Nigerian crypto company suspends withdrawals after BTC and naira compromise
Nigerian crypto company, Patricia recently suspended withdrawals following a security breach. According to the team, the halt is a temporary suspension as it undergoes internal restructuring.
By Staff
Patricia, a Nigerian gift card and crypto trading platform recently encountered a security breach, prompting immediate measures to safeguard its users. As a precautionary step, the platform has temporarily suspended fund withdrawals.
The business disclosed that its Bitcoin (BTC) and naira assets had been compromised due to a security breach. In its statement to users, the company revealed to consumers that the compromise had no impact on client funds or any other cryptocurrency. However, customers cannot withdraw money from the platform while internal restructuring is taking place.
Although Patricia did not disclose the extent of assets compromised in the breach, it revealed that an individual among the syndicated group that perpetrated the breach had been identified with the help of law enforcement. It said it would continue to work with law enforcement and other partners to recover the assets.
Since the suspension of withdrawals on the platform, its users have taken to Twitter to express their opinions, citing inconveniences. Nonetheless, the company emphasizes its ongoing efforts to enhance the platform’s security measures.
According to reports, the specific person within the group was identified through compromised naira assets, with most of the naira assets being linked back to that individual.
To enhance the security of the platform, the company has enlisted the services of a security firm to conduct an audit. Once the affected arm of the business, that is to say, Patricia Personal receives clearance for operations, customers will regain the ability to withdraw their funds.
