Kenyan Police Arrest Mildred Kache in $431K USDT Fake Gold Scam

Kenyan police have arrested Mildred Kache as the alleged mastermind behind a fake-gold fraud that stole 431,380 USDT from a U.S. investor. The scheme promised delivery of 400 kilograms of gold that was never supplied, highlighting ongoing misuse of stablecoin rails for cross-border scams. Authorities are now tracing the funds on-chain and seeking exchange cooperation to freeze assets while an accomplice remains at large. The arrest, made in Kilimani, Nairobi, comes as Kenya advances its first crypto legislation and may intensify calls for stronger KYC/AML rules on digital-asset commodity deals.