Egypt’s Attorney General orders investigation into online robbery through mining scam HoggPool

CAIRO – 5 March 2023: Egyptian Attorney-General Hamada Al-Sawy, on Saturday, ordered forming a committee of representatives of the Public Prosecution’s economic affairs department and money laundering department to investigate the crime of stealing EGP 19 million from Egyptians through the cloud mining scam HoggPool.

The Egyptian police arrested a criminal network led by foreign elements who stole LE 19 million through the cloud mining scam HoggPool, the Ministry of Interior announced on Saturday.

Police said it arrested 29 people who constitute this criminal network, including 13 foreigners, adding that they used two villas in Cairo as their headquarters to practice their illegal activities.

The HoggPool platform, launched in August 2022, withdrew millions of pounds from hundreds of users in exchange for a daily profit. The platform said it invests in cryptocurrency mining activities.

The platform offered users the possibility to rent so-called “mining machines” starting from LE 200 in order to get a daily profit of around 10 percent.

In order to encourage users to pay more money, HoggPool provided facilitations on paying, including the possibility to pay in Egyptian pounds rather than dollars and at a lower price than that of the official exchange rate.

HoggPool defined itself as an international platform with headquarters abroad and its app on Google Play was downloaded more than 100K times.