Exclusive: Flutterwave loses ₦11 billion in security breach
- Flutterwave suffered a security breach in which billions of naira were diverted to multiple bank accounts.
- This is the fourth incident of unauthorized transfers at Flutterwave in the last 14 months.
- The matter has been reported to law enforcement and investigations have begun.
The repeated security breaches at Flutterwave raise concerns about the company's ability to protect customer funds and data. It is crucial for Flutterwave to strengthen its security measures and regain the trust of its customers. The involvement of organized networks in the latest breach suggests a sophisticated level of cybercrime, highlighting the need for robust cybersecurity practices in the financial services industry.
