Uganda’s central bank just confirmed rumors of a hack, revealing a trove of cash has been drained from the nation’s official bank accounts.

The Bank of Uganda says police are launching an investigation into the theft of 62 billion Ugandan shillings, worth $16.8 million, reports Reuters.

The hacking group “Waste” claims it’s responsible for the breach, according to the state-owned news outlet Vision.

State minister of finance, Henry Musasizi, says some initial reports on the hack are overblown.

“It is true our accounts were hacked into but not to the extent of what is being reported.

When this happened, we instituted an audit and at the same time, and investigation.”

As the investigation kicks off, Vision says unnamed sources at the bank say some of the money has been sent to Japan, and half of the money that was taken has been successfully recovered.

Meanwhile, the Daily Monitor, which is the largest independent newspaper in the country, says early indications suggest the breach may have been at least partially an inside job.

 

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The post $16,800,000 Drained From Official Bank Accounts As Uganda Central Bank Hacked: Report appeared first on The Daily Hodl.

Uganda’s central bank just confirmed rumors of a hack, revealing a trove of cash has been drained from the nation’s official bank accounts.

The Bank of Uganda says police are launching an investigation into the theft of 62 billion Ugandan shillings, worth $16.8 million, reports Reuters.

The hacking group “Waste” claims it’s responsible for the breach, according to the state-owned news outlet Vision.

State minister of finance, Henry Musasizi, says some initial reports on the hack are overblown.

“It is true our accounts were hacked into but not to the extent of what is being reported.

When this happened, we instituted an audit and at the same time, and investigation.”

As the investigation kicks off, Vision says unnamed sources at the bank say some of the money has been sent to Japan, and half of the money that was taken has been successfully recovered.

Meanwhile, the Daily Monitor, which is the largest independent newspaper in the country, says early indications suggest the breach may have been at least partially an inside job.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $16,800,000 Drained From Official Bank Accounts As Uganda Central Bank Hacked: Report appeared first on The Daily Hodl.