Politician Arrested in Connection to Patricia Technologies Crypto Wallet Heist

Nigerian Police Apprehend Wilfred Bonse for Alleged Theft and Unauthorized Fund Diversion

In a significant development, the Nigeria Police Force (NPF) announced the arrest of Nigerian politician Wilfred Bonse in connection with the theft of over 200 million naira ($246,153) from the crypto wallet of Patricia Technologies.

The force public relations officer, Olumuyiwa Adejobi, revealed this information in a statement issued on Friday, detailing the progress made by the National Cybercrime Center in the Patricia Technologies case. The charges against Bonse include criminal conspiracy, unauthorized alteration of computer systems and network data, and the illicit diversion of funds exceeding 200 million naira.

Bonse is accused of collaborating with hackers to launder 50 million naira from the stolen funds. The ongoing investigation suggests the involvement of multiple individuals, with some still evading law enforcement.

The arrest is a potential breakthrough for Patricia Technologies, a crypto trading company that faced severe scrutiny after a hacking incident in May resulted in substantial customer fund losses. In response to customer concerns, Patricia converted the value of customer assets to its native Patricia Token (PTK), ensuring future repayment and emphasizing dedication to integrity and customer trust.

Patricia, in October, announced DLM Trust as an escrow agent for distributing customer repayments, intending to proceed with the repayment schedule this month after an initial withdrawal by DLM Trust due to disagreements. Customers are assured of reimbursement, with 1 Tether (USDT) token for each Patricia Token, symbolizing a commitment to asset recovery post-security breach. It's crucial to note that PTK operates internally, representing debt and managed by the company. (Photo Source / Blockonome)