According to Techbuild, a large bank in Kenya has suffered a serious internal attack, resulting in 500 million Kenyan shillings (approximately $4 million) being stolen by contractors responsible for its IT infrastructure. Insiders said that the gang manipulated the bank's card management system, created unauthorized virtual cards, and associated them with mobile wallets. Since then, stolen funds have been transferred through complex trading networks, including the use of cryptocurrencies, making the funds almost untraceable.
The investigation shows that the stablecoin Tether (USDT) plays a central role in the money laundering process. The funds have been transferred to multiple offshore wallets, making the recovery process more complex. The Kenyan Criminal Investigation Agency (DCI) has launched a formal investigation into the 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 it is expected that the individuals involved will be arrested soon.
