Flutterwave debunks losing N2.9 billion to hackers.

Flutterwave, a unicorn in the African financial industry, has denied losing $2,949,557,867 to hackers.

On Sunday, it was previously revealed that hackers had stolen $2,949,557,867 from the company’s accounts, with over 300 clients being impacted.

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 also stated that neither the company account nor any of its clients’ money had been lost.

“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.” It added.

However , it was revealed on Sunday that Albert Onimole, the tech giant’s lawyer, had informed the State Criminal Intelligence Department, Panti, Yaba, about the case.

The breach on Flutterwave’s accounts, which occurred a few weeks ago, according to Onimole’s letter, revealed that the aforementioned cash was initially transferred to 28 accounts in 63 transactions.

Despite the fact that the receiving accounts were mentioned, the police have not yet frozen those accounts to stop the money from being moved.

Flutterwave claims that certain commercial banks permitted the transfer of the funds to additional accounts, lengthening the money trail.