According to Foresight News and Bitcoin.com News, Festo Ivaibi, founder of the blockchain and crypto education institution Mitroplus Labs in Uganda, was kidnapped by armed criminals on May 17 and forced to transfer crypto assets worth $500,000. The criminals disguised themselves as Ugandan security personnel and abducted him near his residence to the Bunamwaya area in the southern part of the capital Kampala. After forcing him to transfer funds to their Trust wallet, they released him. Mitroplus Labs stated that this incident did not affect the safety of community funds.
The founder of Mitroplus Labs said that 48 cases have been reported in Africa so far, with 7 of them related to the same criminal group. He noted that these cases have not received much attention mainly because Uganda has not officially recognized cryptocurrencies.
