Fejiro Hanu, CEO of Nigerian cryptocurrency exchange Patricia, has refuted rumors circulating about the exchange's closure, dismissing them as a sensationalized ploy by the media for click-bait. Hanu assured stakeholders that Patricia is still operational and functioning.
Despite facing heightened scrutiny following a hack in May 2023, which resulted in substantial losses of client funds, Patricia continues to operate. However, customers have encountered ongoing difficulties accessing their funds since April 2023, leading to concerns about a potential exit scam and raising questions among users whose funds remain inaccessible.
Hanu criticized media outlets for distorting the narrative and sensationalizing the situation to garner more attention and serve their own agendas. Patricia has taken steps to address customer concerns, including converting asset values into its native Patricia Token (PTK) in October 2023 to safeguard future repayments, underscoring the company's commitment to integrity and client trust.
Patricia has pledged to compensate holders with 1 Tether Token per Patricia Token, aiming to facilitate asset recovery post-security breach. Although PTK is not an on-chain asset, it serves as an internal token managed by the company to represent debt owed to clients. Hanu provided an update on Patricia's status, assuring users that Nigeria's security services are actively involved in the case and efforts are underway to resolve the issue.
In November 2023, the Nigeria Police Force arrested politician Wilfred Bonse in connection with the theft from Patricia's crypto wallet. Bonse stands accused of stealing over N200 million ($246,153) from Patricia Technologies' crypto wallet, facing charges including criminal conspiracy, unauthorized alteration of computer systems and network data, and illegal fund transfers, as detailed in the petition submitted to the Inspector General of Police.
