USDT Used to Launder $4 Million in Kenyan Bank Heist, Report Says
2025-07-12 21:48:46
Main Idea
A Kenyan bank experienced an internal breach where $4 million was stolen by contractors, with USDT allegedly used to launder the funds; investigations are underway.
Key Points
1. About $4 million (KES 500 million) was stolen from a major Kenyan bank by contractors involved in its IT systems.
2. The Directorate of Criminal Investigations (DCI) is collaborating with the bank’s cybersecurity team to investigate the breach.
3. USDT (Tether) was reportedly used to launder the stolen funds.
4. The incident highlights concerns over digital banking security and governance in Kenya.
Description
A major Kenyan bank is facing a significant internal breach, with about $4 million (KES 500 million) stolen by contractors involved in its IT infrastructure. Investigations indicate that USDT was central to the laundering process, with funds transferred to multiple offshore wallets, complicating recovery efforts. The Directorate of Criminal Investigations (DCI) has launched an investigation
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