Patricia breached, bitcoin and naira stolen.

[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.