You see, no matter how good a thing is, there is always somebody trying to manipulate it negatively for selfish benefit. 

This is especially so in this era of internet connectivity. Indeed, anybody is susceptible to being defrauded by cybercrime perpetrators.


But the consolation is that the law enforcement agencies are watching your back.

Cryptocurrency: Police Nabs ‎₦607m Fraud Suspects


Now, operatives of the Nigerian Police Force have apprehended four suspects for their participation in cybercrimes.

The suspects whose names are withheld at the moment conspired and unlawfully diverted ₦607 million.


The money belongs to one Patricia Technologies’ cryptocurrency account.

Cybercrime Suspects Caught 

These Cybercrime suspects, without authorisation, modified computer systems belonging to Patricia Technologies’.

The arrest was achieved through a thorough investigation, and it has vindicated Patricia Technologies.

Patricia Technologies had in 2022, petitioned the Inspector General of Police to report a breach of its cryptocurrency trading platform, Patricia.


Have You Read: Cristiano Ronaldo In Trouble For Promoting Binance

The incident resulted in the loss of funds belonging to depositors.


Also, it led to the suspension of the platform by Patricia Technologies. According to the organisation, this was done to curtail further compromise of depositors’ funds.

Police Public Relations Officer, Olumuyiwa Adejobi, while briefing journalist in Abuja, said investigation revealed that ₦607 million was unlawfully diverted.

Adejobi said: “Our investigation revealed a far-reaching criminal conspiracy involving the unauthorised modification of computer systems, network data, belonging to the petitioner.

“We have arrested the key suspect in this complex cybercrime with three of his co-conspirators.

“He is a prominent politician and former gubernatorial aspirant in Cross River State in the 2023 general election.

“He masterminded the crime by conspiring with others, through the conversion of cryptocurrency wallets.

“The suspect is responsible for diverting ₦607 million from Patricia Technologies’ Flutterwave account to his bank account”.

Our Dark Days Are Over

On account of the arrest, Hanu Fejiro, CEO of Patricia Technologies, said: “The arrest of one of the perpetrators is a huge respite to the firm, as well as all its stakeholders.

You May Also Like: Expert Says Crypto Market Will Hit $25trn By 2030

“This is a big relief.

“We have finally been vindicated because many people did not believe 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.

“With this development, Nigerians can now see that we have always been a truthful, fair, and responsible organisation with the best interest of our customers at heart”.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.