Egyptian Authorities Bust Cybercrime Gang Behind ‘QF’ App

Egyptian authorities have successfully arrested members of a cybercrime gang operating under the guise of the ‘QF’ app. The app’s creators were accused of defrauding victims through online schemes, promising unrealistic returns on investments. The arrests were carried out jointly by cybersecurity units in Alexandria and Tanta, following investigations into reports of financial losses exceeding 50 million Egyptian pounds. The suspects were apprehended in Alexandria and transported to Tanta, where they are facing legal proceedings. Victims of the scam have filed complaints alleging that the creators of the ‘QF’ app used online games and currency exchange tactics to entice investments, ultimately siphoning funds through various methods including bank transfers and mobile payment platforms. The case underscores the growing threat of cybercrime, highlighting the need for vigilance and swift action by law enforcement agencies in combating such illicit activities.