BUSINESSMAN ROBBED OF ABOUT E500K BITCOIN

MBABANE - A businessman from Dalriach East, Mbabane, has been robbed of about E500 000 Bitcoin. The businessman, according sources, reported the theft of approximately 0.26 Bitcoin, valued at E485 760.31 after an unknown individual gained unauthorised access into his cryptocurrency account. The incident, which occurred on December 11, 2024, took place while the victim was in Mbabane. This cybercrime was confirmed by the Chief Police Information and Communications Officer, Senior Superintendent Phindile Vilakati and said police are still investigating.

Fraud

It is worth noting that in November 2024, the National Commissioner (NATCOM) of Police, Vusi Manoma Masango, said  E398 799 405.49 in losses were due to fraud in the country.
It was said the banking industry has also been affected by these fraudulent schemes. Nine cases reported by banks resulted in losses exceeding E7 million. Masango said the highest form of trickery was investment fraud, whereby there was a total loss of E231 220 000. He said the second form was commercial fraud, which had over E58 million lost by companies and organisations. Meanwhile, theft of Bitcoin and other forms of cryptocurrency is increasingly becoming a global issue. In the United States, a high-profile cryptocurrency heist in August 2024, resulted in the theft of 4 100 Bitcoins valued at US$230 million (approximately E4.3 billion).

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