Nigeria’s $246,153 Crypto Theft: Recovery Steps and Impact

The Nigeria Police Force has apprehended Ambassador Wilfred Bonse in connection with the theft of over $246,153 from Patricia Technologies’ crypto wallet.

ACP Olumuyiwa Adejobi, the Force’s Public Relations Officer, disclosed this, asserting that Bonse allegedly assisted hackers in laundering $61,538 from the pilfered funds.

Probe into Financial Fraud

The Force’s National Cybercrime Center (NPF-NCCC) has been probing a complex financial fraud case involving criminal conspiracy, unauthorised computer system alterations, and the illicit diversion of substantial funds.

The Inspector General of Police received a petition outlining the gravity of the case.

Ambassador Wilfred Bonse faces accusations of participating in the diversion of $747,076 from Patricia Technology’s account.

Investigations continue, with the police ensuring that all involved parties face legal consequences.

This arrest brings potential relief to Patricia Technologies, which suffered a significant hacking incident resulting in massive losses earlier this year.

The company responded by converting customer assets into Patricia Tokens, aiming to repay customers in the future.

These tokens, not on-chain but serving as internal holdings, are set to reimburse holders with 1 USDT each.

Asset Recovery and Repayment Assurance

In an effort to regain customer trust, Patricia Technologies enlisted DLM Trust as an escrow agent for repayment.

Despite setbacks due to disagreements, the company intends to proceed with the repayment schedule this month, assuring clients of asset recovery post the security breach.

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