Security agencies have succeeded in identifying and arresting the people standing behind a crypto mining application that duped a large number of people and stole their money, the Interior Ministry said on Monday.
The arrests came in the wake of reports by some citizens against the crypto mining application, HOGGPOOL, the ministry added in a statement.
It noted that the people filing the reports were robbed of a combined 19 million Egyptian pounds (about $633,000).
Dozens of people demanded intervention by security agencies during the past few days against the application.
They said they invested their money in it, including by purchasing mining machines.
Nevertheless, the application suddenly disappeared, they said.
The Interior Ministry said 29 people stood behind HOGGPOOL, including 13 foreign nationals.
It added in its statement that these people turned a villa in Cairo into a headquarters for the operations of the application.
At the time of their arrest, the 29 people had 95 cell phones with them, 3,367 cell phone lines, nine computer hardware devices, seven computers and 39 computer screens, the ministry said.
It added that the same people had three cars; foreign currencies; 600,000 Egyptian pounds, and 41 visa cards.
It noted that the suspects confessed to forming a criminal gang with the aim of taking money from people via the internet.
The ministry called, meanwhile, on citizens to avoid buying into such applications and internet platforms.
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