Police move to arrest 601 bank customers that received proceeds of N11bn Flutterwave breach
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Police Action Against Fraudulent Transfers: The Nigeria police plan to arrest 601 bank customers suspected of receiving funds from fraudulent transactions linked to a Flutterwave security breach, which allowed PoS operators to exploit the system and transfer billions of naira to various accounts.
Court Proceedings and Account Freezing: Following an investigation, the police have requested the courts to freeze the accounts of those who benefited from the fraudulent transfers instead of reversing the funds, as previous motions for fund reversal were denied due to lack of fair hearing for the banks involved.
About the author

Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.






