The Nigeria Police Force (NPF) has reported the arrest of a prominent politician, Wilfred Bonse, in connection with the theft of more than 200 million naira (equivalent to $246,153) from Patricia Technologies’ cryptocurrency wallet.
The revelation came from Olumuyiwa Adejobi, the spokesperson for the police force, who issued an official statement on Friday.
It is alleged that Bonse played a pivotal role in aiding hackers in the laundering of 50 million naira (about $61,538) from the pilfered funds.
According to Adejobi, the NPF, working in collaboration with its National Cybercrime Center, has made significant strides in the investigation of the Patricia Technologies case.
The case involves a range of criminal activities, including conspiracy, unauthorized alterations to computer systems and network data, and the illicit diversion of funds exceeding 200 million naira (approximately $246,153).
These allegations were presented in a petition submitted to the Inspector General of Police.
The police spokesperson’s statement went on to specify that Bonse has been apprehended for his alleged involvement in the theft, the conversion of cryptocurrency wallets, and the unauthorized diversion of funds from Patricia Technologies.
The statement also outlined the purported participation of several individuals, some of whom are still at large.
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Bonse stands accused of conspiring to launder 50 million naira resulting from the fraudulent diversion of 607 million naira (equivalent to $747,076) from Patricia Technology’s account to his bank account via a cryptocurrency wallet. The investigation into this matter remains ongoing.
The arrest of Bonse in connection with the Patricia Technologies heist potentially brings some relief to the cryptocurrency trading company, which faced substantial scrutiny following a hacking incident in May, resulting in a significant loss of customer funds.
In response to customer concerns, Patricia converted the value of customer assets into its native Patricia Token (PTK), guaranteeing future repayment.
Patricia reiterated its commitment to maintaining integrity and customer trust, introducing PTK as an internal customer holding.
Patricia has undertaken to reimburse holders with 1 Tether token for each Patricia Token, ensuring the recovery of assets following the security breach.
It is important to note that PTK operates as an internal token representing debt and is managed by the company, rather than being on a public blockchain.
In an effort to address client anxieties, Patricia revealed in October that it had enlisted DLM Trust as an escrow agent for the distribution of customer repayments.
However, DLM Trust subsequently withdrew due to disagreements with the company. Patricia intends to proceed with the repayment schedule later this month.
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