Fejiro Hanu, the CEO of Nigerian cryptocurrency exchange Patricia, has categorically denied the rumors suggesting that the exchange is shutting down. Hanu dismissed these claims as a mere media tactic to generate more clicks and confirmed that Patricia is still fully operational.
In a recent post on a popular platform, Hanu expressed his disappointment with the media’s distortion of the truth. Despite granting interviews and providing information to various media outlets, they sensationalized the narrative to attract more views and advance their own agendas.
Patricia came under scrutiny after a hacking incident occurred in May 2023, resulting in a significant loss of customer funds. Despite assuring customers that their funds were secure, users have faced ongoing difficulties in accessing their accounts since April 2023. This lack of access has fueled speculation about a potential exit scam, causing anxiety among customers who have funds trapped on the platform.
Responding to customer requests, Patricia converted the value of customer assets into its own native token, called Patricia Token (PTK), in October 2023. This move was aimed at ensuring future repayment and reinforcing Patricia’s commitment to integrity and customer trust. Patricia clarified that PTK is an internal token representing debt and is not on the blockchain. The company has committed to reimbursing PTK holders with 1 Tether (USDT) token for each Patricia token, guaranteeing asset recovery after the security breach.
In the aforementioned post, Hanu provided users with an update on Patricia’s current status and assured them that the Nigerian security services are actively working on the case. Hanu emphasized that efforts are underway to bring the culprits to justice and resolve the situation.
In November 2023, an arrest was made in connection with the Patricia crypto wallet heist. Wilfred Bonse, a politician, was apprehended by the Nigerian Police Force (NPF) for allegedly stealing over 200 million Nigerian naira ($246,153) from Patricia Technologies’ crypto wallet. The NPF has filed a petition with the inspector general of police, outlining charges of criminal conspiracy, unauthorized alteration of computer systems and network data, and the illicit diversion of funds.
In related news, an analysis of crypto hacks revealed the favorite exploit of the Lazarus Group, a notorious hacking group.