Kenyan Law Enforcement Agency Arrests Two Students Accused of Using Stolen Funds to Buy BTC

Two Kenyan college students accused of hacking bank cards and utilizing the ill-gotten funds to purchase bitcoin have been arrested by the Directorate of Criminal Investigations, a press release from the regulation enforcement company has mentioned. After changing the cryptocurrency to native foreign money, the 2 college students would use the fraudulently acquired funds to maintain their lavish life-style.

The Students’ Lavish Lifestyle

A Kenyan regulation enforcement company, the Directorate of Criminal Investigations (DCI) mentioned it has arrested two college college students it accuses of hacking bank cards and utilizing these to “buy bitcoins and convert them to Kenyan foreign money.” In a press release, the company mentioned the so-called infamous gang of two was nabbed in Milimani, an prosperous neighborhood in Kenya’s fourth-largest metropolis, Nakuru.

In a Twitter thread explaining how the offense was carried out, the DCI revealed that the 2 — Francis Maina Wambui aka Nick, 26, and Zellic Alusa, 25 — had resorted to a rising prison apply. The company defined:

The college students create pretend e mail accounts which they use to hack bank cards of harmless individuals, particularly these residing in overseas international locations and use them to purchase bitcoins.

According to the DCI, the 2 college students would then use the stolen funds to maintain their lavish life-style. The college students additionally reportedly used the stolen cash to entertain girls and purchase properties. Following the raid on an residence the place the duo was working, the DCI mentioned among the many paperwork recovered was “a land sale settlement entered on May, 25, for a property valued at Sh 850,000 [$7,240] in Juja.”

Strengthening of Cyber and Digital Forensic Lab

The assertion added that the opposite gadgets which had been recovered embody 5 laptops, 4 cellphones, two wifi devices, three onerous drives, and SIM playing cards.

Meanwhile, the DCI’s announcement of the arrest has come just some days after Kenyan President Uhuru Kenyatta called for the “strengthening of the Cyber and Digital forensic lab to cope with modern crimes that contain misuse of know-how.”

The announcement of the arrests additionally got here after native media stories warned that Kenyans could have misplaced funds to a different crypto Ponzi outfit.

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