The news
- Patricia has appointed DLM Trust to begin customer repayments in November
- The Lithuania-based crypto exchange stopped customer withdrawals for five months after it announced a security breach in May.
- It has recently pleaded with customers to turn their owed balance into equity within the company.
Patricia has appointed DLM Capital Group to begin the first batch of repayments to Patricia customers after it announced it was hacked in May 2023.
Per the statement, released on Nairametrics, DLM Trust and Patricia have entered a partnership agreement that will "ensure a seamless and secure process for the return of deposits to Patricia Technologies Limited’s valued customers."
It also revealed that the first batch of repayments will begin on November 20, 2023.
Per DLM Capital Group's X (formerly Twitter) bio, it is a "Developmental Investment Bank that supports economic and social infrastructure projects with the aim of driving GDP growth and impacting everyday lives."
The firm provides investment banking services through "via its subsidiaries who provide corporate finance advisory, trustee, asset management, nominees, microfinance and securities trading services to sovereign/sub-sovereign entities as well as private & non-private corporations and non-government institutions."
The firm also disclosed on its Linkedin page that is a holding company with seven subsidiaries that are licenced by the Nigerian Securities Exchange Commission (SEC) and the Central Bank of Nigeria.
According to TechCabal, Kehinde Lawal, Senior Associate at the firm said “The funds are coming from Patricia and its partners/investors. We are acting as a trustee [and] making sure that we pay the customers as at when due. Payment plan and disbursement strategies will be made available to the users in the coming days.”Meanwhile, customers have continued to express their displeasure as they're unable to withdraw funds from the exchange.
