An arrest has been made in connection with the cryptocurrency wallet heist at Patricia Technologies in Nigeria. According to a spokesperson for the Nigerian Police Force, Wilfred Bonse, a Nigerian politician, has been apprehended. He is accused of stealing over 200 million naira ($246,153) from Patricia Technologies’ crypto wallet.

Furthermore, the arrest follows an investigation conducted by the National Cybercrime of the NPF, revealing significant progress in the case.

Nigerian Politician Accused in Patricia Technologies’ Crypto Wallet Heist

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The Force Public Relations Officer, Olumuyiwa Adejobi, issued a statement on Friday disclosing the details of the arrest. Moreover, Bonse is accused of collaborating with hackers in laundering 50 million naira ($61,538) from the stolen funds.

Furthermore, 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.

Additionally, according to the statement, Bonse played a role in the unauthorized diversion of 607 million naira ($747,076) from Patricia Technology’s account.

The funds were allegedly transferred to his bank account through a cryptocurrency wallet. The ongoing investigation involves multiple individuals, with some still evading law enforcement.

Relief for Patricia Technologies

This development potentially brings relief to Patricia Technologies, which faced intense scrutiny following a hacking incident in May that resulted in significant customer fund losses.

Additionally, in response to customer concerns, Patricia took measures to convert the value of customer assets into its native Patricia Token (PTK), assuring customers of future repayment. Interestingly, the company emphasized its commitment to integrity and customer trust, introducing PTK as an internal customer holding.

Notably, the arrest of Wilfred Bonse marks a significant step in addressing the Patricial Technologies heist, and the investigation continues.

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