The Nigerian fintech unicorn, Flutterwave, has said reports suggesting that hackers stole approximately $6.3 million from client accounts are not true. In a statement issued on March 5, the fintech insisted that no user lost any funds and that corrective action taken had in fact enabled it to “address the issue before any harm could be done to our users.”

Flutterwave’s statement denying the hacking claims followed a Techpoint report which suggested that as much as $6.3 million (2.9 billion naira) had been siphoned from users’ accounts. According to the report, the hacking incident is thought to have occurred in early February and Flutterwave is believed to have reacted to this by filing a motion to freeze accounts in as many as 27 financial institutions.

While the statement suggested that Flutterwave is working with “other financial institutions and law enforcement agencies to keep our ecosystem safe and secure,” the fintech firm however insisted it only took action after detecting anomalies on some users’ accounts.

(By Terence Zimwara)