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How Nigerian web developer hacked, stole millions of dollars from crypto trading platform he was hired to build

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Details of how a Nigerian website developer, Abayomi Oluwasesan hacked and stole hundreds of millions of dollars from Afriq Arbitrage System (AAS), a cryptocurrency trading platform he was hired to build has emerged.

The fouunder and chief executive of AAS, Jasem Michael at a press briefing in Abuja told newsmen that he entrusted the safety of investors funds to Abayomi when he had a medical emergency. However, before he could return to work after he underwent a liver transplant, Abayomi had hacked the AAS system and stolen USDT stablecoins valued at several hundreds of millions of dollars.

Jasem Michael

According Michael, while he was in the hospital, Abayomi had changed all the credentials of AAS to his hoping that the CEO would not survive the liver transplant. He had also stolen nearly half of the crypto assets in the AAS system meant for investors withdrawals and acquired landed properties around the world, as well as established an automobile company and hotels in Lagos.

Abayomi had since been apprehended by INTERPOL Nigeria after he was tracked down from Tanzania to Dubai and to Nigeria.

Michael said Abayomi had lied that Arabian hackers were the brain behind the heinous crime.

According to Michael, AAS was built on top-notch security architecture which defends itself against any aggressive attacks from external sources or forces. It was therefore a shock to him that the system was hacked, hinting that he knew it was an insider who could vandalise the platform.

However, just like the biblical story of how Judas betrayed Jesus Christ, Abayomi Segun Oluwasesan, who was employed by his boss on the 15th of June, 2022 to work as a web developer, literally hacked the platform at a time when his boss, Jesam Micheal went for a liver transplant and entrusted the codes to him.

Overwhelmed by greed, Abayomi who was entrusted with the sensitive data for the smooth operations of the company, engaged the services of his cohorts, disrupting the smooth operations of the platform and stealing hard-earned investors’ money running into several billions.

Abayomi (in dread locks) during one of his several rock & roll travels around the world after hacking AAS

Independent checks revealed that AAS is a global phenomenon with over 100,000 investors from over 75 counties. Thinking his employer, Jesam Micheal would not survive the operation, he withdrew several millions of dollars and became an instant rich dude with an astonishing flamboyant lifestyle overnight. He became the owner of a car dealership known as FIDORAY Autos and imported over 30 exotic wonders on wheels. He acquired Tanzanian and Dubai citizenship. Aside from that, he bought state-of-the-art properties in the UK, Dubai, Tanzania, and Nigeria. One of the plazas he acquired in Lagos was to the tune of N450m, landed properties around Dangote refineries to the tune of N1b, and splashed a billion naira on the interior decoration of the Mesh 3-star hotel in Mainland, Lagos State. A nobody Abayomi was traveling across the globe with investors’ money on first-class tickets. His dubious activities literally crashed the lucrative platform on the 15th of May, 2023.

However, the long arm of justice caught up with him when his boss survived the health challenge and was shocked to discover the criminal activities of Abayomi who went AWOL on hearing about the recovery of Jesam Micheal. Thus, the manhunt for his arrest began spearheaded by his boss, Jesam Micheal, alongside the INTERPOL. He was eventually arrested and willingly admitted by confession that he was guilty of stealing the investors’ money blindly. His crimes bother on financial crimes, data theft, cyber security crimes, and fraudulent takeover of the online financial platform to perpetrate cyber financial crimes.

Sadly, his criminal activities have left investors in the throes of suicide, pain, and agony as their hard-earned money and lifetime investments were stolen callously by Abayomi. In an emotionally laden voice, some of the investors narrate their ordeals on how the unfortunate incident has crashed their world and left them in pain.


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