Crypto Abduction Threat Hits Africa

Crypto Abduction Threat Spreads to Africa; Ugandan Founder Targeted

• Festo Ivaibi, founder of Mitroplus Labs, was abducted by armed criminals.
• The incident occurred on May 17.
• The criminals posed as law enforcement officers.
• A ransom of $500,000 was demanded.
• Access to the founder’s cryptocurrency wallets was also requested.

On May 17, Festo Ivaibi, the founder of Mitroplus Labs in Uganda, was abducted by individuals impersonating law enforcement. The kidnappers demanded $500,000 and access to his cryptocurrency wallets.