Patricia breached, bitcoin and naira stolen.

[Charles-Tim]

I hope you know what Patricia is? A platform located in Nigeria that you can trade bitcoin, few other cryptocurrencies and gift cards. But I think it offers more, which you can see in the image below:

This is another example of not your key not your coin. Withdrawal as been suspended on Patricia indefinitely.

https://twitter.com/PatriciaSwitch/status/1662049215772516352?t=BTNf10Oo158vorot9LlNsw&s=19

If you do not trade, move your coins out of any exchange to a reputed noncustodial wallet. Cold wallets which are safer are recommended. I have opened account on Patricia before, not that good for trading as only few coins are listed and not supporting derivatives market. I am surprised that some people still trade and leave their coins and naira on Patricia.

[Hyphen(-)]

From suspension of withdrawals to we are sorry our exchange has been hacked  .

All this statements wey them they give na just to calm people down, they are supposed to allow the customers withdraw their money before they continue to face the security challenges they are facing.

This is another example of not your key not your coin. Withdrawal as been suspended on Patricia indefinitely.

Exactly, Not your keys not your coin.

I think it is time for our people to say goodbye to keeping our coins in centralize exchanges because even the reputable centralize exchange cannot be trusted anymore. Therefore make we just they trade for there and send our money back to the wallets we have our private keys with us.

[Doan9269]

It's sucks seing exchanges falling down each day, this is not about being a reputable one or not because am even hearing about this for the first time, you can't expect me to use those kind of exchanges where Binance itself is not having a super priority preference on my end, except i want to use it for a quick exchange, have your financial investment with them and always be on the run for fear of loosing it all at any time or have a decentralized digital wallet as cold storage and have peace of mind, it's really a game of not your keys not your coins

[Charles-Tim]

From suspension of withdrawals to we are sorry our exchange has been hacked  .

Maybe. But all I know is that I got their email message yesterday, and another same message today again, both containing exactly what is on twitter, on the image above. Their active customers will be the one that will know much about this, but I am not one of them. I just want to make this clear because I did not get any message from them about only withdrawal suspended and not giving reason. The last email before this disappointing email was on 19th of this month which was able the launching of their new application.

All this statements wey them they give na just to calm people down, they are supposed to allow the customers withdraw their money before they continue to face the security challenges they are facing.

They may not even have enough bitcoin and naira to pay their users anymore. Another thing is that they know that their customers will panic and may want to withdraw immediately, but thinking that some of their customers can change their mind if they are able to recover all the lost money and said the withdrawal has begin again. But it will be a shock for some people if it leads to something like MT. Gox hack of 2014.

[Igebotz]

From suspension of withdrawals to we are sorry our exchange has been hacked  .

Maybe. But all I know is that I got their email message yesterday, and another same message today again, both containing exactly what is on twitter, on the image above. Their active customers will be the one that will know much about this, but I am not one of them. I just want to make this clear because I did not get any message from them about only withdrawal suspended and not giving reason. The last email before this disappointing email was on 19th of this month which was able the launching of their new application.

I got scammed $200 steam card last year on their shitty gift cards exchange service, after uploading the back of my steam card and receipts, they used my card and told me it was invalid, i got back to steam card customer care and was told that my card was redeem by a third party site, that was my final relationship with Patricia. Nigerians, on the other hand, are stupid because I don't see why anyone would leave their valuables on such low-budget sites. I feel bad for the victims but Patricia needed to be stopped

[Hyphen(-)]

All this statements wey them they give na just to calm people down, they are supposed to allow the customers withdraw their money before they continue to face the security challenges they are facing.

They may not even have enough bitcoin and naira to pay their users anymore. Another thing is that they know that their customers will panic and may want to withdraw immediately, but thinking that some of their customers can change their mind if they are able to recover all the lost money and said the withdrawal has begin again. But it will be a shock for some people if it leads to something like MT. Gox hack of 2014.

I thought as much too, but the question here is that, Are they using customers money for external business?

Because if they still have the customers funds they could have allow withdrawal as they will be working on the security bridge they has; nevertheless, I hope they get back strong so that the customers will get to withdraw their funds.

[Charles-Tim]

I thought as much too, but the question here is that, Are they using customers money for external business?

Some bitcoin and naira stolen. So likely Patricia may not be able to pay customers completely as they may all panic to withdraw as fast as possible. But all we know is that the hack led to the withdrawal suspension which is common to all exchanges that had been hacked before.

[SatoPrincess]

Patricia founders should have put systems in place to remedy these kind of situations, I doubt they have a proper cyber security team. I often see their founder living the dream on social media, it gave me the impression that they believe they have nothing to worry about. This is only the first hack, I hope they can fix the situation and refund their clients, it will be such a shame to see such a thriving company go down like that. This should be a warning to their competitors Roqqu to take precautions and also to crypto investors never to hodl their coins in an exchange.

[Asiska02]

I don’t know much about this exchange, but with the replies I’m seeing here, it seems it’s a big exchange that has a lot of customers. Dis na big shame to the company if dey don come dis far and dem still dey face security breach challenges. I’m not trying to encourage dem to do better so dat customers will have confident of their money saved with them but to keep their reputation at least of not losing all customers to their contemporaries. No matter how good an exchange is, it can never be completely relied on and this is just an example of what the forum always frown about not keeping most of your savings with exchanges. I hope the customers are compensated for their money soon.

[Kelward]

I hope you know what Patricia is? A platform located in Nigeria that you can trade bitcoin, few other cryptocurrencies and gift cards. But I think it offers more, which you can see in the image below:

This is another example of not your key not your coin. Withdrawal as been suspended on Patricia indefinitely.

https://twitter.com/PatriciaSwitch/status/1662049215772516352?t=BTNf10Oo158vorot9LlNsw&s=19

If you do not trade, move your coins out of any exchange to a reputed noncustodial wallet. Cold wallets which are safer are recommended. I have opened account on Patricia before, not that good for trading as only few coins are listed and not supporting derivatives market. I am surprised that some people still trade and leave their coins and naira on Patricia.

I just hear of this Patricia, for the first time here. Scams na very big problem for inside online businesses, and problem be say you no know whether the scam na internal or external, because some fraudsters go open business with the aim of defrauding unsuspecting customers. Anyway the biggest lesson wey I don learn for here as a beginner be say e de safe and better to keep our assets for inside a noncustodial wallet, to avoid story for our hard earned money. If this Patricia, dey legit, I hope say make them come back stronger, so people no go loose trust for online businesses in Nigeria.

[Davidvictorson]

~snip~

It hurts when I see Nigerian start-up encountering security challenges like that threatens their existence and reputation. But then again what do you expect from a company that didn't put so much into their security structure. Now they have given more credence to the "Not Your Keys, Not Your Coins" maxim. And again and again why self custody is the path to go. I do not think they have found any culprit as they have claimed. It is all PR to prevent their customers and the public from FUD.

On the other hand, this is a huge wake up call to them. Hacks are not anything new to exchanges. Binance has been hacked. It is what they do after that matters. First thing first is to work on their security infrastructure and second thing which is the hardest is to win by the public trust and confidence because a lot of persons are going to close down their account. They need a great PR team here and their CEO Hanu Fejiro Agbodje has to be at the forefront of it just like CZ did and is doing.

[Amphenomenon]

Only BTC and naira assets affected no other was affected hmm, no offence, I see this as an intentional acts from them like they are just trying to get hold of some bitcoin before the next halving. Surprising to see people still store their coins in such exchange (anyway ignorance is bliss), let's just see what they do next.
But will they face any legal issues if they fails to return the assets, just like FTX?

[Mr.suevie]

This news now is actually not a new thing anymore because centralise exchanges have proven to be unreliable and constantly failed its customers when it comes to delivering of solid services. Well with all the teaching and knowledge I have gather from my short stay here, I have learnt one vital note which is the phrase of not your keys not your coins and its very simple though you just actually have to save your money in place where you are the one with full control and send them to the exchange whenever you actually feel like selling your coins. That way your coins will be safe from any scandals or shenanigan that will ever happen to these centralized exchanges.

[Merit.s]

If exchange like FTX worldwide fit crash,then no be new thing say Patricia crash. I just feel for the victims that their funds was in Patricia because I can't guarantee a refund back of funds,since na Naija wey dey. I guess that those people  that do leave their funds in exchanges are not in this forum because the news of exchange crashing is not new to us anymore,and if anyone here is ignorant of not your keys not your coins,I believe say he go get sense soon when he loss him funds to exchange. This message na especially for newbies wey just come the forum and wey no get idea on the kind of wallet wey them go use dey full charge of their coins. Newbies una fit use electrum wallet,as the wallet easy and safe to use and na only u get access to your coins.

[Nwada001]

I don't even know if they are still around. taught they have been long shut-down earlier before now, because I barely hear of them, Patricia is not that clean from the start I don't know what have been keeping them in business for this long time, they promise a little high rate different from other market but kind of slow with there crediting back then, I'm a victim of there scam which my funds were frozen on there exchange about $500 worth of Bitcoin in 2021 December, i was asked for all sort of verification, ID photos, selfie with my ID to the extent selfie with my ID together with there name written on a paper yet none of this was approved and solid reason was not giving to why my account got frozen, taught it was normal until few of my friends also complained of thesame thing.

For a platform with such a record, although they are not publicly proven to be scumbags, this kind of news is likely to happen anyway. In cases like this, the victims have a very small percentage of getting their refunds, and anyone who is not yet affected should just hope they release their restricted withdrawal very soon, because right now they will not want to allow people to withdraw all their funds at once, for it will completely shut them down. That's if they even have enough funds to cover their depositors withdrawals, because all this centralized system can be so tricky sometimes and joke with people's money in their possession.

[CryptSafe]

Costly mistakes people make which affects them in the long run. Centralised exchange is not secured and safe for keeping of funds. If a centralised exchange well known globally can face hack how much more about this low grade exchange wey no even get better backup sef.

For quite a long time the campaign has been on and people are advised not to store or save their Crypto assets with centralized exchange as they can not be guaranteed of their assets safety but choose not to hear. I sorry for those who lost their bitcoin and funds held under the custody of Patricia exchange.

If the Patricia management are known they should be held accountable for their actions and a backup / repayment plan should be on course by now to remedy the situation.

[Wiwo]

I used that exchange a couple of times to exchange my Bitcoin into naira, but that was a long time ago as I found out that there have some practices that aid more centralization and third-party staff involvement in key features which I see as a security risk and I avoided the exchange.

Apart from exchanging my Bitcoin to naira I never used Patricia to trade in other coins, and I was not surprised when I got the email of withdrawal disable due to security threats but the emails mentioned that customers' funds were affected by the attack.

[DaNNy001]

I don't even know if they are still around. taught they have been long shut-down earlier before now, because I barely hear of them, Patricia is not that clean from the start I don't know what have been keeping them in business for this long time, they promise a little high rate different from other market but kind of slow with there crediting back then, I'm a victim of there scam which my funds were frozen on there exchange about $500 worth of Bitcoin in 2021 December, i was asked for all sort of verification, ID photos, selfie with my ID to the extent selfie with my ID together with there name written on a paper yet none of this was approved and solid reason was not giving to why my account got frozen, taught it was normal until few of my friends also complained of thesame thing.

Thats a whole lot of money ma man, wow!! Sorry to hear you lost that huge amount in that platform. Well as them talk am na only our mistake go fit teach us better lessons because we go make sure say we learn very well from that mistake. Well for me I dey very careful to even save any coins for any platform not even the world most recognised exchange @binance, because all this people just no dey trust worthy.

[Mate2237]

God, this is very bad of them. At least when Paxful was about to short down, they made an announcement that if anyone has coins there should move it out within a specific period of time they gave and why Patricia exchange could not do that to save lives. And one thing why people are keeping their coins in the exchange platforms is because of the recent development of high cost of transaction fees. Because if you keep not exchange and you want to sell, it will make the process very easy.

And not the exchange you see in the net should be used. Most of them are there siphoned coins to their personal wallets so be careful with your dealings with these exchange platforms. Just like as the OP said, "Not your key and not your coins"

[Smartvirus]

Patricia came to lamplight when them do small affiliation with big brother naija 3 abi 4 years ago. Na jow them carry get there poparity and the fact say plenty of our people don dey run crypto matter, plenty of them no understand watin dey. There own be say, them fit leave coin there, dey withdraw am small small as naira through p2p. Them no really get the idea or custodial and non custodial wallet, the dangers of centralisation and most no even know about the "not your keys, not your coins" phrase and how e take dey apply.

The thing way dey be say, them go dey lose until them learn. Like this now, Patricia don exit be this o because, I no sure say them talk the extent of this breech finish plus, the hackers only focus on the most valuable. Them fit still come later and finish the work way them don start.

[Marykeller]

I no know whether na every 3 months wey peso go d use ear hear about exchange wahala. If peso no hear exchange hacking, em go hear sae the CEO of an exchange use people's money to gamble or cruz life. It is now becoming a norm, despite that many people are yet to learn from keeping their coins on exchange.

From suspension of withdrawals to we are sorry our exchange has been hacked  .

That's it na. They no go come out straight to be open and transparent give their customers. They go prefer lying at first after that they go now open up give their customers when they don map out strategy of freezing account withdrawals. The thing be sae the hackers stole $2 million last January after they don the sponsor Big Brother Naija finish.


Believe me as this thing the happen for the crypto world, em d sadden my heart badly. I think Patricia go kukuma d different because of how em take start and also na a young Nigeria guy get am. I was amazed by that fact, that our youth don arrive to run big businesses. I no know sae em go use us cash out big time as Yahoo people. Lesson learn sha. not your keys not your coin

[Wiwo]

Patricia came to lamplight when them do small affiliation with big brother naija 3 abi 4 years ago. Na jow them carry get there poparity and the fact say plenty of our people don dey run crypto matter, plenty of them no understand watin dey. There own be say, them fit leave coin there, dey withdraw am small small as naira through p2p. Them no really get the idea or custodial and non custodial wallet, the dangers of centralisation and most no even know about the "not your keys, not your coins" phrase and how e take dey apply.

I tru mataz you yarn so, me sef na from BB naija I first see their advert and e come be say them be one of the major sponsors of the program, and being among early local crypto exchange, it became appealing to many of the youths and cryptocurrency users who just want to be able to spend their Bitcoin at will and not as if Patricia have good rate their rate is bad and with extra 400 deductions on withdrawals, all this make it very difficult for most learned cryptocurrency users in 🇳🇬 Nigeria.

[CryptSafe]

I used that exchange a couple of times to exchange my Bitcoin into naira, but that was a long time ago as I found out that there have some practices that aid more centralization and third-party staff involvement in key features which I see as a security risk and I avoided the exchange.

Apart from exchanging my Bitcoin to naira I never used Patricia to trade in other coins, and I was not surprised when I got the email of withdrawal disable due to security threats but the emails mentioned that customers' funds were affected by the attack.

Omo I feel say these stuff na settings o. See the way e take start from suspending of withdrawals to possible hack. Na so e dey take dey o. These guys don japa with people alawee o.  Na these kind things dey attract government into putting policies wey go dey reveal identity of people for Crypto wey no go well. I dey even wonder if our government go put eye into this matter to see how Dem go take resolve am possibly go after the hackers if Dem get any track or trace of activities as regards the funds movement. That one fit make sense Wella.

[Igebotz]

I used that exchange a couple of times to exchange my Bitcoin into naira, but that was a long time ago as I found out that there have some practices that aid more centralization and third-party staff involvement in key features which I see as a security risk and I avoided the exchange.

Apart from exchanging my Bitcoin to naira I never used Patricia to trade in other coins, and I was not surprised when I got the email of withdrawal disable due to security threats but the emails mentioned that customers' funds were affected by the attack.

Omo I feel say these stuff na settings o. See the way e take start from suspending of withdrawals to possible hack. Na so e dey take dey o. These guys don japa with people alawee o.  Na these kind things dey attract government into putting policies wey go dey reveal identity of people for Crypto wey no go well. I dey even wonder if our government go put eye into this matter to see how Dem go take resolve am possibly go after the hackers if Dem get any track or trace of activities as regards the funds movement. That one fit make sense Wella.

The Nigerian government or bank will not intervene, and no one will be arrested over crypto hack or not as far as Nigeria is concerned. I can't tell if Patricia rugpull like most of the trading platforms out there, but what I can tell you is that whoever gets into crypto scam, lost valuable crypto assets does so at his own risk, the Nigerian government has banned crypto trading activities and is not going to engage in it, so everyone who is into crypto in Nigeria does so at their own risk.

[Mate2237]

I used that exchange a couple of times to exchange my Bitcoin into naira, but that was a long time ago as I found out that there have some practices that aid more centralization and third-party staff involvement in key features which I see as a security risk and I avoided the exchange.

Apart from exchanging my Bitcoin to naira I never used Patricia to trade in other coins, and I was not surprised when I got the email of withdrawal disable due to security threats but the emails mentioned that customers' funds were affected by the attack.

Omo I feel say these stuff na settings o. See the way e take start from suspending of withdrawals to possible hack. Na so e dey take dey o. These guys don japa with people alawee o.  Na these kind things dey attract government into putting policies wey go dey reveal identity of people for Crypto wey no go well. I dey even wonder if our government go put eye into this matter to see how Dem go take resolve am possibly go after the hackers if Dem get any track or trace of activities as regards the funds movement. That one fit make sense Wella.

The Nigerian government or bank will not intervene, and no one will be arrested over crypto hack or not as far as Nigeria is concerned. I can't tell if Patricia rugpull like most of the trading platforms out there, but what I can tell you is that whoever gets into crypto scam, lost valuable crypto assets does so at his own risk, the Nigerian government has banned crypto trading activities and is not going to engage in it, so everyone who is into crypto in Nigeria does so at their own risk.

The government and bank will even laf at those who lost money in the exchange platform says, "we told them not to invest in crypto they refused let them loss well well". So the government intervention is the act of dream and imagination. Bank has nothing to do with them, it is only government give a sanction letter to the Scam company of they want.
And such platforms are operated by Ponzi scheme experts. They know when to hit and run.

[Wiwo]

The Nigerian government or bank will not intervene, and no one will be arrested over crypto hack or not as far as Nigeria is concerned. I can't tell if Patricia rugpull like most of the trading platforms out there, but what I can tell you is that whoever gets into crypto scam, and lost valuable crypto assets does so at his own risk, the Nigerian government has banned crypto trading activities and is not going to engage in it, so everyone who is into crypto in Nigeria does so at their own risk.

I understand the stand of the government as regards crypto trading and investment in Nigeria and how OYO is the case of those who engage in cryptocurrency activities in 9ja as their brand to bear all the risk if anything happens while engaging with cryptocurrency in the country, and this is why that statement of not your key, not your coin is very important to Nigerians cryptocurrency users.

Since there is no form of insurance support in the case of a hack or exit scam in any cryptocurrency platform in Nigeria, everyone should become self-custodians of their coins to have total control over their assets instead of trusting a third-party platform that is unregulated.

[Charles-Tim]

The Nigerian government or bank will not intervene, and no one will be arrested over crypto hack or not as far as Nigeria is concerned. I can't tell if Patricia rugpull like most of the trading platforms out there, but what I can tell you is that whoever gets into crypto scam, lost valuable crypto assets does so at his own risk, the Nigerian government has banned crypto trading activities and is not going to engage in it, so everyone who is into crypto in Nigeria does so at their own risk.

Because the government is supporting something does not mean customers assets are safe on a platform, we should always be careful not to lose our money even if government are in favour of crypto. Second, Nigeria government did not ban crypto trading activities. Nigeria government are still mute to anything related to crypto.

[Charles-Tim]

Recent email to Patricia users:

Hello Chief,

Over the past few weeks, we have faced a challenging situation that has impacted you (our users) and the business.

We choose to recognize the importance of your trust in us as a business and its profound impact on our mission to provide a smooth financial experience for all our users.

We are acutely aware of the weight you have placed on us as partners in your financial journey, and we can only ask for your continued patience and support as we navigate the challenges ahead.

We are glad to report that we are making significant progress in resolving the situation, and in the coming weeks, we will provide you with clear timelines on when you can regain access to your funds.

Your unwavering dedication has been a driving force, propelling us forward during this arduous journey. It strengthens our resolve to get "Patricia Personal" back on track and ensures that we continue to assist you in achieving your financial goals.

We are immensely grateful for your patience, support, feedback, and words of encouragement you have shared with us.

We are going to find out if truly that progress has been made to get back their customers funds. I think the earlier the better for the exchange to stand back.

I only see this as a means to calm down their customers. Only when to believe in what they are saying is when they actually refund their customers back their money.

[Agbe]

I only see this as a means to calm down their customers. Only when to believe in what they are saying is when they actually refund their customers back their money.

There is an element of truth, since they took their time to compose this and forward it to their customers. Because if they were not coming, they would not send this second message because the first notice was good enough for them to close down the platform but they themselves also know that the business is good for them and they want to come back in full operation. So they have to give pre-information to their to calm their tensions. Let wait and see, they said that next week they will give feedback again.

[CryptoHeadlineNews]

I only see this as a means to calm down their customers. Only when to believe in what they are saying is when they actually refund their customers back their money.

You are very correct on this very point of yours, because with the recent security breach done on "Patricia", it will really take time to regain back the people's trust, because what everybody cares about right now is how to have their funds back, and not minding if the platform close down thereafter. Because the 2wks it went off business is quite a long time for other traders to may have found an alternate trading platform & known the importance of "Not your key, Not your coin"

[MainIbem]

Omenh this is serious, like what's the problem of these hackers this days because it's too common. Does it mean nothing can be done to fully secured all these platforms against any attack?
Yeah @Charlse_Tim I understand is very bad someone to leave their assets on exchange not just that in a centralized exchange where they have no access to it. We should be very mindful on how we leave our money to these exchangers. Is my first time of hearing about this exchange.

[Charles-Tim]

I do not know any Patricia users. If you know anyone using the crypto exchange before, you need ask him if he got this email or not:

Hello Chief,

We are glad to inform you that in the upcoming weeks, we will be opening up withdrawal of the feature, granting you convenient access to your crypto assets.

To ensure the utmost accuracy of your asset information, please complete this asset form. This will allow us  to validate and update our records promptly, enabling seamless processing of your withdrawal requests.

By taking a few moments to fill out the form, you ensure swift access to your account and the ability to make timely withdrawals.

So, Chief, if you have not yet completed the form or friends who are yet to, kindly do so without delay.

Fill out the form here

[/b][/url]

We intend to be meticulous in our assessment of the whole process, hence, it will take us 3-8 weeks to review due to the large number of our users.

If you have Patricians and family members who are yet to fill out the form or are not aware of this information, kindly share it with them as we want to reach everyone.

Thank you for choosing us as your trusted crypto partner — and for your continued support and patience, we remain your valued partner in meeting your crypto needs.

Let us wait and see what will happen, if they are going to be able to let their customers to withdraw their money or not. If this hack did not make the exchange to close down, I hope they will take security seriously for this not to happen again.

[Coyster]

Let us wait and see what will happen, if they are going to be able to let their customers to withdraw their money or not. If this hack did not make the exchange to close down, I hope they will take security seriously for this not to happen again.

If every customer go fit withdraw their money and the exchange go continue to dey work as normal, then e go be say dem no lose much as a result of the hack, because normally if the funds wey dem lose plenty, the exchange no go fit work again. I no dey use patricia but for the sake of people wey dey use am, i hope say this info dey true. But on how the exchange allow dem withdraw their funds, i hope say e go be better lesson for people say: not your keys na not your coins oh.

[cytpoway121]

I hope you know what Patricia is? A platform located in Nigeria that you can trade bitcoin, few other cryptocurrencies and gift cards. But I think it offers more, which you can see in the image below:

This is another example of not your key not your coin. Withdrawal as been suspended on Patricia indefinitely.

 
 

If you do not trade, move your coins out of any exchange to a reputed noncustodial wallet. Cold wallets which are safer are recommended. I have opened account on Patricia before, not that good for trading as only few coins are listed and not supporting derivatives market. I am surprised that some people still trade and leave their coins and naira on Patricia.

Till today, i remain perplexed and surprised at what happened with Patricia and the silence from nigeria sec and efcc offices. Patricia has been in financial troubles since year 2021; yet they been de fund BBN and offer juicy offers consolidating the loss; while their ceo invested in tesla ride. It is true that Not your keys, not your funds, it is also true that Patricia is registered in Nigeria SEC and should be brought to book.

In addition, Eyowo Microfinance Bank and Patricia Switch (same affiliations) both defrauded Nigeria and further raised concerns about bitcoin operations in the country to the already negative SEC guys

[Framelover]

From suspension of withdrawals to we are sorry our exchange has been hacked  .

I got scammed $200 steam card last year on their shitty gift cards exchange service, after uploading the back of my steam card and receipts, they used my card and told me it was invalid, i got back to steam card customer care and was told that my card was redeem by a third party site, that was my final relationship with Patricia. Nigerians, on the other hand, are stupid because I don't see why anyone would leave their valuables on such low-budget sites. I feel bad for the victims but Patricia needed to be stopped

It’s sad to know that Patricia has had record of scams and this is indeed an eye opener to so many to be careful on the kind of third parties they deal with. It’s important for us to be careful and cautious when engaging in online transactions. But then while it is understandable to feel bitter and pissed about this situation, it’s important not to generally make a negative comment or assumptions about a particular nationality or any nationality at all or group of people. I consider your statement “…Nigerians, on the other hand, are stupid…” as an inappropriate use of language. Scammers are everywhere in the world, and just anyone can be vulnerable and fall victim regardless of their race or ethnicity.
Regardless our emotions, let's always try not to use inappropriate language in addressing issyes (especially people/ group of people).

[Coyster]

It is true that Not your keys, not your funds, it is also true that Patricia is registered in Nigeria SEC and should be brought to book.

I never use Patricia before and i no really know much about them, apart from this hack wey OP post, e get any other issue wey Patricia get? I think say na legit exchange wey dey offer good services to Nigerians, though i no sure because i no dey use am. The last message from Patricia wey OP post for this thread also talk say dem go resume withdrawal, e get anybody wey dey use Patricia here wey go fit confirm if withdrawal don resume.

In addition, Eyowo Microfinance Bank and Patricia Switch (same affiliations) both defrauded Nigeria and further raised concerns about bitcoin operations in the country to the already negative SEC guys

Wetin you mean by dem defraud Nigeria? E get any fraud or scam case wey Patricia dey face.

[Charles-Tim]

I never use Patricia before and i no really know much about them, apart from this hack wey OP post, e get any other issue wey Patricia get?

Patricia did not have any other issue yet except that the exchange was hacked, bitcoin and naira stolen.

The last message from Patricia wey OP post for this thread also talk say dem go resume withdrawal, e get anybody wey dey use Patricia here wey go fit confirm if withdrawal don resume.

When withdrawal of funds resume, I will get the information and post it on this thread if no one has posted it.

Wetin you mean by dem defraud Nigeria? E get any fraud or scam case wey Patricia dey face.

No scam case than the exchange was hacked.

[Wiwo]

The Nigerian government or bank will not intervene, and no one will be arrested over crypto hack or not as far as Nigeria is concerned. I can't tell if Patricia rugpull like most of the trading platforms out there, but what I can tell you is that whoever gets into a crypto scam, lost valuable crypto assets does so at his own risk, the Nigerian government has banned crypto trading activities and is not going to engage in it, so everyone who is into crypto in Nigeria does so at their own risk.

In most cases or in all scams such as this the those who lost assets on this centralized crypto exchange have themselves to blame since the government through the central bank already warn Nigerians of the danger of crypto investment or assets which is why banks in Nigeria we're directed to stop bank vs crypto transactions.

And with such laws,  the scammy shity crypto exchanges will take advantage to pull an exit one of their customers and the event playing out at Patricia is one of such centralized exchange scheme,  because whatever security vulnerability that leads to the loss of client bitcoin balance or other balance on the exchange.

I never trust Patricia for once since their exchange rate is lower than other market rate also having high naira withdrawal fees makes the case more complicated.

[Charles-Tim]

Lastest on Patricia hack and money refunding:

Hello Chief,

Over the past couple of weeks, we’ve witnessed the most immense support, trust, and cheer a business can ever receive, from you, our dear customers.

We appreciate your patience and willingness to continue to do business with us, but even as we work towards restoring our Patricia Personal services and re-opening withdrawals, we'd like for you to temporarily stop sending crypto into your wallets.

Although we understand that this may be of concern to you, we want to assure you that it will help us focus our efforts on resolving all pending transactions, faster than we have estimated.

To speed up access to your assets, we are conducting an asset confirmation exercise to ensure we have complete information on your assets. If you are yet to fill the form get  started here.

confirm your asset here

Our customer support team is on standby to answer your questions or concerns and provide assistance where needed.

Thank you for your understanding.

I will not post any further information unless there is money refund.

[Cryptomultiplier]

My first time hearing of such an exchange in the region.
When I saw the name Patricia, I felt it was one of our government official who has stolen our funds again.

No blame me, remember Patricia Etteh? My thoughts at first exactly.

Also, I think anyone who has been on this forum long enough and still used such an exchange to keep their coins, should be sorted out, flogged and banned from here because an old member will know better than to leave their coins on the CEX despite the news about big brother Binance's saga and lawsuit.

I very much like that there might be hope for redeeming the coins trapped in the CEX once the confusion that led to this is sorted out.

[Wiwo]

The Nigerian government or bank will not intervene, and no one will be arrested over crypto hack or not as far as Nigeria is concerned. I can't tell if Patricia rugpull like most of the trading platforms out there, but what I can tell you is that whoever gets into crypto scam, lost valuable crypto assets does so at his own risk, the Nigerian government has banned crypto trading activities and is not going to engage in it, so everyone who is into crypto in Nigeria does so at their own risk.

Because the government is supporting something does not mean customers assets are safe on a platform, we should always be careful not to lose our money even if government are in favour of crypto. Second, Nigeria government did not ban crypto trading activities. Nigeria's government are still mute to anything related to crypto.

Charles the thing is that if government support a cryptocurrency exchange that means that the exchange will have a license from the Nigeria sec to operate the crypto exchange as a subsidiary within Nigeria and be fully taxed just with some form of insurance covers for those coins and assets that are traded on the exchange and if anything happens with the exchange, the insurance should be able to cover for loses of customers assets.

But at the moment no cryptocurrency exchange within Nigeria have such status and at that whatever happens to customers' coins on those exchange is none of the government's business, unless the coin owners pick up a personal case against the exchange and the possibility of getting justice for such case is still minimal since the government through the central bank already warn citizens against cryptocurrency trading and it risk associated with dealing with unknown cryptocurrency exchange or other crypto investments.

[Charles-Tim]

Charles the thing is that if government support a cryptocurrency exchange that means that the exchange will have a license from the Nigeria sec to operate the crypto exchange as a subsidiary within Nigeria and be fully taxed just with some form of insurance covers for those coins and assets that are traded on the exchange and if anything happens with the exchange, the insurance should be able to cover for loses of customers assets.

But at the moment no cryptocurrency exchange within Nigeria have such status and at that whatever happens to customers' coins on those exchange is none of the government's business, unless the coin owners pick up a personal case against the exchange and the possibility of getting justice for such case is still minimal since the government through the central bank already warn citizens against cryptocurrency trading and it risk associated with dealing with unknown cryptocurrency exchange or other crypto investments.

Patricia is registered in Nigeria.

Agbodje sits atop a multi-billion naira company known as Patricia but registered with Corporate Affairs Commission (C.A.C) as Patricia Technologies Limited, an e-Commerce company that processed over N10 billion in transaction volume in 2019 alone after having been in the business in just two years.

But if you have a valid evidence that the company is not registered in Nigeria, you can bring proof.

Do not think that there is anything like insurance unless the platform stated it on their terms of service, be it registered or not.

[Odohu]

I hope you know what Patricia is? A platform located in Nigeria that you can trade bitcoin, few other cryptocurrencies and gift cards. But I think it offers more, which you can see in the image below:

This is another example of not your key not your coin. Withdrawal as been suspended on Patricia indefinitely.

https://twitter.com/PatriciaSwitch/status/1662049215772516352?t=BTNf10Oo158vorot9LlNsw&s=19

If you do not trade, move your coins out of any exchange to a reputed noncustodial wallet. Cold wallets which are safer are recommended. I have opened account on Patricia before, not that good for trading as only few coins are listed and not supporting derivatives market. I am surprised that some people still trade and leave their coins and naira on Patricia.

I got to know about this Patricia during the BigBrother 9ja 2020 and 2021 seasons which they sponsored. They recorded over 13,000 signups within 12 hour when their first ads dropped in the BBNaija session. It is such a shame that such a promising company will end up this way. This is a very big blow to Nigerian startups.

[Coyster]

I got to know about this Patricia during the BigBrother 9ja 2020 and 2021 seasons which they sponsored. They recorded over 13,000 signups within 12 hour when their first ads dropped in the BBNaija session. It is such a shame that such a promising company will end up this way. This is a very big blow to Nigerian startups.

Wetin you gats know be say wetin happen to Patricia fit happen to any exchange (that's why you no suppose leave your money for there), dem don even hack Binance before, wetin matter na the extent of the loss wey the exchange incur and how them handle the issue, if them no too incur loss them go fit solve the matter, settle their customers and continue to dey run their business, but if the breach cause dem better loss, that one go be the end of the exchage. Having said that, from the emails wey OP dey post e be like say Patricia go solve this issue and come back to business, but make we dey watch wetin go happen sha.

[cytpoway121]

I hope you know what Patricia is? A platform located in Nigeria that you can trade bitcoin, few other cryptocurrencies and gift cards. But I think it offers more, which you can see in the image below:

This is another example of not your key not your coin. Withdrawal as been suspended on Patricia indefinitely.

If you do not trade, move your coins out of any exchange to a reputed noncustodial wallet. Cold wallets which are safer are recommended. I have opened account on Patricia before, not that good for trading as only few coins are listed and not supporting derivatives market. I am surprised that some people still trade and leave their coins and naira on Patricia.

Till today, i remain perplexed and surprised at what happened with Patricia and the silence from nigeria sec and efcc offices. Patricia has been in financial troubles since year 2021; yet they been de fund BBN and offer juicy offers consolidating the loss; while their ceo invested in tesla ride. It is true that Not your keys, not your funds, it is also true that Patricia is registered in Nigeria SEC and should be brought to book.

In addition, Eyowo Microfinance Bank and Patricia Switch (same affiliations) both defrauded Nigeria and further raised concerns about bitcoin operations in the country to the already negative SEC guys

I have come back to these post because when i mentioned; alot of people do not believe that Patricia could scam.
Patricia has announced a compensation plan for its victim (individuals who kept btc or funds in their platform); they will not be compensated in their assets; but they will be compensated with an imaginary token; with a patricia token pegged to an imaginary 1$ price.

Once again, i wonder what the job of the Nigeria sec guys is; if they let patricia escape with their scamming tactics.
What do you say ? Believe the patricia imaginary token ?

[Nwada001]

I have come back to these post because when i mentioned; alot of people do not believe that Patricia could scam.
Patricia has announced a compensation plan for its victim (individuals who kept btc or funds in their platform); they will not be compensated in their assets; but they will be compensated with an imaginary token; with a patricia token pegged to an imaginary 1$ price.

Once again, i wonder what the job of the Nigeria sec guys is; if they let patricia escape with their scamming tactics.
What do you say ? Believe the patricia imaginary token ?

This is not about what one believes again; this is about asking the question, Can this imaginary token be exchanged? Because giving someone a bunch of tokens that cannot be traded anywhere is as good as not even trying to compensate them at all.

What is the Nigerian SEC going to do about this? Has anyone made it necessary to report this case over to them first?
And with the hack that happened on Patricia, was there any further investigation to confirm if it was just an inside job or if the exchange was truly hacked? Because if the exchange was truly hacked, one will have to go back to their TOS and confirm if there was anything mentioned there in regards to a refund if something of that nature happens.

Can you drop any source link in regards to said Patricia token, as a lot of people might want to get the whole gist, including me..

[Charles-Tim]

I have come back to these post because when i mentioned; alot of people do not believe that Patricia could scam.
Patricia has announced a compensation plan for its victim (individuals who kept btc or funds in their platform); they will not be compensated in their assets; but they will be compensated with an imaginary token; with a patricia token pegged to an imaginary 1$ price.

Once again, i wonder what the job of the Nigeria sec guys is; if they let patricia escape with their scamming tactics.
What do you say ? Believe the patricia imaginary token ?

I just do not want to keep updating what is not necessary because what I am expecting is an email regarding Patricia to have credited the affected users, which would be in accordance to what they said in the past, but this was the email I saw few days ago, on 11th of August:

Title: We are reopening withdrawals soon

Hey Chief,

I’m glad to say TGIF!

I know you have been anticipating this week’s updates with pumping hearts.  Chief, I’ve got great news for you today, and I'm super excited to share it.

Afrobeat singer Rema chorused, “everyday na holiday”, but here at Patricia, everyday na work as we have been pushing round the clock to ensure we are right back at your service. Get your drinks, grab a seat, and let’s ride into this week’s updates.

Big Win

It is my pleasure to inform you, Chief, that we have secured a couple of investors with the notable one being Nigeria’s renowned investor, Oluwaseun Dania, who has partnered with us through a significant investment. Mr. Oluwaseun is the CEO of Tradefada, one of Nigeria’s foremost crypto exchanges.

What does this mean? We are solidifying our leading role in Africa’s ever-evolving crypto landscape through powerful collaborations, partnerships, and investments from allies worldwide.

This investment, and more, shows how confident investors are in our vision and commitment to innovation and excellence and will help us bolster operations and build more innovative solutions for you.

On your mark, get set…
Speaking of solutions, we are re-opening the Patricia App for withdrawals soon. Did I hear you scream YESSSS? It has been an adventure over the last few weeks, and we are grateful for your staying with us all along.

Rest assured that you will get consistent updates via our established channels as we get closer to re-opening withdrawals. We only do transparency here☺️

So get set, cos we’re heading back to the moon!

There is nothing special at all, but let us see what would later happen other than their fake token.

What is the Nigerian SEC going to do about this? Has anyone made it necessary to report this case over to them first?
And with the hack that happened on Patricia, was there any further investigation to confirm if it was just an inside job or if the exchange was truly hacked? Because if the exchange was truly hacked, one will have to go back to their TOS and confirm if there was anything mentioned there in regards to a refund if something of that nature happens.

an you drop any source link in regards to said Patricia token, as a lot of people might want to get the whole gist, including me..

SEC and other regulatory bodies are mute about this.

Read this about the token:
https://innovation-village.com/crypto-exchange-firm-patricia-converts-customers-balances-to-native-tokens-without-customers-consent/

Especially, this: https://techpoint.africa/2023/08/19/patricia-token/

The token is pegged with USD. Patricia token is not available on any blockchain, not available on any exchange than Patricia.

In its announcement on X, Patricia said outstanding balances will be converted to PTK. This was done without customer consent and many fear that they might not be able to exchange the token for fiat currency or other cryptocurrencies like bitcoin.

If customers can withdraw funds, a withdrawal surge will cause PTK to de-peg leaving customers who were unable to make withdrawals stranded.

[sokani]

I have come back to these post because when i mentioned; alot of people do not believe that Patricia could scam.
Patricia has announced a compensation plan for its victim (individuals who kept btc or funds in their platform); they will not be compensated in their assets; but they will be compensated with an imaginary token; with a patricia token pegged to an imaginary 1$ price.

Once again, i wonder what the job of the Nigeria sec guys is; if they let patricia escape with their scamming tactics.
What do you say ? Believe the patricia imaginary token ?

I believe say di one na lesson to people wey dey new to di crypto space and also people wey dey keep their asset for CEX. For dem to look for a way to repay di affected customers and see if dem fit redeem their reputation small, di best thoughts wey dem fit think of na to covert all customers assets to Patricia token without their consent. I kno no di terms of agreement wey di users bin accept wen signing up on Patricia but dis new development na something wey bi say dem fit file a lawsuit against Patricia. Nigerian SEC too just dey fold their arms dey watch, make dem hold dis people accountable for their actions like their counterparts dey do for oda nations.

[DaNNy001]

I have come back to these post because when i mentioned; alot of people do not believe that Patricia could scam.
Patricia has announced a compensation plan for its victim (individuals who kept btc or funds in their platform); they will not be compensated in their assets; but they will be compensated with an imaginary token; with a patricia token pegged to an imaginary 1$ price.

Once again, i wonder what the job of the Nigeria sec guys is; if they let patricia escape with their scamming tactics.
What do you say ? Believe the patricia imaginary token ?

I believe say di one na lesson to people wey dey new to di crypto space and also people wey dey keep their asset for CEX. For dem to look for a way to repay di affected customers and see if dem fit redeem their reputation small, di best thoughts wey dem fit think of na to covert all customers assets to Patricia token without their consent. I kno no di terms of agreement wey di users bin accept wen signing up on Patricia but dis new development na something wey bi say dem fit file a lawsuit against Patricia. Nigerian SEC too just dey fold their arms dey watch, make dem hold dis people accountable for their actions like their counterparts dey do for oda nations.

No be small my broda this Patricia exchange needs to be held accountable for their wrong doings in inconveniencing all their customers because na very big fraud wey dem do just imagine the massive amount of crypto wey people go don lose for the ignorant people wey dey even dey use CEX as a storage wallet for their coins as for me I only dey use exchanges for the only purpose which it's meant for which is to sell and buy and then move my coins out because since it's control by someone, there is highly every possiblity that something will definitely occur to your coins.

[Makus]

I believe say di one na lesson to people wey dey new to di crypto space and also people wey dey keep their asset for CEX. For dem to look for a way to repay di affected customers and see if dem fit redeem their reputation small, di best thoughts wey dem fit think of na to covert all customers assets to Patricia token without their consent. I kno no di terms of agreement wey di users bin accept wen signing up on Patricia but dis new development na something wey bi say dem fit file a lawsuit against Patricia. Nigerian SEC too just dey fold their arms dey watch, make dem hold dis people accountable for their actions like their counterparts dey do for oda nations.

No be small my broda this Patricia exchange needs to be held accountable for their wrong doings in inconveniencing all their customers because na very big fraud wey dem do just imagine the massive amount of crypto wey people go don lose for the ignorant people wey dey even dey use CEX as a storage wallet for their coins as for me I only dey use exchanges for the only purpose which it's meant for which is to sell and buy and then move my coins out because since it's control by someone, there is highly every possiblity that something will definitely occur to your coins.

No be small thing oo my brother, as this one don happen like this I believe say na strong lesson for every Nigeria, say make we no dey keep asset for exchange, use dem for the name purpose alone, I just dey imaging wattin the victims dem pass through like this, since April wen dem stop their withdrawal now for August dem dey tell dem say dem don convert their coin to Patricia token. That na very nonsense format wey dem bring come, because dem nor go fit tell me say after dem get security breach na to create native token nai dem fit think of.

My advice to any of their victim na be say, make dem come together sue the company to court, if at all something go burst out.

[Dr.Bitcoin_Strange]

From suspension of withdrawals to we are sorry our exchange has been hacked  .

LOL, that's usually how the story goes with some of these trading platforms, but I am not surprised that some users will lose their Bitcoin or naira because I guess they have really put trust in that exchange before they were able to leave their asset in it. The reason being that the exchange has been in operation since 2017, they have gained much more customers since then, and they have also won the trust of a lot of people. Users of Patricia in Nigeria believe it's a very reputable exchange, so they can trust their assets with it, and the truth is that a lot of users who are not in this forum would be victims of that hack because I believe some people outside the forum are not yet aware of the 'not your key, not your coin." So, I also advise that those in Nigeria should create awareness about "not your key, not your coin.

[Charles-Tim]

This email is not from Patricia directly, but from another source, likely the CEO who is also the founder, Fejiro Hanu Agbodje.

A Message from Hanu, CEO/Founder of Patricia.

Hello Chief,

I hope this email finds you well.

I understand that there has been some confusion and concerns regarding the recent announcement of Patricia Token. I am here to address those concerns and provide you with a clear understanding of our commitment to you.

Firstly, let me assure you that Patricia Token is not a stable coin; it is a debt token designed to assist our valued customers in managing their debts effectively. I am fully dedicated to ensuring transparency and security in every step of this process.

Your assets are of utmost importance to us. Rest assured that every customer's funds will be accounted for on a 1:1 basis, pegged to the stable coin USDT.

The concept of debt tokens is not new. As a matter of fact, Bitfinex first introduced this approach when it faced a similar challenge. Over an 11-month period, they successfully repaid all debt tokens to their users. We will overcome it too.

Below are a few important reads for your convenience:

Patricia Token White Paper
FAQ Video and Document on Patricia Token
Bitfinex's Example in Action

I value your trust and support on this journey and sincerely apologize for any inconvenience caused. My commitment to transparency, security, and your best interests remains unwavering. If you have any questions or concerns, please don't hesitate to reach out to us.

Thank you for being a part of the Patricia community

I do not know what they are trying to do, but he said Patricia token is not a stable coin but pegged 1:1 to a dollar. I do not know about how Bitfinix was able to compensate their customers, so I do not know where Patricia is driving to.

[Igebotz]

This email is not from Patricia directly, but from another source, likely the CEO who is also the founder, Fejiro Hanu Agbodje.
<cut>
I do not know what they are trying to do, but he said Patricia token is not a stable coin but pegged 1:1 to a dollar. I do not know about how Bitfinix was able to compensate their customers, so I do not know where Patricia is driving to.

Do people still believe Patricia's dishonest activity? African crypto setups are worse, as they will learn the hard way. Claim to have been hacked, stopped withdrawals, and issued a fraudulent token claiming 1PT = $1 and converting all customers available balance to PT, claiming it's a stablecoin pegged to USDT. After being called out on their fraudulent token, they claim that PT isn't a stablecoin but is pegged to the value of the dollar. Who are they deserving? Stole $2m customer funds.

African cryto startup are not ready- stop investing in them. All scam

[nelson4lov]

~Snipped

I do not know what they are trying to do, but he said Patricia token is not a stable coin but pegged 1:1 to a dollar. I do not know about how Bitfinix was able to compensate their customers, so I do not know where Patricia is driving to.

Bitfinix issued BFX tokens to its users that were affected by the 2016 hack and those tokens were referred to as "debt token". The exchange kept operating as normal and made profits, part of it was used to buyback tokens at $1 face value. They did this continously till they effectively bought back all the debt tokens from affected users.

Patricia wants to do the same but being very sketchy about it. I aldo think they'll poorly execute it considering the fact that the same management that ran the company into debt is the same management making these huge promises.

[Charles-Tim]

This was three days ago, sorry that I am lazy to update this in time. It was about important updates on reopening and payment procedures for Patricia customers.

Hello Patricians,

Relaunch and repayment begins today!

We are glad to announce that we are reopening the Patricia App today. We cannot but say a big thank you for holding on, for supporting us;  your patience, your  trust and collaboration have fueled our journey, and has made our commitment to you stronger than ever.

As we reopen our app, many questions may arise. I appreciate those who participated in our recent town hall meeting, sharing valuable questions and feedback.

Today, we aim to provide essential information regarding the reopening, payment process, and all the details you need to know.
Payment Process Overview
1. Conversion of Assets:

Affected assets, as previously announced, will be converted to PUTX.
The Debt token pegged at 1$ to 1 PUTX, will be converted based on the operations' pause rate on April 29th, 2023.
Converted assets will be deposited in Naira to customers' primary bank accounts for transparency and collaboration with audit and financial partners.
2. Consent:

Upon logging in, you will be prompted to consent to converting your assets, facilitating a seamless withdrawal process.
3. Selection Process:

Users will be paid in batches, with the first batch selected using a 'first in, first served' method for users who filled the asset forms.
Priority will be given to vulnerable users with the lowest balances, recognizing their increased vulnerability during this period.
4. Existing Assets:

Users with BTC, USD, and Naira are affected. Other assets like ETH, Doge, XRP, USDT will be fully accessible on November 20, 2023, with initial withdrawal limits for security reasons.
5. Next Payment Batch:

Details about the next payment date will be communicated soon, emphasizing that this is an ongoing process and only the first batch.
6. Post-announcement Date Payment:

If you received funds after the announcement date (April 29, 2023), click this link to file a claim, and we will guide you through the next steps.
Additional Information

Payment Source:
Payments are sourced from fundraising efforts. The next payment batch depends on fundraising, recoveries, and post-launch profitability.
Commitment:
Our commitment remains steadfast: no customer will go unpaid. While the process may take time, we are dedicated to fulfilling our promises and maintaining transparency.
Action Required
If you haven't filled out the asset form, kindly do so here.

For further inquiries, feel free to send an email to support@mypatricia.co.
Thank you for your understanding and continued support.

[Doan9269]

This was three days ago, sorry that I am lazy to update this in time. It was about important updates on reopening and payment procedures for Patricia customers.

Hello Patricians,

Relaunch and repayment begins today!

If you're a user of Patricia, I have an advise for you, try as much as possible to complyabd stay tuned to their repayment procedures to your funds but don't go for the other aspects which talks about it's relaunch because they will definitely use part of the new customers funds to clear all their outstandings from existing customers and you will also stay on the queue at the long run among those that will be later affected by either their policy or security challenge, take your money off centralized exchanges and be in custody of your financial assets, there's no assurance that this will not repeat itself and they won't had the highest blast next time.

[Kelward]

This was three days ago, sorry that I am lazy to update this in time. It was about important updates on reopening and payment procedures for Patricia customers.

Hello Patricians,

Relaunch and repayment begins today!

If you're a user of Patricia, I have an advise for you, try as much as possible to complyabd stay tuned to their repayment procedures to your funds but don't go for the other aspects which talks about it's relaunch because they will definitely use part of the new customers funds to clear all their outstandings from existing customers and you will also stay on the queue at the long run among those that will be later affected by either their policy or security challenge, take your money off centralized exchanges and be in custody of your financial assets, there's no assurance that this will not repeat itself and they won't had the highest blast next time.

First I de happy for dem relaunch and repayment plans, dat na step in di right direction, I believe say di move na to restore investors trust in dem again. As e be now, issues about exchanges no de peculiar to Patricia, alone, in fact even top exchanges de get dem own shares of issues now. Check from FTX, de come down to di recent one wey be binance, CZ stepping down for a new CEO, fit affect binance negatively. So di wey I see am now be say make we no de live our money for exchanges, only wetin we wan take do transactions. So di answer na to de hold our coins mainly for our none custodial wallets, where we get control over am.  For now my trust rating for exchanges matter don reduce, because of recent happenings.

[Antotena]

I got to know about this Patricia during the BigBrother 9ja 2020 and 2021 seasons which they sponsored. They recorded over 13,000 signups within 12 hour when their first ads dropped in the BBNaija session. It is such a shame that such a promising company will end up this way. This is a very big blow to Nigerian startups.

If this was to be in a sane country, Patricia and Bbnaija sponsors will be apprehended by now, but Patricia the CEO is working around without been arrested or prosecuted for the loss of investors money. I have a bad feeling that Patricia was not hack but scam people's money and claim that the exchange was hack, just like FTX thing that happened in the same year, they think people are that gullible to lose their things to them.

If they don't get to the root of this matter, another scam is going to happen and guess what they will say? They will say nothing is going to happen and they will walk home free because they know that EFCC or SEC will not come after them and to think that the company is a registered entity in Nigeria, such a shame.

[Charles-Tim]

If this was to be in a sane country, Patricia and Bbnaija sponsors will be apprehended by now, but Patricia the CEO is working around without been arrested or prosecuted for the loss of investors money. I have a bad feeling that Patricia was not hack but scam people's money and claim that the exchange was hack, just like FTX thing that happened in the same year, they think people are that gullible to lose their things to them.

Exchanges were not well regulated and still not that regulated. Exchanges are often hacked and there are many that the owners of the exchanges are not arrested. I mean in other countries that you may be referring to as sane.

BBNaija has nothing to do with this. It is just like saying because Chipmixer was found to be involved in scam, that Chipmixer participants on this forum all should be arrested, but which is not right. But the main reason I said this is because Patricia exchange was not seen as scam, but hacked.

If they don't get to the root of this matter, another scam is going to happen and guess what they will say? They will say nothing is going to happen and they will walk home free because they know that EFCC or SEC will not come after them and to think that the company is a registered entity in Nigeria, such a shame.

I am not disputing that the owner may know about this or not, but if we should be sincere, they worked towards making sure their customers all get back their money. I wish we know any Patricia customers that can let us know more about this refunding. If done appropriately, I do not think the man deserves arrest, but there is nothing bad for the appropriate government organization to do investigation about it.

[sokani]

If you're a user of Patricia, I have an advise for you, try as much as possible to complyabd stay tuned to their repayment procedures to your funds but don't go for the other aspects which talks about it's relaunch because they will definitely use part of the new customers funds to clear all their outstandings from existing customers and you will also stay on the queue at the long run among those that will be later affected by either their policy or security challenge, take your money off centralized exchanges and be in custody of your financial assets, there's no assurance that this will not repeat itself and they won't had the highest blast next time.

Oyinbo talk say once bitten twice shy. Any person wey try collect hin funds na to rush remove all him money from Patricia go put am for personal wallet. I want believe say many Nigerians no really know how risky centralized exchange be, so I no go dey surprise say after their relaunch, people go still dey patronize them.

if we should be sincere, they worked towards making sure their customers all get back their money. I wish we know any Patricia customers that can let us know more about this refunding. If done appropriately, I do not think the man deserves arrest, but there is nothing bad for the appropriate government organization to do investigation about it.

Them fit make small repayment, then go lie say them don repay all their customers because e no hard them to do. Until them repay all the money wey them dey hold their customers before I go clap hands for them, for now, I go just dey chop my popcorn dey watch.