COLA Platform Restores Services After Cyberattack

COLA Platform has officially announced the restoration of its services, which were suspended for nearly two years due to a malicious cyberattack that occurred on October 25, 2024. The company issued an apology to users and unveiled a compensation package for affected account holders.

The cyberattack forced the platform to halt operations for 420 days while it undertook technical recovery efforts to fully restore user data. Users can now access their accounts through the original application, and those who had accounts will have their existing balances transferred to the new platform.

Eligible account holders will receive a compensation package valued at approximately 600,000 naira, with each user set to receive 300cc, subject to the platform's terms and conditions. The company has also implemented multiple security upgrades and an emergency response mechanism to prevent similar incidents in the future.

Users can withdraw funds from their accounts once the new platform is fully operational.