Asian hackers allegedly steal $16.8M from Uganda’s Central Bank

Offshore hackers known as “Waste” have stolen 62 billion Ugandan shillings (approximately $16.8 million) from Uganda’s central bank by breaching its IT systems earlier in November 2024. The funds were reportedly transferred to multiple locations, including Japan, and over half of the amount has been recovered, according to Uganda’s state-owned New Vision newspaper. President Yoweri Museveni has launched an investigation into the cyber theft, which may have involved insider collusion, as reported by the Daily Monitor. Uganda has faced recurring cyber thefts in financial institutions, with banks often hesitant to disclose such breaches due to concerns about customer confidence.