Following the launch of Patricia token (PTK) issued to clients to manage users' debt by Patricia, a Nigerian cryptocurrency exchange, the exchange's chief executive officer (CEO), Fejiro Hanu, has confirmed that clients now have the option to convert owed funds into shares of Patricia.
According to a statement from the CEO, this process forms an integral component of the company's strategy to raise funds and reorganize its debts. In anticipation of the company's upcoming app relaunch and in preparation for its fundraising initiative, it is offering its users the opportunity to transform their debt tokens into convertible notes at a favorable discount on Patricia.
He also revealed that these shares will be managed by a trusted third-party trustee authorized by the Stock Exchange Commission (SEC) to ensure full transparency.
However, this option does not seem to please some agitated users who went to a medium affiliated with Patricia to make their case heard, but did not meet anyone. in a video doing During the rounds on the social platform
So that Patricia Bitcoin guy took people's money and ran away?
People are in their offices asking for their money and everything is closed. Omo! pic.twitter.com/aZV70U8niD
โSabiRadio (@TheSabiRadio) October 18, 2023
Speaking to Cointelegraph, Hanu claimed that the content of the video is misleading and mischievous as the company runs a completely remote structure. He stated that the office in the video is an innovation center created and announced in 2022, to offer free workspaces to developers and cryptocurrency enthusiasts, as Patricia does not actively operate from that office.
When asked about the current solution for users who are not yet able to withdraw their funds, Hanu stated that the Patricia app that is about to be relaunched is currently in Beta testing and invitations have been extended to customers to try the app. before opening it to the public. Currently, few customers who opted for the trial process are redeeming their PUTX.
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According to Hanu, Patricia users have also notified customers about the plan to redeem their balances in batches as soon as the company reopens.
This development follows the company's previous one. divulgation of a security breach that resulted in loss of funds in May 2023. Despite claiming that customer funds were not affected, users of the platform have faced continued difficulties accessing their funds since April.
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