In brief
- Mitroplus Labs founder Festo Ivaibi was abducted near his home on May 17 and forced to transfer crypto worth roughly half a million dollars.
- The firm claims over 48 similar crypto-related attacks have occurred in Uganda, though most remain unreported.
- Experts urge better coordination between physical safety protocols and digital asset protections.
A crypto founder was abducted in Uganda, held at gunpoint, and forced to send crypto worth $500,000 to his attackers, in the latest of a spate of crypto kidnap attempts.
Festo Ivaibi, founder of crypto education hub Mitroplus Labs, was abducted on May 17 near his residence on Bunamwaya Road in Kampala, Uganda.
The attackers were reportedly armed, dressed in military uniforms, and…
May 21 2025
