Kenyan Detectives Nab Students Hacking Credit Cards to Buy Bitcoin

In the sophisticated crime that is gaining currency in the country, the students create fake email accounts which they use to hack credit cards of innocent persons, especially those living in foreign countries, and use them to buy bitcoins that are then converted to Kenyan currency (KES).

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A notorious gang, which has been hacking people’s credit cards before using them to purchase bitcoins and convert them to Kenyan currency, has been arrested by detectives from the Directorate of Criminal Investigations (DCI) in Nakuru, the 4th largest City in kenya.

According to DCI, the gang of 2 university students was operating from houses in an affluent neighborhood of Nakuru, and was arrested during the raid while in the company of two young ladies at an apartment.

In the sophisticated crime that is gaining currency in the country, the students create fake email accounts which they use to hack credit cards of innocent persons, especially those living in foreign countries, and use them to buy bitcoins that are then converted to Kenyan currency (KES).

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SEE ALSO: Binance Enabled $2.35 Billion in Money Laundering and Illegal Activity, a Reuters Investigation Reveals

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According to the DCI:

“They then use the money to live lavishly, entertain young women and buy properties. Among the documents recovered in the house was a land sale agreement entered on May, 25, for a property valued at Sh 850,000 in Juja.”

– Directorate of Criminial Investigation (DCI) Kenya

It is only a few days since Kenya’s top investigations body opened a humongous forensics lab, part of whose duty would be to fast-track investigations into cyber-crimes, with the Kenya President noting the rising cases of crypto fraud.

In the latest scam, Kenyans have lost over $8.5 million in a ponzi scheme dubbed BitStream Circle. In this scheme, investors would be given a mentor, who would send signals on when to trade and how to earn a profit, from daily investments.

Among the items recovered from the raid were 5 laptops, 4 mobile phones, 2 WiFi gadgets, 3 hard drives, and assorted SIM cards. Cyber forensic experts have since taken over investigations into the matter for a comprehensive analysis into the sophisticated crime.

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RECOMMENDED READING: Kenyans Lose $8.5 Million to The BitStream Circle Crypto Ponzi Scheme

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