The Kenyan bank's cybersecurity breach involved unauthorized virtual cards and complex laundering operations utilizing Tether, prompting an investigation by authorities.
A cyber attack on a Kenyan bank resulted in the theft of 500 million Kenyan shillings (approximately $4 million) by external contractors. They manipulated the card management system to create unauthorized virtual cards linked to mobile wallets, laundering the stolen funds through Tether (USDT) into offshore wallets. The Kenyan Directorate of Criminal Investigations (DCI) has launched an investigation, with arrests expected soon.