Ugandan Crypto Founder Abducted and Forced to Send $500K
- Security
- Wallet/Key Compromise
Founder Ivaibi Festo was abducted by individuals posing as security agents on May 17 2025. Attackers held him at gunpoint and compelled transfer of crypto assets worth $500000. The incident highlighted physical security risks for crypto operators in emerging markets.
Incident Details
- Type
- WALLET/KEY COMPROMISE
- Funds Lost
- $500K
- Status
- Ongoing
Funds transferred under duress