Law enforcement in Nigeria has detained a politician alleged to be involved in attempting to launder digital assets stolen from the cryptocurrency exchange platform, Patricia Technologies. The accused, Wilfred Bonse, reportedly conducted fraudulent transactions totaling over $60,000 from the $750,000 stolen funds, transferring them into his bank account.

Earlier this year, Patricia Technologies suffered a breach resulting in the loss of digital assets exceeding $2 million. The cyberattack created a significant financial deficit for the crypto platform, prompting efforts to secure funds for reimbursing affected users.

Prince Olumuyiwa Adejobi, the spokesperson for the Nigerian police, declared Bonse’s arrest, stating, “Wilfred Bonse engaged in the complex crime by participating in the laundering of Fifty Million Naira (N50,000,000) derived from the fraudulent diversion of Six Hundred and Seven Million Naira (N607,000,000) from Patricia Technology company’s account. These funds were channeled to his bank account through a cryptocurrency wallet.”

Adejobi affirmed that ongoing investigations aim to apprehend all individuals involved in the hacking incident and ensure justice is served.

Expressing gratitude, Patricia acknowledged the Nigerian law enforcement agencies for Bonse’s arrest. CEO Hanu Fejiro highlighted that the recovered funds would significantly aid in compensating affected Patricia users.

Recent developments unfolded following the confirmation of Bonse’s arrest and the retrieval of a portion of the stolen funds. This news surfaced shortly after Patricia announced the commencement of refunding procedures for the initial group of affected users.