Hackers Breach Nigerian Crypto Trading Platform — BTC and Naira Assets Compromised

The Nigerian gift card and crypto trading platform, Patricia, announced on May 26 that one of its trading applications had been breached and that BTC as well as naira assets were compromised. The crypto exchange platform said it has since suspended withdrawals and is presently “undergoing internal restructuring.”

Patricia Says Customer and Merchant Assets ‘Secure’

The Nigerian gift card and crypto exchange platform, Patricia, revealed on May 26 that hackers had breached its retail trading application leaving an undisclosed amount of BTC and naira assets compromised. According to an update issued by the firm, other crypto balances were not affected by the breach. Patricia also reassured the public that the assets belonging to its customers and merchants were still secure.

Hello Chief,

We have a much needed update for you. #patriciatechnologies #cryptocurrencies pic.twitter.com/AcOIdIE8Vu

— Patricia (@PatriciaSwitch) May 26, 2023

However, despite the statement which sought to assuage users of the platform, Patricia said it had stopped processing withdrawals.

“In light of this, we are undergoing internal restructuring and temporarily suspending withdrawals on our app (mobile and web). We understand how this has affected our customers and are truly appreciative of your patience through this inconvenience. We assure you we are working to strengthen our security measures,” Patricia said in a statement.

According to the update, Patricia’s security team and local law enforcement have since identified an individual who is thought to be a part of a group of hackers behind the breach. The crypto platform also said it will “pursue this lead” and collaborate with security agencies until it recovers the missing assets.

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