Kenyan Law Enforcement Agency Arrests Two Students Accused of Using Stolen Funds to Buy BTC – The Directorate of Criminal Investigations (DCI), a Kenyan law enforcement body, announced the arrest of two university students it accuses of hacking credit cards and using them to “buy bitcoins and convert them to Kenyan currency.”
The so-called notorious gang of two was apprehended in Milimani, an affluent area in Kenya’s fourth-largest city, Nakuru, according to the agency. The DCI disclosed that the two — Francis Maina Wambui aka Nick, 26, and Zellic Alusa, 25, — had resorted to a rising criminal practice in a Twitter thread outlining how the act was carried out.
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According to the agency:
“The students construct phony email accounts that they use to steal credit cards from unsuspecting individuals, particularly those in foreign countries, and use them to purchase bitcoins.”
The two students would then utilize the stolen funds to maintain their extravagant lifestyle, according to the DCI. The students allegedly used the stolen funds to entertain women and purchase properties. The DCI stated one of the documents discovered during the raid on the duo’s apartment was “a land sale agreement entered on May 25, for a property valued at Sh 850,000 ($7,240) in Juja.”
Other things retrieved include five laptops, four mobile phones, two wifi devices, three hard drives, as well as SIM cards, according to the statement.
Meanwhile, the arrest announcement comes just days after Kenyan President Uhuru Kenyatta called for the “strengthening of the Cyber and Digital Forensic Lab to deal with current crimes involving technological exploitation.”
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Kenyan Law Enforcement Agency Arrests Two Students Accused of Using Stolen Funds to Buy BTC – The arrests were made after local media reports claimed that Kenyans may have lost money to another cryptocurrency Ponzi scheme.