Wilfred Bonse, a Nigerian politician, is in hot water for his alleged role in a cyber hack that cost Patricia $2 million.
Six months after Patricia’s reported cyber attack resulting in a $2 million loss, the Nigerian Police Force arrested Wilfred Bonse, a contestant in Cross River state’s recent gubernatorial election, accusing him of laundering ₦50 million.
The funds allegedly came from the fraudulent diversion of ₦607 million from Patricia’s Flutterwave account to Bonse’s bank account via a cryptocurrency wallet.
“The case involves criminal conspiracy, unauthorised computer system modification, network data tampering, and unlawful fund diversion,” stated Olumuyiwa Adejobi, police spokesperson, confirming ongoing investigations.
Following the hack, Patricia temporarily halted withdrawals, causing discontent.
Users and industry commentators criticised the Nigerian-focused crypto exchange. Patricia later replaced users’ assets with a new token, Patricia Token.
Despite founder Hanu Fejiro’s assurance in September of secured funding for repayments, DLM Trust terminated its escrow contract with Patricia, alleging breaches. Fejiro contested, vowing to proceed with scheduled payments on November 20, 2023.
Recent reports indicate Patricia has begun repaying users in Naira. Bonse’s arrest offers hope for the troubled exchange. Fejiro affirmed commitment to users, stating, “Repayment started on November 20, and it will continue until every user is reached.”
Bonse, a Nigerian politician associated with the People’s Democratic Party (PDP) and later the New Nigeria People’s Party, faced disqualification and denied a refund for election form expenses.
His X profile identifies him as a “financial and management consultant, philanthropist, ambassador of goodwill, and global peace ambassador.” In February, he was previously linked to a ₦40 million cyber fraud scheme.
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