Uganda's Central Bank Hit by $16.8 Million Hack, Investigation Launched into Possible Insider Involvement

The central bank of Uganda has confirmed a significant hack. A large amount of money has been drained from the country's official bank accounts.

According to the Bank of Uganda, police are starting an investigation into the theft of 62 billion Ugandan shillings. That’s about $16.8 million, as reported by Reuters.

The hacking group called "Waste" claims responsibility for this breach. This information comes from the state-owned news outlet, Vision.

Henry Musasizi, the state minister of finance, commented on the situation. He said some initial reports are exaggerated. “It’s true our accounts were hacked, but not to the extent being reported,” he stated. “When this happened, we launched an audit and an investigation.”

As the investigation gets underway, Vision reports that some of the stolen money may have been sent to Japan. Interestingly, half of the stolen funds have already been recovered.

Additionally, the Daily Monitor, Uganda's largest independent newspaper, suggests that this breach might have involved someone from inside the bank. Early indications point in that direction.