The country of South Africa has become the latest target for cybercriminals in an online fraud spree that began with the theft of over 50,000 cryptocurrency tokens.
The theft of these tokens, along with other coins from several other exchanges, has left the South African Government unable to pay out money to its citizens, according to South African police.
The country’s central bank said the theft was part of a massive fraud and said it is currently working with the authorities.
The South African Ministry of Finance has also warned that cybercrimbers are trying to target the country’s financial systems.
The thefts occurred during a period of heightened activity by cybercrimbing gangs, according the South Africa Securities Authority (SASA).
It is not known how much money was stolen, but authorities believe it was in the region of $1.5 million.
South African authorities are investigating the theft and have deployed the countrys most powerful cybercrime unit to deal with the cybercrime wave.
The RSAA, along to the RSAA of South African National Police, has deployed a cyber-detection unit to conduct an extensive security assessment of its countrys financial system and to help South African banks and financial institutions identify and prevent cyber-attacks.
The cybercrime spree started with the release of fake cryptocurrency tokens to increase their value.
A number of these fake cryptocurrencies were stolen from exchange sites.
In a statement, the South Australian government said the fake coins are not backed by the country, but are part of an ongoing scheme to make money out of the value of the tokens.
According to the South Korean Central Bank, the theft happened around the same time as South African currency was devaluing, which prompted a rush of virtual currency exchanges to sell fake tokens.
It is unclear how much of the stolen cryptocurrency is being sold to South Korean citizens.
However, a South Korean cryptocurrency exchange site reported that the value and supply of the fake tokens increased dramatically in the aftermath of the South Korea’s devaluation.
South Korean authorities have not confirmed how much was stolen from the exchange site, but the South Koreans Central Bank is reportedly tracking down the thieves and has warned of “serious repercussions.”
The South Korean government said it has no immediate plans to halt trading in the fake cryptocurrency, which may have been sold to other people.
However it said it will be investigating the situation.
South Korea is one of the world’s top countries in terms of cybercrime, according a recent study by Kaspersky Lab.
South Africa is also a member of the International Monetary Fund’s Cybercrime Task Force.
It has set up a national cybercrime task force to investigate the theft.
However many cybercrimbs in South Korea are targeting other countries, such as the United States, China and the UK, in order to launder stolen funds.
South Africans have been the victims of online crime in the past.
In 2016, more than 500 South African citizens were arrested on charges of cyberstalking, according TOEFL, an international exam board.
The perpetrators were targeting South Africans on social media.
A South African cybercriminal in his mid-20s stole about $1 million from South Africa and was arrested on a U.S. warrant.
He was extradited to South Korea, where he was sentenced to 15 years in prison and given three years’ supervised release.