Saturday, December 7, 2024

Patricia claims system hack, customers’ funds trapped

The fintech platform stated that it was temporarily halting withdrawals to conduct an internal restructuring exercise.

• May 28, 2023
Fintech platform Patricia
Fintech platform Patricia( Credit: Fintechpad)

Prominent Fintech platform Patricia has temporarily suspended withdrawals from its platform after alleging that its systems were recently hacked.

In a statement posted on its official Twitter page, the fintech platform made this admission and explained that the breach affected its retail trading application, compromising its BTC and naira assets.

The fintech platform stated that it was temporarily halting withdrawals to conduct an internal restructuring exercise.

“Not long ago, we were victims of a hack. Patricia, the retail trading application, was solely affected by the breach. BTC and Naira assets were compromised,” the statement by Patricia read.

“In light of this, we are undergoing internal restructuring and temporarily suspending withdrawals on our apps (mobile and web). We understand how this has affected our customers, and are truly appreciative of your patience through these inconveniences,” the statement added.

Patricia further disclosed in the statement that it has tracked down one member of the coordinated gang responsible for the attack and pledged to do all in its power to ensure the return of all the money taken.

However, following Patricia’s admission, Techcabal reported that, despite only recently notifying its customers of the breach, multiple sources familiar with the situation claim that the incident occurred in 2022.

The Patricia app experienced a breach in January 2022, and the company reportedly lost $2 million as a result, according to Techcabal. 

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Abubakar Kyari

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Bukola Olapade

Sport

Sports commission DG calls for more support for women in sports

A statement from Kola Daniel, the DG’s media aide, said Olapade made the remarks at the flag-off of the race on Saturday in Abeokuta.

Information minister, Mohammed Idris (credit: Cable)

NationWide

Tax Bills: Tinubu won’t undermine democracy; reforms long overdue, says minister

Mr Idris emphasised that the nation’s tax administration system was long overdue for reforms on account of design and implementation flows.

Olatubosun Oluyede

States

Army chief Oluyede pledges renewed commitment to tackle insecurity in north

Mr Oluyede said the army was reviewing its strategies and intensifying efforts to ensure an effective response to security threats nationwide.

AYRA STARR

Showbiz

Ayra Starr most streamed female artiste in three countries: Spotify

According to Ms Okumu, one of the year’s key developments is the star-studded success of female artistes.

FARMERS PLANTING

States

SAPZ engages farmers to boost agro productivity in Kano

According to him, the programme also supports agro-industrial zone policy and institutional development.

World Health Organization

Health

Stakeholders laud Nigeria’s inclusion in initiative for childhood cancer

Nigeria joined 76 other countries to become a beneficiary of the GICC.