Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

Hackers Steal $17M from Bank of Uganda

November 29, 2024
Reading Time: 2 mins read
in Incidents
Hackers Steal $17M from Bank of Uganda

A significant cyber theft has rocked Uganda’s central bank, with offshore hackers stealing 62 billion Ugandan shillings (approximately $16.8 million) from the Bank of Uganda. The hacking group, known as “Waste,” allegedly breached the bank’s IT systems earlier this month, transferring part of the stolen funds to Japan. This breach marks another troubling chapter in the growing wave of cybercrime across Africa, where banks and financial service providers, including telecom firms, are frequent targets. The attack has prompted an investigation led by President Yoweri Museveni, who has vowed to uncover the perpetrators.

While the hackers successfully siphoned off a substantial amount of money, the Bank of Uganda has managed to recover more than half of the stolen funds. However, concerns remain regarding potential internal involvement in the breach. A report by the Daily Monitor suggested the possibility of insider collusion, highlighting the complexity of the attack. The authorities have not ruled out this possibility, which adds another layer of intrigue to the unfolding investigation.

Cybercrime is a growing concern in Uganda and the broader African continent, with cyberattacks becoming increasingly sophisticated. Uganda has previously faced financial losses due to cyber incidents, and the country is not alone in its vulnerability. In recent years, African nations have reported billions in losses, with countries like Nigeria and Kenya bearing the brunt of these attacks. Cybercriminals often exploit weak cybersecurity measures and lax regulatory frameworks, making it easier for them to infiltrate institutions with valuable financial data.

The incident at the Bank of Uganda serves as a stark reminder of the rising threat of cyberattacks in the region, particularly as Africa undergoes rapid digital transformation. The continent’s cybersecurity challenges are compounded by a lack of robust frameworks to combat cybercrime effectively. As Uganda and other African countries work to bolster their cybersecurity infrastructure, the financial and reputational toll of these attacks continues to grow, making it imperative for governments and institutions to prioritize cybersecurity and establish stronger defenses.

Reference:

  • Offshore Hackers Steal $17 Million from Bank of Uganda in Major Cyber Heist
Tags: AfricaBank of UgandaCentral Bankcyber incidentsCyber Incidents 2024Cyber threatsFinancialNovember 2024Stolen fundsUganda
ADVERTISEMENT

Related Posts

Avantic Lab Affected By Ransomware

Avantic Lab Affected By Ransomware

July 11, 2025
Avantic Lab Affected By Ransomware

Microsoft’s Outlook Long Outage

July 11, 2025
Avantic Lab Affected By Ransomware

$40M+ Stolen from GMX Crypto Platform

July 11, 2025
Nippon Steel Solutions Data Breach

Bitcoin Depot Breach Exposes Data

July 10, 2025
Nippon Steel Solutions Data Breach

McDonald’s AI Hiring Bot Exposes Data

July 10, 2025
Nippon Steel Solutions Data Breach

Nippon Steel Solutions Data Breach

July 10, 2025

Latest Alerts

Fake Sites Push Investment Scams

Fake Firms Push Malware on Crypto Users

Severe WordPress Flaw 200K Sites at Risk

RondoDox Botnet Exploits Router Flaws

ServiceNow Data Exposure via ACLs

Hackers Revive SEO Poisoning

Subscribe to our newsletter

    Latest Incidents

    Microsoft’s Outlook Long Outage

    Avantic Lab Affected By Ransomware

    $40M+ Stolen from GMX Crypto Platform

    Bitcoin Depot Breach Exposes Data

    McDonald’s AI Hiring Bot Exposes Data

    Nippon Steel Solutions Data Breach

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial