Patricia, a well-known cryptocurrency exchange based in Nigeria, has recently faced a significant security breach that has impacted its Bitcoin and Naira assets. In response, the company has taken immediate action to protect its user base and strengthen its security measures. As part of its ongoing internal restructuring aimed at enhancing platform security, the exchange has temporarily suspended fund withdrawals.
The breach compromised the exchange’s Bitcoin holdings. However, Patricia assured its users that other cryptocurrencies and customer funds remained unaffected. Despite this, customers are currently unable to withdraw funds from the platform due to the ongoing internal restructuring process.
While Patricia has not disclosed the exact extent of the assets compromised during the breach, it did reveal that one individual involved in the syndicated group responsible for the breach has been identified with the assistance of law enforcement. The exchange has committed to cooperating with law enforcement and other partners to recover the assets.
The suspension of fund withdrawals has led to some user dissatisfaction, as expressed on Twitter, citing inconveniences caused by the situation. Nevertheless, Patricia emphasizes its dedication to improving the platform’s security measures.
Reports indicate that the identification of the individual within the group responsible for the breach was facilitated through compromised Naira assets, with a majority of the compromised assets traced back to that particular individual.
To bolster platform security, Patricia has engaged the services of a security firm to conduct an audit. Once the affected division of the business, Patricia Personal, receives clearance to resume operations, customers will regain their ability to withdraw funds from the platform.
