Investigators traced an Asia-based operation funnelling stolen funds via three Egypt-based handlers; seizures were valued at around EGP 8 million.
The Ministry of Interior arrested a criminal network that collaborated with international elements to electronically defraud citizens and drain accounts on the InstaPay application.
Investigations found that international criminal elements based in an Asian country operated a fake application that lured users with the promise of watching encrypted TV channels for free. Once activated, the app hacked the victims’ phones, took control of the devices, and sent texts claiming money had been withdrawn from InstaPay. When victims opened InstaPay to check and entered their secret PIN code, funds were drained and transferred to electronic wallets activated by three individuals inside Egypt.
Authorities arrested the network members inside the…