Nigerian politician Bonse nailed for crypto heist

The scandal has torpedoed Bonse's political career.

Nigerian politician Wilfred Bonse has been arrested for the theft and conversion of cryptocurrency wallets. Bonse assisted hackers in laundering 50 million naira. ($61,538) The Patricia Technologies case includes criminal conspiracy, the unauthorized alteration of computer systems and network data, and the illicit diversion of funds exceeding 200 million naira. ($246,153)

Patricia Technologies faced scrutiny after the hacking incident in May resulted in a loss of customer funds. Bonse benefited from a cyber fraud scheme executed by a group of hackers identified as The Syndicate. They intended to bankrupt Patricia Technologies.