Addis Abeba – The state-owned Commercial Bank of Ethiopia (CBE) said it has been a primary target of entities seeking to attack Ethiopia for economic and political reasons. It reported successfully foiling nearly 28,000 cyber-attack attempts since 2022.

Nonetheless, the bank said the recent incident, which led to customers withdrawing large amounts of cash from the bank’s ATMs and digitally transferring millions, was caused by an internal “system glitch” rather than a cyber-attack.