Crypto Exchange Patricia’s CEO Denies Closure Rumors – Here’s The Latest
Crypto Substitute Patricia’s CEO Denies Closure Rumors – Here’s The Most modern
Patricia Substitute’s CEO Fejiro Hanu, has refuted rumors of the alternate’s closure, putting off them as media sensationalism aimed at producing clicks. Patricia Substitute is the principle platform to give crypto alternate products and services in Nigeria. Hanu mentioned,
“I’m performed speaking to those groundless stores. I will communicate without prolong to Patricia users, the very few first charge newshounds, and on my platforms.”
Regardless of facing scrutiny after a hacking incident in Might well moreover simply 2023, Hanu assured users in a Twitter post that Patricia is silent operational.
Patricia CEO Criticizing Media Outlets Over Misinformation and Lies Allegations
A thread:
One thing I are seeking to listing is, most newshounds, media homes, blogs, twitter influencers manufacture not care relating to the truth.
Why? Your eyeballs, your clicks, your views — that’s the prize.
— Hanu (@Fejizzy) Might well moreover simply 1, 2024
Patricia’s CEO criticized media stores for distorting the narrative and emphasised that the alternate remains dedicated to integrity and customer have confidence.
Time and time again, I even have shared files, poured my heart out to those media homes. Nonetheless guess what?
They flip it around to suit their very possess narrative, to farm your views.
Why manufacture you heart of attention on billionaires make investments heavily in media corporations?
— Hanu (@Fejizzy) Might well moreover simply 1, 2024
According to challenges getting access to customer funds since April 2023, Patricia converted the price of belongings into its native Patricia Token (PTK) in October 2023, guaranteeing future repayment. Hanu clarified that PTK represents debt and just is not very an on-chain token. Patricia pledged to reimburse holders with 1 Tether (USDT) token for every Patricia token. With these, Patricia demonstrates its commitment to asset recovery after the security breach.
Hanu up up to now users on Patricia’s dwelling, pointing out ongoing efforts by Nigerian security products and services to tackle the topic. In November 2023, an arrest became made in reference to the crypto pockets heist. Baby-kisser Wilfred Bonse became apprehended for allegedly stealing over 200 million Nigerian Naira ($246,153) from Patricia Applied sciences’ pockets.
HERE IS ONE TRUTH!
Governorship candidate Wilfred Bonse and his cohorts were arrested in affiliation to the hack, and we are currently expecting prosecution.
Take into accout if he had turn into governor — how straightforward would it were to arrest him? who would have even believed my memoir?… pic.twitter.com/y7x3gbTbGA
— Hanu (@Fejizzy) Might well moreover simply 1, 2024
The case comprises prices of felony conspiracy, unauthorized alteration of computer programs, and illicit fund diversion, underscoring Patricia’s determination to pursue justice for affected users.
Seriously, Patricia announced in January its plans to reimburse its customers within two to five years, citing “expectation management purposes.” Regardless of claims of repaying 24% of consumers, reports counsel that many have yet to rating any fee, with some having been unable to win admission to their funds for over a year sooner than the hacking incident.
The announcement of a repayment opinion adds to the frustration of consumers who’ve already continued prolonged delays in getting access to their funds. For those affected sooner than the hack, the total ready duration may possibly prolong to a pair of to 6 years. This extra exacerbates concerns over the uncertainty of after they’re going to glean win admission to to their belongings.
Patricia’s Efforts To Reimburse Users
Regardless of old indications that investors were ready to aid Patricia in fulfilling its repayment obligations, new sources counsel the firm never secured investor reinforce. Stories of layoffs in 2023 enhance questions relating to the firm’s monetary correctly being. Conflicting statements concerning the explanations within the help of the layoffs add to the uncertainty surrounding Patricia’s operations.
On the opposite hand, contemporary police investigations into the hacking incident and the upcoming trial of arrested suspects starting in June 2024 provide some hope of development.
Seriously, Patricia announced closing year that it became present process a principal debt restructuring effort. The presented Patricia Tokens (PTK) enable customers to rework owed funds into Patricia shares.
CEO Fejiro Hanu confirmed that this slither is allotment of the firm’s fundraising and debt reorganization approach. The approach offers users the likelihood to rework their debt tokens to shares at a lower sign. A third-party provider licensed by the Nigerian Securities and Substitute Commission (SEC) will tackle this.
On the opposite hand, not all customers are blissful with this approach. Some have expressed frustration through social media posts and visits to the firm’s place of work, traumatic the discharge of their funds.
Source : cryptonews.com
