Three Nigerian fintechs have lost over N5 billion to hackers in the first 8 months of this year as cases of hacks and frauds increase within the ecosystem.
While there are many more incidences involving undisclosed amounts running into billions, Nairametrics gathered that the situation is getting more complicated as some of the heists had members of staff of the fintechs involved.
According to different sources in the industry, this has now become a major challenge for the fintech companies in Nigeria.
More worrisome for the fintechs is the fact that an attack could also come through another connected fintech, hence, a well-secured platform could get compromised through another connected platform with poor cyber security systems.
