The first time CBK came out strongly against the trade of cryptocurrency was in December 2015 when the Bitcoin craze was just beginning to catch in Kenya.
Two Kenyatta University students have been detained by detectives on suspicion of being part of a group that used stolen credit cards to buy bitcoins, which they then exchanged for Kenyan currency.
The two were apprehended alongside two other young women on Wednesday during a raid at the apartment they had been using as their base of operations in Nakuru’s affluent Milimani neighborhood.
The Directorate of Criminal Investigations (DCI) asserts that two converted the money and used it to acquire real estate, live opulent lives, and entertain young ladies.
It was only a matter of time before our detectives caught the gang operating out of homes in the wealthy Milimani neighborhood, according to DCI, who released a statement.
Students construct phony email accounts to hack credit cards of innocent people, particularly those who reside abroad, in the sophisticated crime that is becoming more and more popular in the nation.
A land sale agreement signed on May 25 for a property in Juja valued at Sh850,000 was among the items seized during the operation.
Additional things found were five laptops, four mobile phones, two Wi-Fi devices, three hard drives, and a variety of SIM cards, all of which were thought to be the criminals’ tools of the trade.
For a thorough investigation into the sophisticated crime, “cyber forensic professionals have since taken over inquiries into the subject.
The DCI noted that cyber forensic professionals have since taken over inquiries into the subject.
The two will continue to be held by police until they are charged.
Not only have Kenyan investors become interested in the craze around cryptocurrency trading, but con artists have also developed get-rich-quick Ponzi scams that pass for cryptocurrency trading platforms. Massive losses have occurred.
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