Pegasus Technology has experienced the most terrible hack of all time from a notorious hacker who entered into the mobile money system.
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This is a digital company that hosts the is the integration of mobile money transactions between telcos, banks, other local, regional, and international money transfer services.
Airtel and MTN Uganda, as well as Stanbic Bank, Uganda’s largest bank that also backs up most of the mobile money transactions, happens to be the most affected firms as they have incurred huge losses.
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In a joint statement released on Monday 5th October 2020, Anne Juuko, Wim Vanhelleputte, and VG Somasekhar, the CEOs of Stanbic Bank Uganda, MTN Uganda, and Airtel Uganda respectively, admitted there was an “incident”, but did not give details.
“Stanbic Bank Uganda, MTN Uganda, and Airtel Uganda inform the public and their customers that on Saturday 3 October 2020, a third-party service provider experienced a system incident which impacted Bank to Mobile Money transactions. All Bank to Mobile Money/Wallet services have since been temporarily suspended,” the trio said.
“This system incident has had no impact on any balances on both Bank and Mobile Money accounts. Our technical teams are analyzing the incident and will restore services as soon as possible. We apologize to all customers for any inconvenience that this has caused and reiterate our commitment to delivering seamless banking and mobile money services,”
All affected institutions have confirmed the effects of the hack but has not revealled the amount involved
