The Nigeria Police Force (NPF) mentioned it has arrested one politician, Wilfred Bonse, for the theft of over 200 million naira ($246,153) from Patricia Technologies’ crypto wallet.
The disclosure was made by Olumuyiwa Adejobi, the drive public relations officer, in an announcement issued on Friday. Bonse allegedly assisted hackers in laundering 50 million naira ($61,538) from the stolen funds.
He said that the NPF, by way of its National Cybercrime Center, has achieved vital progress in the Patricia Technologies case. The case consists of prison conspiracy, the unauthorized alteration of laptop methods and community information, and the illicit diversion of funds exceeding 200 million naira ($246,153), as outlined in a petition submitted to the inspector basic of police.
The NPF spokesperson mentioned in the assertion that Bonse had been arrested for the theft, the conversion of cryptocurrency wallets, and the unauthorized fund diversion from Patricia Technologies. The assertion detailed the alleged involvement of a number of people, with some nonetheless at giant.
PRESS BRIEFING BY THE FORCE PUBLIC RELATIONS OFFICER, ACP OLUMUYIWA ADEJOBI ON ACHIEVEMENTS RECORDED BY THE NPF-NCCC
NPF-NCCC ARRESTS ONE WILFRED BONSE IN CONNECTION WITH PATRICIA SECURITY BREACH AND COMPLEX FINANCIAL FRAUD
Similarly, the NPF-NCCC has made vital strides…
— Nigeria Police Force (@PoliceNG) November 24, 2023
Bonse is accused of conspiring to launder 50 million naira from the fraudulent diversion of 607 million naira ($747,076) from Patricia Technology’s account to his checking account by way of a cryptocurrency wallet. The investigation is ongoing.
The arrest linked to the Patricial Technologies heist brings potential aid to the crypto buying and selling firm. Patricia Technologies faced significant scrutiny after a hacking incident in May that resulted in a considerable lack of buyer funds.
Responding to buyer requests, Patricia converted the value of customer assets to its native Patricia Token (PTK), assuring reimbursement in the long run. Patricia emphasised its dedication to integrity and buyer belief, introducing PTK as an internal customer holding.
Related: Nigeria’s NITDA advocates AI integration in payments for global recognition
According to Patricia, it’s dedicated to reimbursing holders with 1 Tether (USDT) token for every Patricia Token, making certain asset restoration after the safety breach. Patricia clarified that PTK shouldn’t be on-chain however capabilities as an inner token representing debt and is managed by the corporate.
To appease its involved purchasers, Patricia revealed in October that it had enlisted DLM Trust as an escrow agent for distributing buyer repayments. However, DLM withdrew as a result of disagreements with the corporate. Patricia intends to proceed with the reimbursement schedule this month.
