company under scrutiny after a hacking incident in May. To address customer concerns, Patricia converted assets into its native Patricia Token (PTK) and pledged future reimbursement, emphasizing integrity and customer trust. The company plans to repay holders with 1 Tether (USDT) token for each Patricia Token, representing debt internally managed. Despite setbacks with the escrow agent, DLM Trust, Patricia remains committed to the repayment schedule this month.

Amid the security breach fallout, Nigeria, a crypto-savvy nation, showcases 99% awareness of cryptocurrencies, surpassing the United States and European countries. A survey involving 15,158 participants aged 18-65 from 15 countries reveals Nigeria’s leading position in digital asset knowledge and perceived investment drive, with 70% understanding blockchain technology’s value, operations, and fundamentals.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.