TradeFada CEO Seun Dania commends police arrest of Patricia hackers

Seun Dania, CEO of Nigerian crypto exchange TradeFada and one of the pioneers of crypto and blockchain in Nigeria has commended last week’s arrest of suspects linked to the infamous Patricia exchange hack. 

Recall that last week, we reported how the Nigeria Police Force announced the arrest of one Wilfred Bonse, 2024 Cross River gubernatorial candidate as one of the suspects connected to the February 2022 breach of crypto exchange Patricia which led to a $2 million loss.

Read here: Cross River governorship candidate Wilfred Bonse arrested in connection with Patricia hack

Now, Seun Dania, who earlier in the year invested an undisclosed amount in the embattled crypto company, has applauded the Nigeria Police Force. He has also renewed his commitment and support for Patricia Technologies. 

Police arrest Patricia hack suspect

Last Friday, the Nigeria Police Force announced the arrest of one Wilfred Bonse as one of the suspects connected to the February 2022 breach of crypto exchange Patricia which led to a $2 million loss. 

This announcement was made in a press briefing by the Force Public Relations Officer, ACP Olumuyiwa Adejobi. The officer announced it in a footage and caption posted on the NPF official Instagram page.

Background check by Technext showed that Wilfred Bonse was a gubernatorial candidate for the New Nigeria Peoples Party (NNPP) in Cross River state, during the March 2023 governorship election. Also, Peoples Gazette earlier reported in February that Wilfred Bonse was accused of benefiting at least N40 million from a cyber fraud scheme executed by a group of hackers identified as The Syndicate.

According to the NPF statement, Wilfred Bonse conspired to launder Fifty Million Naira (N50,000,000) originating from the fraudulent diversion of Six Hundred and Seven Million Naira (N607,000,000:00k) from Patricia Technology company’s account to his bank account through a cryptocurrency wallet.

In a private conversation with Technext, Hanu Fejiro said Wilfred Bonse is one of the kingpins in the hack. 

“The hackers used politicians to launder the stolen money, all of whom would be brought to the book. There are current members of high political office yet to be announced.” – Hanu said.

According to the CEO, his team is currently proceeding to the court, with the hope of recovering as much funds as they can. 

“We wait on recovering and once it happens, the police would make that announcement and that would go towards repaying the lost funds,” Hanu added in the conversation with Technext.

Seun Dania commends the arrest 

In a profound interview, Seun Dania commended the successful efforts of the Nigerian Police Force in apprehending the perpetrators behind the security breach at Patricia.

He also highlighted the significance of this development in restoring trust not only in Patricia Technologies but also in the African startup ecosystem at large. Additionally, Seun Dania emphasized that the apprehension of criminals by the police is a crucial step in dispelling concerns of funds mismanagement and in reaffirming the integrity of Patricia Technologies.

While expressing his unwavering support for Patricia Technologies, Dania pointed out that such incidents, though challenging, test the resilience and potential of startups. He reiterated his commitment to invest in Patricia, not just financially but also in aiding them to rebuild a more secure platform.

Read also: TradeFada’s Seun Dania invests in crypto company, Patricia Technologies

While addressing the affected users, Dania expressed deep empathy and reassured them of Patricia’s dedication to rectifying the situation and preventing future breaches. He underscored the importance of community support in overcoming such challenges and the vital role of startups in driving economic growth and innovation in Africa.

In conclusion, Dania praised the collaborative efforts of Patricia Technologies and law enforcement agencies in addressing the crisis. He urged the community to continue supporting local businesses, highlighting their role as pillars of hope and progress in the continent.

It is worthy of note that Seun Dania, CEO of TradeFada was among the first figures in the African crypto space to show public support for the embattled Patricia. We reported how he announced an investment in the company in July.