Patricia – a Nigerian gift card and crypto-trading platform – has encountered a security breach, prompting immediate action to protect its users.
As a precaution, the platform has temporarily stopped issuing funds. The company announced that it suffered a security breach that compromised its Bitcoin BTC $27,873 and assets in naira. In a message sent to users, he said that other cryptocurrencies and currency traders are not affected by the breach. However, customers cannot withdraw money from the platform because it is “under regulatory control”.
Although Patricia did not say how much property was destroyed in the breach, she revealed that one of the gangs involved in the breach was identified with the help of law enforcement.
He said he will continue to work with law enforcement and other partners to recover the property. Since the suspension of withdrawals on the platform, its users have taken to twitter to express their views, saying that they are angry. Nevertheless, the company emphasizes its continuous efforts to improve the security system of the platform.
According to reports, the exact person in the group was identified from the damaged naira treasure, with many naira treasures linked to this person.
To strengthen the security of the platform, the company hired the services of a security company to conduct research. Once the important part of the business – Patricia Personal – is cleared to operate, customers will regain the right to withdraw their money.
In February, it was reported that a Nigerian Fintech group, Flutterwave, was in a deal for nearly 2.9 billion naira ($6.3 million). The Central Bank of Nigeria (CBN) has initiated the freezing of bank accounts in response to hacking and to arrest the criminals.
The CBN does not accept cryptocurrencies as legal tender. In February 2021, the CBN banned commercial banks in Nigeria from engaging in cryptocurrency transactions. In an effort to protect citizens from criminals and fraudsters operating in the crypto black market, the CBN has made it clear that the financial and banking system will not be associated with cryptocurrency trading.
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