Flutterwave—Lost ₦11 billion ($7M+) in security breach as perpetrators illegally transferred funds
In April 2024, perpetrators illegally transferred ₦11 billion ($7 million) from Flutterwave to several accounts. A second insider claimed the amount was at least ₦20 billion ($13.5 million). This followed a February 2024 incident where Flutterwave was defrauded of up to $24 million through unauthorized POS transactions, with a court order secured to recover funds from over 6,000 Nigerian bank customers.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Data Security | -against | primary | -1.00 |
| Overall incident score = | -0.443 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.59)× agency (negligent ×0.5)
Evidence (1 signal)
Lost ₦11 billion ($7M+) in security breach as perpetrators illegally transferred funds
In April 2024, perpetrators illegally transferred ₦11 billion ($7 million) from Flutterwave to several accounts. A second insider claimed the amount was at least ₦20 billion ($13.5 million). This followed a February 2024 incident where Flutterwave was defrauded of up to $24 million through unauthorized POS transactions, with a court order secured to recover funds from over 6,000 Nigerian bank customers.