A Nigerian returned $80K bitcoins transferred to him in error

According to a report by Radio France Internationale, a Nigerian returned to the rightful owner bitcoins worth $80,000 that mistakenly transferred to his account. The Nigerian who found $80,000 dollar’s worth of bitcoin in his account that mistakenly transferred to him has been returned to the owner by him.

Keith Mali Chung woke up to find 7.8 bitcoins in his account. That is the equivalent of $80,000 or €72,302. He immediately began trying to track down the owner of the bitcoins.

“I trade in bitcoin, but never such a high amount,” Mali Chung explains on the phone from the Nigerian capital, Abuja and continues, “I knew it had to be a mistake so I posted an announcement via some WhatsApp groups to track down the owner.”

Three days passed and no-one responded, so Mali Chung took to Twitter to track down the owner. That prompted a response from someone who had the correct encryption code for the transaction.

Keith Mali Chung said he received huge sum of BTC from an unknown sender and it is definitely a mistake from someone I must have had a transaction with before, Kindly DM me the time of transaction, your address and exact digits sent.

The owner of the bitcoins mistakenly transferred to Mali Chung is a Nigerian politician who has asked to remain anonymous.

bitcoins transferred

Nigeria is plagued by political cronyism and consistently ranks among the lowest 20 per cent on Transparency International’s Corruption Perception Index. Though, Nigeria has been plagued by political cronyism and consistently ranks among the lowest 20 per cent on Transparency International’s Corruption Perception Index..

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In June, the Paris-based Financial Action Task Force announced that cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering.

The move by FATF, which groups countries from the United States to China and bodies such as the European Commission, reflects a growing concern among international law enforcement agencies that cryptocurrencies are being used to launder the proceeds of crime.

Although these changes are aimed at making Nigeria a cashless society, they are also pushing ordinary people, as well as the elites, to find other ways to transfer money digitally. Mali Chung travels around Nigeria giving free workshops about the potential of bitcoin and other cryptocurrencies.

“People are especially interested in learning about international transfers to avoid bank fees,” Mali Chung has observed. “People in the Diaspora use it to send money home, and people here also transfer bitcoin to relatives abroad.”

The Central Bank of Nigeria has yet to regulate cryptocurrency transactions. Mali Chung’s benevolent act has sparked a debate about the potential positive and negative use of cryptocurrencies in a country with an ominous reputation in the world of banking and for political corruption.

Culled from FM News Nigeria | Nigerian returns $80K bitcoins transferred to him in error

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