@theflutterwave is embroiled in a complex legal battle as it grapples with the aftermath of a significant security breach that occurred in October 2023. The latest development in the saga saw a federal High Court in Abuja reject a police request to freeze and reverse billions of naira allegedly stolen from the company’s account.
The incident unfolded on October 12 and 13, 2023, when a system glitch enabled several Point of Sale (POS) merchants to exploit vulnerabilities in Flutterwave’s platform, facilitating unauthorised transfers of funds. Despite the magnitude of the breach, Flutterwave maintained that no customer funds were lost, attributing the incident to a system error.
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#innovationvillage
#flutterwave
#policematter
#federalhighcourt
#transactions
#pointifsale
#nigeriabanks
#nigeriaeconomy
#bankingservices
#nigeriabusiness
