Reporting on Fintech, Bitcoin, Ethereum, Blockchain and Cryptocurrency News in Nigeria

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New Cyber Security Threats For Nigeria Telecom Users Identified

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The Nigerian Communications Commission’s Cyber Security Incident Response Team (NCC-CSIRT) announced the identification of two cyber wide-open threats and advised Nigerian telecom consumers on ways to get protected from cyber-attacks.  This will be CSIRT, first-ever security advisory three months after its…

The Biggest Crypto Heist; Poly Network Hackers Ready To Return Loot.

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The invisible poly network hacker who stole over $600 million cryptocurrency funds has announced his willingness to return the loot. According to Etherscan, at about 4:00 am UTC, on Wednesday, the hacker sent an Ethereum transaction to themselves stating that…

FBI Jumps Into the Alleged South African Mirror Trading Crypto Scam in 2020

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The Federal Bureau of Investigation is joining investigators into one of the largest alleged crypto scams of 2020. Investigations into the notorious South African company Mirror Trading International (MTI) Bitcoin (BTC) Ponzi scheme — are now engaging the United States…

NITDA Declares That Cybersecurity Is Essential For Digital Asset Protection.

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Several months after the Central Bank of Nigeria (CBN) declared that Bitcoin and other cryptocurrencies were not legal tenders in Nigeria. Various Financial bodies in the country have begun to pay extra attention to the activities of the Digital space….

Ray Youssef of Paxful Shares his Thoughts on CBN’s Cryptocurrency Ban/Legitimacy in Nigeria

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The Chief Executive Officer of Paxful, Mr. Ray Youssef, who was in Lagos recently to dialogue with government officials, in this interview advises on the way forward for cryptocurrency business and adoption in Nigeria,  This interview was conducted by Dike…

Hotbit Exchange shuts down for Two weeks over an attempted cyber-attack.

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Cryptocurrency exchange Hotbit has shut down all of its services after an attempted cyberattack on Thursday, 29 April 2021 According to the Hotbit announcement on telegram, The hackers were reportedly unsuccessful in gaining access to Hotbits’ wallets but did manage…

The Economic and Financial Crimes Commission (EFCC) cautions Nigerians against Bitcoin, forex trading, and other financial investments.

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Three months after Nigeria’s central bank restricted financial institutions from dealing with crypto-related companies and securities, The Economic and Financial Crimes Commission (EFCC) has warned Nigerians against what it described as an investment that promises returns that look too good…

Latest Report Shows a Decrease in the Rate of Blockchain Attacks in 2020

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There has been a drastic decline in the rate of cryptocurrency and Blockchain hacks through the course of the year; 2020.

$24 Million Lost in Another DeFi Flashloan Economic Attack.

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Harvest Finance a DeFi based project developed under Kava Blockchain has been attacked in a recent flashloan economic attack resulting in a $24 million loss off the protocol.

Trezor Wallet User Loses Funds to Hackers Despite Keeping the Seed Phrase Safe

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Tezor wallet user loses funds to hackers, though he was able to secure his private keys and haven’t’ used the wallet for days.