Nigerian users of the Moniepoint payment platform have suffered a significant financial loss after a recent cyberattack resulted in over N1.1 billion being fraudulently withdrawn from their accounts.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that the breach, which occurred in late 2024, exploited vulnerabilities in the platform’s security system, allowing unauthorized access to user funds.
“Naija247news understands that the incident has left many users, including businesses and individuals, financially distressed and deeply concerned about the security of their online transactions,” a source close to the matter revealed.
Moniepoint, a popular fintech platform known for its digital banking and payment services, has acknowledged the breach and is actively working to mitigate the damage and restore user confidence.
“Naija247news reports that the company has assured users that it is cooperating with law enforcement agencies to investigate the incident and bring the perpetrators to justice,” a statement from Moniepoint read.
The company has also implemented measures to enhance its security protocols and prevent future attacks.
“Naija247news gathered that these measures include strengthening password requirements, implementing multi-factor authentication, and enhancing fraud detection systems,” the statement added.
This incident serves as a stark reminder of the growing threat of cybercrime and the importance of robust security measures for online platforms handling sensitive financial information.
