Friday, March 31, 2023

Flutterwave Denies Losing N2.9bn To Hackers

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Flutterwave, an African fintech company, has denied losing N2.9bn to hackers through a statement issued addressing the claims regarding its security and assuring safety of its customers accounts.


The African fintech giant said personal and financial information is very important maintaining that security breaches can become a great concern among customers.

The firm assured that it was not hacked, confirming transactions are monitored, with an active 24-hour fraud desk that reviews suspicious activity.

READ ALSO: Hackers ‘Steal’ ₦3bn From Flutterwave Accounts

The statement reads, “During a routine check of our transaction monitoring system, we identified an unusual trend of transactions on some users’ profiles.

“Our team launched a review (inline with our standard operating procedure), which revealed 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.

“Our commitment to keeping our users’ financial information secure is why we invest heavily in security initiatives such as periodic audits, certifications, and licenses such as the PCI-DSS & ISO 27001.

READ ALSO: Usain Bolt Loses $12 Million To Hackers

“We want you to continue to trust us and feel secure in using Flutterwave for your business needs. Our commitment is to enable your business growth while keeping your financial information safe.”


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 Photo credit: Getty

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