INTERPOL Nabs Lagos Web Developer Who Hacked Blockchain, Looted $87m Crypto and Billions of Naira

Newsflash Nigeria StaffJuly 15, 2023

1 minute read

Blockchain technology is supposed to be secure and transparent, but that did not stop a web developer from hacking his company’s platform and stealing billions of naira from investors.

The suspect, Abayomi Segun Oluwasesan, was arrested by INTERPOL in Nigeria along with his accomplice after a massive fraud scheme that spanned several countries.

Abayomi was hired by Afriq Arbitrage System, a global crypto space, on June 15, 2022 as a web developer.

He was entrusted with the sensitive data and codes for the smooth operations of the company by his boss, Jesam Micheal, who went for a liver transplant.

However, instead of being loyal to his employer, Abayomi abused his access and hacked the platform with the help of his cohorts.

He disrupted the operations of the platform and siphoned hard-earned investors’ money running into several billions.

According to reports, he withdrew at least $87 million which he spent lavishly on various assets.

He opened a car dealership known as Fidoray Autos and imported over 30 exotic vehicles.

He also bought a house and acquired residence permits in the United Kingdom, Tanzania and Dubai.

He invested in real estate and hospitality businesses, buying a plaza in Lagos for N450 million, landed properties around Dangote refineries for N1 billion, and spending another billion naira on the interior decoration of his hotel in Mainland, Lagos State.

His extravagant lifestyle did not go unnoticed by the authorities, who tracked him down and arrested him earlier in the week.

He is currently facing charges of cybercrime, money laundering and fraud. His accomplice was also apprehended and is being interrogated by the police. The victims of his scam are hoping to recover their money and get justice for their losses.