Fejiro Hanu, the CEO of the Nigerian cryptocurrency exchange Patricia, has dismissed rumors of its closure, labeling them as a media strategy to attract attention, and confirming that the exchange is still in operation.
In a statement on X, Hanu stated that despite providing interviews and sharing information with the media, they distorted the narrative to generate more views and serve their own agenda. Patricia faced scrutiny after experiencing a hacking incident in May 2023, resulting in a significant loss of customer funds.
Despite assurances that customer funds were safe, users have faced ongoing difficulties in accessing their funds since April 2023. This lack of access to funds has fueled speculation about a potential exit scam, causing concerns for customers with funds stuck on the platform.
In a recent post on X, Hanu declared that even though they had given interviews and shared information with media outlets, the media twisted the story to gain more attention and conform to their agenda.
In response to customer requests, Patricia converted the value of customer assets into its native token, Patricia Token (PTK), in October 2023, ensuring future repayment. Patricia emphasized its commitment to integrity and customer trust by introducing PTK as an internal customer asset.
Patricia stated that it is dedicated to reimbursing holders with 1 Tether (USDT) token for each Patricia token, guaranteeing the recovery of assets after the security breach. Patricia clarified that PTK is not an on-chain token but represents debt and is managed internally by the company.
According to the X post, Hanu provided users with an update on Patricia’s status and assured them that Nigerian security services are handling the case. Hanu mentioned that Patricia is currently awaiting the prosecution and conviction of the individuals involved, emphasizing that efforts are being made to resolve the situation.
In November 2023, an arrest was made in connection with the crypto wallet theft at Patricia. Politician Wilfred Bonse was apprehended by the Nigerian Police Force (NPF) on charges of stealing over 200 million Nigerian naira ($246,153) from Patricia Technologies’ crypto wallet. The NPF stated that the case includes allegations of criminal conspiracy, unauthorized alteration of computer systems and network data, and the illicit diversion of funds, as outlined in a petition submitted to the inspector general of police.
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