IP addresses worth more than $54,000,000 were compromised by an insider at The African Network Information Centre (AFRINIC). The resources were stolen and put up for sale on the black market.

The fraud was discovered only after five months of investigation conducted by Ron Guilmette.

The Regional Internet Registry for Africa and the Indian Ocean region is in charge of assigning IP address blocks and controlling the assignment within the limits of the service region.

The investigation confirmed that the organisation’s public database of IP block assignments was wronged by at least one employee.

The internal researching process is ongoing and the incident is yet to be acknowledged.