TechFlow reported that Nigerian cryptocurrency exchange Patricia, which was hit by a hacker attack, announced on September 29 it had raised an undisclosed amount of funding to compensate users affected by the May breach. The fundraising comes weeks after Patricia unilaterally converted user funds into a stablecoin token called patricia.
At the end of May, it was reported that hackers had breached Patricia, resulting in the loss of approximately $2 million worth of digital assets. At the time, the Patricia team stated that only BTC and Naira assets were compromised. The team also claimed that freezing withdrawals afterward was intended to give the cryptocurrency exchange time to support its trading platform.
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