{"id":88913,"date":"2023-11-26T04:26:56","date_gmt":"2023-11-26T09:26:56","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/nigerian-politician-arrested-for-246153-theft-from-patricia-technologies-crypto-wallet\/"},"modified":"2023-11-26T04:26:57","modified_gmt":"2023-11-26T09:26:57","slug":"nigerian-politician-arrested-for-246153-theft-from-patricia-technologies-crypto-wallet","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=88913","title":{"rendered":"Nigerian Politician Arrested for $246,153 Theft from Patricia Technologies&#8217; Crypto Wallet"},"content":{"rendered":"<div>\n<figure id=\"attachment_136490\" aria-describedby=\"caption-attachment-136490\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-136490\" class=\"wp-caption-text\">Source: AdobeStock \/ Faraz<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The Nigeria Police Force (NPF) has announced the arrest of a politician in connection with the theft of over 200 million naira (approximately $246,153) from Patricia Technologies\u2019 crypto wallet.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In a recent post on X (formerly Twitter), the NPF said the arrest of Wilfred Bonse was made following an investigation conducted by the NPF\u2019s National Cybercrime Center.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to Olumuyiwa Adejobi, the force\u2019s public relations officer, Bonse is accused of collaborating with hackers to launder 50 million naira (around $61,538) from the stolen funds.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The charges against him include criminal conspiracy, unauthorized alteration of computer systems and network data, and the illicit diversion of funds exceeding 200 million naira.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">These allegations were outlined in a petition submitted to the inspector general of police.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">PRESS BRIEFING BY THE FORCE PUBLIC RELATIONS OFFICER, ACP OLUMUYIWA ADEJOBI ON ACHIEVEMENTS RECORDED BY THE NPF-NCCC<\/p>\n<p>NPF-NCCC ARRESTS ONE WILFRED BONSE IN CONNECTION WITH PATRICIA SECURITY BREACH AND COMPLEX FINANCIAL FRAUD<\/p>\n<p>Similarly, the NPF-NCCC has made significant strides\u2026<\/p>\n<p>\u2014 Nigeria Police Force (@PoliceNG) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/PoliceNG\/status\/1727933517105873394?ref_src=twsrc%5Etfw\">November 24, 2023<\/a><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">The statement issued by the NPF revealed that Bonse was apprehended for his alleged involvement in the theft, conversion of cryptocurrency wallets, and unauthorized fund diversion from Patricia Technologies.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bonse\u2019s Arrest Brings Hope to Patricia Technologies<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">The arrest of Bonse brings a glimmer of hope for Patricia Technologies, a crypto trading company that faced significant scrutiny following a hacking incident in May.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The breach resulted in substantial losses of customer funds, prompting Patricia to take action.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In response to customer concerns, Patricia\u00a0<\/span><span data-preserver-spaces=\"true\">converted the value of customer assets<\/span><span data-preserver-spaces=\"true\">\u00a0into its native Patricia Token (PTK), with a promise of future repayment.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The company emphasized its commitment to integrity and customer trust, introducing PTK as an internal customer holding.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">To facilitate asset recovery after the security breach, Patricia pledged to reimburse holders with 1 Tether (USDT) token for each Patricia Token.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It\u2019s important to note that PTK functions as an internal token representing debt and is managed by the company, rather than being an on-chain token.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">To further address customer concerns, Patricia enlisted DLM Trust as an escrow agent in October to facilitate the distribution of customer repayments.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, disagreements between Patricia and DLM resulted in the withdrawal of the trust company.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite this setback, Patricia reaffirmed its intention to proceed with the repayment schedule this month.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As\u00a0<\/span><span data-preserver-spaces=\"true\">reported<\/span><span data-preserver-spaces=\"true\">, Nigeria is one of the most crypto-savvy nations, even ahead of the United States and European countries.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Nigeria\u2019s crypto awareness stands at 99% as the country leads in digital asset knowledge and perceived investment drive.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">15,158 survey participants aged 18- 65 were polled from 15 countries to determine the global acceptance of Web3 and how its utility and \u201c<\/span><em><span data-preserver-spaces=\"true\">technicalities\u201d\u00a0<\/span><\/em><span data-preserver-spaces=\"true\">have been broken down to give a clearer insight into the future.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Per the data, 99% were fully aware of cryptocurrencies while 70% understood the value, operations, and fundamentals of blockchain technology.\u00a0<\/span><\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/nigerian-politician-arrested-for-246153-theft-from-patricia-technologies-crypto-wallet.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: AdobeStock \/ Faraz The Nigeria Police Force (NPF) has announced the arrest of a politician in connection with the theft of over 200 million naira (approximately $246,153) from Patricia Technologies\u2019 crypto wallet.\u00a0 In a recent post on X (formerly Twitter), the NPF said the arrest of Wilfred Bonse was made following an investigation conducted [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":88914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-88913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nigerian Politician Arrested for $246,153 Theft from Patricia Technologies&#039; Crypto Wallet | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: AdobeStock \/ Faraz The Nigeria Police Force (NPF) has announced the arrest of a politician in connection with the theft of over 200 million naira\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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