The CEO of Patricia, Nigeria’s first local cryptocurrency exchange, Fejiro Hanu, has refuted reports that the company is closing, branding them as a clickbait media stunt. He confirmed that there is continuing communication.
Hanu vented his displeasure on X, saying that even though she gave interviews and shared material with media outlets, they still twisted the story to suit their objective and garner attention. Hanu stated:
“Hate/bad news doesn’t spread as quickly as good news. Thus, everyone latches onto a story quickly.”
After a major loss of customer monies due to a hacking event in May 2023, Patricia Technologies was placed under close examination.
Although customer money were said to be secure, users have been having trouble accessing them ever since April 2023. The inability to access users’ assets led to conjecture about possible exit scams, which instilled anxiety among those who had money locked on the platform.
Hanu expressed anger in a recent post on X, complaining that even though he had interviews and shared information with media outlets, they had distorted the story to fit their own goal and get more attention.
Patricia guaranteed future payments by converting the value of the customer’s assets into its native Patricia Token (PTK) in response to their demands. Patricia introduced PTK as an internal customer asset and underlined the company’s dedication to honesty and customer trust.
Patricia pledged to ensure asset recovery following the security compromise by returning holders with one USDT token for each Patricia token. Patricia said that PTK is an internal coin that represents debt and is maintained by the corporation; it is not on-chain.
Hanu gave users an update on Patricia’s condition in the post on X and reassured them that the problem is being actively handled by the nation’s top security agencies.
Hanu stated that they are presently anticipating the other suspects’ prosecution and conviction. He underlined that it takes time to handle these matters appropriately and gave his word that efforts are being made to find a solution.
An arrest was made in November 2023 in relation to the Patricia cryptocurrency wallet theft. Politician Wilfred Bonse was detained by the Nigeria Police Force (NPF) on suspicion of stealing more than 200 million naira ($246,153) from Patricia Technologies’ cryptocurrency wallet.
According to a petition presented to the inspector general of police, the NPF stated that the case involves criminal conspiracy, the unlawful change of computer systems and network data, and the illicit diversion of cash.
May 2024, Cryptoniteuae
