A large bank in Kenya suffered an internal attack and lost about $4 million. USDT was used for money laundering.

PANews reported on July 13 that Techbuild reported that a large bank in Kenya suffered a serious internal attack, resulting in 500 million Kenyan shillings (about 4 million US dollars) being stolen by the contractor responsible for its IT infrastructure. People familiar with the matter said that the gang manipulated the bank's card management system, created unauthorized virtual cards and linked them to mobile wallets. Since then, the stolen funds have been transferred through a complex transaction network, including the use of cryptocurrencies, which makes the funds almost impossible to track.

The investigation revealed that the stablecoin Tether (USDT) played a central role in the money laundering process. The funds were moved to multiple offshore wallets, complicating the recovery efforts. The Kenyan Directorate of Criminal Investigation (DCI) has launched a formal investigation into the data breach and is working with the bank's internal cybersecurity team to determine how the attack was carried out. Officials said arrests are expected soon.