The Nigeria crypto exchange platform Patricia has reportedly raised an undisclosed amount of capital to fund its reimbursement plan for users affected by the May hacking. The crypto exchange’s reported capital raise came just a few weeks after it unilaterally converted user funds to a stablecoin token known as patricia token.
The cryptocurrency landscape in Nigeria witnessed a significant event following the breach of a local cryptocurrency exchange. In the aftermath of this breach, the exchange has decided to raise capital with the aim of compensating users who suffered losses in this unexpected incident.
This move is seen as a positive step in improving confidence in the country’s cryptocurrency financial markets. It is expected that users will be fully and fairly compensated.
This highlights the importance of security and stringent measures in the world of cryptocurrencies and the necessity to protect users’ funds.
