Patricia, a Nigerian gift card and crypto trading platform, announced on May 26 that one of its trading applications had been breached and that BTC and naira assets were compromised. The crypto exchange platform said it has since suspended withdrawals and is presently “undergoing internal restructuring.”
According to an update issued by Patricia, the hackers were able to gain access to the platform’s retail trading application by exploiting a vulnerability in the platform’s security system. The hackers were then able to steal an undisclosed amount of BTC and naira assets.
Patricia said that other crypto balances were not affected by the breach and that the assets belonging to its customers and merchants were still secure. However, the platform said that it had stopped processing withdrawals in light of the security breach.
Patricia said that its security team and local law enforcement have since identified an individual who is thought to be a part of the group of hackers behind the breach. The crypto platform said that it will “pursue this lead” and collaborate with security agencies until it recovers the missing assets.
The Patricia hack is a reminder of the importance of security when using crypto exchanges. Users should always be careful about the information they share with crypto exchanges and should only use exchanges that have a good reputation for security.