Patricia, a Nigerian gift card and cryptocurrency exchange platform, has temporarily suspended withdrawals from its users due to a security breach. The breach affected its Bitcoin and naira holdings, but not other cryptocurrencies or customer funds. The company has identified one of the perpetrators with the help of law enforcement and is working to recover the stolen assets.
Patricia is a company that offers various services related to gift cards, bitcoins, perfect money, and other digital assets. You can buy and sell gift cards, trade and store bitcoins, get physical and virtual cards for instant cash out, and accept crypto payments for your business. Patricia also has a learning portal where you can find useful information about how to use their products and services. Patricia is a secure, fast, and easy-to-use platform that aims to change the world with innovative solutions.
Patricia has also hired a security firm to conduct an audit and improve its security measures. The company has apologized for the inconvenience and assured its users that withdrawals will resume once Patricia Personal, the affected division, is cleared for operations.
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Relatively- Paxful, a global peer-to-peer cryptocurrency exchange that operates in Nigeria, has resumed its services after a month-long suspension. Paxful, a global peer-to-peer (P2P) crypto marketplace, has resumed its operations in Nigeria after a month-long suspension due to regulatory and internal challenges. The platform announced on its website that it had relaunched its service with enhanced security and user experience.
Paxful had suspended its operations in April 2023 following a dispute between its co-founders, Ray Youssef and Artur Schaback, over allegations of fraud, money laundering, and sanctions evasion. The platform also faced regulatory hurdles in the US, its main market, which prompted Youssef to advise customers to move their assets to self-custody wallets or other service providers. Paxful said its wallet had remained fully operational during the suspension and assured customers that their funds were safe.
The platform also said it was working on providing alternative options for non-US users, such as Noones, a new P2P platform focused on the Global South, and Bitnob, a Bitcoin payments company for Africans. Paxful is one of the leading P2P crypto exchanges in Nigeria, where it has over 1.5 million users.
The platform enables users to buy and sell Bitcoin and other cryptocurrencies using various payment methods, such as bank transfers, mobile money, gift cards, and cash. Paxful said it was committed to serving the Nigerian market and supporting the growth of the crypto ecosystem in the country.
The company also announced the appointment of a new global CEO- Mr Roshan and regional manager, Mr. John Doe, who will oversee the Nigerian market and expand the local footprint. Paxful said it is committed to providing safe and secure services to its Nigerian customers, who are among the most active users of cryptocurrency in Africa.