Nigerian crypto trading platform, Patricia, suffers security breach

Patricia CEO Hanu Agbodje

28th May 2023 – (Abuja) Nigerian crypto and gift card trading platform, Patricia, has suffered a security breach which has led to the compromise of its Bitcoin and Naira assets. As a result, the platform has temporarily suspended fund withdrawals. The company has not disclosed the extent of the assets affected, but it revealed that it has identified an individual involved in the syndicated group that carried out the breach. The company has enlisted the services of a security firm to conduct an audit and is working with law enforcement to recover the assets. The suspension of withdrawals has caused inconvenience to users, but the company assures customers of ongoing efforts to enhance the platform’s security measures.

Patricia Personal, the affected arm of the business, will regain the ability to withdraw funds once it receives clearance for operations. Nigeria’s Central Bank does not recognise cryptocurrency as legal tender, and in February 2021, it banned commercial banks in Nigeria from engaging in cryptocurrency transactions.