Bonnie &Clyde: Prime suspect arrested in sh1.9b Crypto currency armed robbery, abduction.

Police have arrested Phineous Biira, a prime suspect in the robbery, kidnapping and torture of Festo Ivaibi, the founder of Mitro Plus Labs and Afro Token Project.

A Police source reveals that Biira, a director at Digital Money Limited on Kampala Road, opposite I& M Bank, was nabbed through block chain tracing using both local and international experts.

She is married to a one Martin Orena, with whom they ran Digital Money Limited. They’ve been touted as the Bonnie and Clyde of the Crypto highway.

Phineous’ arrest follows a shocking incident that has rattled Uganda’s burgeoning cryptocurrency community, where Festo Ivaibi, founder of Mitroplus Labs and Afro Token, was abducted on Saturday, May 17, 2025, by armed individuals posing as Uganda People’s Defence Forces (UPDF) operatives.

The attackers, wielding guns and dressed in military uniforms, ambushed Ivaibi near his home along Bunamwaya Road, forcing him to transfer $500,000 (approximately UGX 1.9 billion at current exchange rates) in cryptocurrency from his wallets, including Binance, to their trust wallet.

“We successfully followed the movement of the stolen funds, which led to the gun men’s wallets and her crypto wallet,” one expert says.

At Kajjansi Police station, where she is currently detained, Biira initially resisted arrest and demanded the presence of Maj. Charles Konyang Lepera, a State House worker, who identified himself as a relative.

A Police source, speaking on condition of anonymity, says Biira is still refusing to reveal how she got the funds in her electronic wallet, parties involved and payments made, plus bank and mobile money transactions involved in the case. Instead, she is relying on connections to bail her out of the case.

One such connection., Maj. Charles Konyang has tried to pull his connection strings to little avail so far. ” We commend the Police for the professional, impartial and firm manner in which they are handling the case,” one of the victims said.

They reveal that Phineous Biira has a criminal record of a similar nature in the past.

Her case was presided over by magistrate Romans Ponsiano Odwori in 2021, with CRB no. Jinja Road/ 472/ 2021.

This website understands that in the recent past, close to 50 similar fraudulent cases have been reported but have been dismissed through the influence of Biira snd her clandestine ring.

” Many victims have shared their plight but were thwarted by connections, mainly the men in uniform, which is absurd,” they said.

Biira and her cohorts operate something similar to a Ponzi scheme.

One deposits hard cash, then they put an app on your phone showing only half of the money paid as your account opening balance in US Dollars.

The money then “grows” on your app every week but you can’t
cash it out except through them and after a certain amount of time.

But you can’t cash all of it. They rely on new recruits to pay the old.
In the latest move, they have branched into armed robbery to meet the demand.