PANews July 13 news, according to Techbuild, a large bank in Kenya suffered a serious internal attack, resulting in 500 million Kenyan shillings (approximately 4 million USD) being embezzled by a contractor responsible for its IT infrastructure. Insiders indicate that the gang manipulated the bank's card management system to create unauthorized virtual cards and linked them to mobile wallets. Since then, the stolen funds have been transferred through a complex network of transactions, including the use of cryptocurrency, making the funds nearly untraceable.
Investigation shows that the stablecoin Tether (USDT) played a key role in the money laundering process. Funds were transferred to multiple offshore wallets, complicating recovery efforts. The Kenyan Directorate of Criminal Investigations (DCI) has launched a formal investigation into this data breach incident and is working with the bank's internal cybersecurity team to determine the specific implementation process of the attack. Officials stated that arrests of those involved are expected soon.