Nigerian police arrest politician linked to crypto hack

Nigerian authorities arrested Amb. Wilfred Bonse, a Nigerian politician, for alleged theft and money laundering in connection to a breach suffered by cryptocurrency trading company Patricia Technologies Ltd. 

According to ACP Olumuyiwa Adejobi, a public relations officer with the Nigerian Police Force (NPF), the arrest was made following the force’s investigation into Patricia’s hack. 

As stated by Adejobi, Bonse allegedly assisted in laundering 50 million naira ($62,368) out of 607 million naira ($757,151) fraudulently diverted from the platform to his account via a crypto wallet. 

Before his arrest, Bonse contested for a gubernatorial seat in the Southern part of Nigeria. While investigations are still ongoing, other suspects remain at large, with the PRO stating that everyone involved in the criminal conspiracy case will be caught and punished. 

Reacting to the arrest, Patricia CEO Hanu Fejiro Abgodje said the development vindicated the crypto platform, which came under criticism following the hacking incident. 

“This is a big relief. We have finally been vindicated as not a few disbelieved us that our platform was hacked in the first place. But thanks to the diligence of the Nigerian Police and the unwavering commitment of my colleagues, we are delighted that our customers now have more reason to continue to trust us. The dark days are over”

Patricia CEO, Hanu Fejiro Agbodje

Patricia suffered a breach in May, resulting in the loss of customer deposits. In a recent blog post, the platform announced that it would move ahead with its repayment plan, which began Nov. 20, despite DLM Trust Company terminating a partnership deal with the crypto trading outfit.