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Twitter abuzz over withdrawal of ‘$51k worth of bitcoin’ from #EndSARS funds by Feminist Coalition

Twitter abuzz over withdrawal of ‘$51k worth of bitcoin’ from #EndSARS funds by Feminist Coalition
March 12
21:44 2021

The Nigerian twittersphere is buzzing over the alleged withdrawal of $51,000 worth of bitcoin from the #EndSARS donation account by the Feminist Coalition.

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The Feminist Coalition is one of the groups that provided support during protests against the now disbanded special anti-robbery squad (SARS).

During the #EndSARS protests in 2020, the coalition had asked supporters to make donations via bitcoin, after government authorities reportedly blocked its account.

As the demonstrations ended across the country, the group had put a stop to donations, and also announced a breakdown of how the remaining funds — about N87 million — would be disbursed.

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However, on Friday, a Twitter user, @Rx_Deyholar, had taken to his handle to allege that the Coalition had “silently” moved $51,000 worth of bitcoin to a newly generated account with just one transaction history.

In reaction, another Twitter user, @von_Bismack, said he would personally sign a petition with the Economic and Financial Crimes Commission (EFCC) if the coalition fails to give an account of the funds, while other handles joined in the call demanding an explanation.

The Coalition has, however, released a statement showing an account of funds received and spent.

According to the statement, the bitcoin withdrawal was part of a sale for N57,590,000 with a third party between November 16 and December 1, 2020.

They attributed the delay in confirming the transaction to clog in the bitcoin network.

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