Fejiro Hanu Agbodje Patricia CEO on the run after customers reportedly lose over $2Million

Fejiro Hanu Agbodje, the Chief Executive Officer (CEO) of Patricia Crypto Company, is currently on the run following what has been perceived by many as a theft in which consumers lost a staggering amount of over two million dollars.

According to Platinum Times, Fejiro Hanu Agbodje oversaw Patricia Crypto, which reportedly first suspended withdrawals for platform customers after alleging a breach that cost the company an undisclosed sum of money, per its initial statement.

Patricia reluctantly submitted to criticism and acknowledged that the retail cryptocurrency trading platform of the company had been corrupted. This is after it originally disregarded the report, seemingly in a desperate attempt to allay the fears of many of its clients.

Although it appeared that cybercriminals—or “Yahoo boys,” as they are known in Nigeria—stole more than $2 million from Patricia Crypto’s retail trading platform, some insiders who spoke exclusively to Platinum Times strongly believe that Fejiro Hanu Agbodje should be held accountable because it was an insider job.

Following the hack, Patricia informed clients that it had lost an undisclosed amount and that its Bitcoin and naira assets had been compromised. It omitted to disclose the exact date of the incident, but TechCabal reported that it occurred in January 2022 and cost the business $2 million.

As of the time this story was filed, Patricia had once more announced that as a result of the platform attack, the business had chosen to convert all presently held bitcoin and naira balances to its token.

This invariably indicates that Patricia, a retail trading platform, has changed its users’ BTC and other tokens into the Patricia Token (PTK) token.

Patricia Plus, a cryptocurrency startup, announced the launch of a new app on Friday and characterized PTK as a stablecoin pegged to the dollar, with 1PTK being worth $1. However, the main concern Patricia’s clients have is whether they would actually have access to their money.

Patricia suspended withdrawals for platform customers in May after disclosing that it had experienced a hack.

What a Professional Said About Patricia Plus’s Return

Ironically, the April introduction of the Patricia Plus app resulted in activity that nearly resembled a bank run. The new software did not have the withdrawal limits that the old app did, and many users immediately tried to shift their monies. The retail trading software lacked the quick liquidity to address such requests, similar to most bank runs.

Since April 2023, many customers have been unable to access their money; the choice to convert consumer assets to the business’ stablecoin is an effort to address this issue. However, the action creates a lot of concerns, and it is unlikely that this will allow clients to retrieve their funds.
According to a crypto specialist who requested anonymity and went by the X handle @samlogic_, “Their money will be a useless token printed out of thin air. I believe the money is long since vanished because Patricia, like FTX, plundered consumer assets.

Patricia was the victim of a breach because it failed to protect its customers’ funds, which is a centralized exchange’s principal responsibility. As a result, it will now be difficult for Patricia to recover its customers’ assets. Its solution to that issue is to unilaterally convert the assets of its customers to stablecoins, which raises ethical and legal concerns.

Customers that instantly gain access to Patricia tokens will probably try to sell the assets as soon as possible in order to get their money back. The stablecoin might depeg as a result of that market craze, bringing clients back to where they were before. Patricia was contacted by TechCabal for comments, but none were received as of the time of this post.

On the Run: Fejiro Hanu Agbodje

The founder of Patricia is presently rumored to be missing. This comes after a picture he released in October 2022 that showed an entrance to the United States of America reappeared. Investigative reporter David Hundeyin was intrigued by the image, and his response suggested that the purported Crypto expert is currently on the run.

More details shortly..