Following the launch of Patricia Token (PTK) issued to prospects by Patricia, a Nigerian cryptocurrency change, its CEO, Fejiro Hanu, has confirmed that prospects now have the choice to transform their owed funds into Patricia shares.
In keeping with a press release from Hanu, this course of types an integral element of the agency’s technique for fundraising and reorganizing its money owed. In anticipation of the agency’s upcoming app relaunch and preparation for its fundraising initiative, it permits its customers to rework their debt tokens into convertible notes at a positive low cost in Patricia.
He additionally revealed that these shares might be managed by a Nigerian Securities and Alternate Fee (SEC)-licensed trusted third get together to make sure full transparency.
Nevertheless, some customers are usually not pleased with the transfer. In a video making the rounds on X (previously Twitter), the agitated customers are seen at a constructing the place the corporate is situated, demanding their cash.
In order that Patricia bitcoin man took individuals’s cash and ran away?
Individuals are at their workplaces rn asking for his or her cash and in all places is locked. Omo! pic.twitter.com/aZV70U8niD
— Sabi Radio (@TheSabiRadio) October 18, 2023
Talking with Cointelegraph, Hanu said that the video content material is deceptive and mischievous because the agency runs a completely distant construction. He said that the workplace within the video is an innovation hub arrange and introduced in 2022 to supply free working areas to builders and crypto lovers and that Patricia doesn’t function from that workplace.
When requested in regards to the present resolution for customers who can’t withdraw their funds, Hanu said that the Patricia app is about to be relaunched and is presently in beta testing. He added that invitations have been prolonged to prospects to expertise the app earlier than opening to the general public. Some prospects who opted for the testing course of are getting their Patricia Token (PUTX) redeemed, which is the change’s inner debt administration token.
In keeping with Hanu, Patricia customers have additionally notified prospects of the plan to redeem their balances in batches as quickly because the agency reopens.
This improvement follows the corporate’s earlier disclosure of a safety breach leading to fund losses in Could 2023. Regardless of claiming that buyer funds remained unaffected, platform customers have confronted ongoing difficulties accessing them since April.