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Nigerian Crypto Exchange Patricia Implements Debt Restructuring Using Convertible Notes – What's Going On?
23.10.2023
Patricia, a Nigerian crypto exchange, is embarking on a significant debt restructuring initiative, offering customers the option to convert owed funds into Patricia shares.
The company recently introduced Patricia Tokens (PTK), which it has now made available to customers for this purpose....
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Report: Hacked Nigerian Crypto Exchange Raises Capital for User Reimbursements
1.10.2023
The recently hacked Nigerian gift card and crypto exchange platform Patricia said on Sept. 29 that it had raised money to refund users. Some users have reportedly grown impatient with the crypto exchange and are weighing their legal options. Unilateral Conversion of Users’ Funds The Nigeria...
Nigerian crypto exchange's token launch draws scrutiny
24.8.2023
This development follows the company's previous disclosure of a security breach resulting in fund losses in May 2023
Nigerian Crypto Trading Platform Unilaterally Converts User Funds to New Stablecoin — Move Sparks Exit Scam Fears
23.8.2023
A Nigerian crypto trading platform, Patricia, announced on Aug. 18 that it had converted users’ outstanding funds to its U.S.-backed stablecoin known as “Patricia Token.” Some social media users have slammed the crypto trading platform’s unilateral decision to convert...
Nigerian crypto tax move is ‘premature’ – local stakeholders
7.7.2023
Industry stakeholders seek clarity regarding the implications of taxation and its connection to the recognition of cryptocurrency and associated procedures
Hackers Breach Nigerian Crypto Trading Platform — BTC and Naira Assets Compromised
29.5.2023
The Nigerian gift card and crypto trading platform, Patricia, announced on May 26 that one of its trading applications had been breached and that BTC as well as naira assets were compromised. The crypto exchange platform said it has since suspended withdrawals and is presently “undergoing...
Nigerian crypto company suspends withdrawals after BTC and naira compromise
27.5.2023
Efforts are underway to recover compromised assets and enhance security measures as users express concerns on social media
Nigerian Crypto and Web3 Startup Lazerpay Shuts Down After Failing to ‘Close a Successful Funding Round’
15.4.2023
The Nigerian crypto and Web3 startup Lazerpay announced on April 13 that it will cease operations. Co-founder and CEO Njoku Emmanuel said the decision to cease operations was made after Lazerpay failed to successfully close a funding round. The CEO also said he is ready to listen to offers from...
Nigerian crypto payment startup shuts down, offers IP for sale
14.4.2023
Nigerian crypto and Web3 company Lazerpay shuts down due to the inability to raise funds and advises users to withdraw funds before April 30
Nigerian crypto foreign investment is at a record low: Study
6.4.2023
Foreign direct investment (FDI) in Nigeria fell by 33% last year due to a severe shortage of dollars, which discouraged crypto companies from expanding into the country
Nigerian crypto investors question central bank's decision to flag p2p users
29.3.2023
Crypto P2P users in Nigeria worry over using various platforms to launder funds as the country's central bank cracks down on bank accounts that receive a share of Flutterwave’s rumored stolen funds
Nigerian Crypto Leverage Searches Second-Highest Globally — Africa Dominates Searches for Leveraged Trading Products
5.3.2023
According to an analysis of Google searches by Leverage Trading, Nigeria is the “second-highest country in the world for searches related to crypto leverage.” Along with South Africa and Ghana, the West African nation also dominates searches for the term “trade crypto.”...
Nigerian Crypto Payment Gateway Fluidcoins Acquired by Seychelles-Based Crypto Exchange
18.2.2023
The Nigerian crypto payment gateway Fluidcoins was recently bought for an undisclosed sum by Blockfinex, in a deal which the former’s CEO Lanre Adenowo described as an “acquihire deal.” Blockfinex reportedly said it will leverage the acquisition to launch its own platform known...
Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims
2.2.2023
Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons...
Nigerian crypto exchange Roqqu receives European virtual currency license
12.1.2023
The move allows Roqqu to operate in 30 countries and broaden its services within one of the world's largest crypto markets
Nigerian Crypto Exchange Roqqu Gets European Union Virtual Currency License
4.1.2023
The Nigerian crypto exchange Roqqu recently announced that it obtained a virtual currency license that allows it to offer its services in 28 European countries. According to Israel Ololade, the head of product at Roqqu, the European Union license “aligns with the brand’s drive to become...
Report: AAX Users Storm Crypto Exchange’s Nigerian Offices, Attack Employees
4.12.2022
Nigeria users of the crypto exchange AAX, which suspended withdrawals on Nov. 12, reportedly stormed its offices in Lagos and began assaulting employees. Reports that disgruntled AAX users have harassed the crypto exchange’s workers came just days after the Nigerian crypto and blockchain...
Report: Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20%
28.11.2022
As it reels from the effects of what it termed a global economic downturn, the Nigerian digital asset exchange platform, Quidax, recently said it had laid off employees who constituted 20% of its workforce. Despite the layoffs, Quidax reportedly told its customers it is ‘not going anywhere...
‘Cryptocurrencies Like Bitcoin Make Global Commerce Easy’ — Founder of Nigerian Crypto Exchange
26.11.2022
Despite the Central Bank of Nigeria (CBN)’s Feb. 5, 2021 directive that instructed banks to block crypto entities from the financial system, the demand and use of cryptocurrencies have continued to grow. Not even the central bank’s subsequent crackdown on crypto entities it accused...
Zugacoin Controversy: Supposed Poverty Eradicating Cryptocurrency Criticized as Just Another Complex Nigerian Ponzi Scheme
27.8.2022
After reports that merchants and holders of “Zugacoin” cryptocurrency are unable to make withdrawals, the founder of the Nigerian crypto, Sam Zuga responded by accusing unnamed “ignorant people” of working to tarnish the project. One Nigerian expert has advised...