Canadian Hacker Indicted for $65 Million DeFi Exploit

Summary: The U.S. Department of Justice has indicted a Canadian man, Andean Medjedovic, for allegedly exploiting vulnerabilities in decentralized finance (DeFi) protocols to fraudulently acquire around million in investor funds. The indictment includes charges of wire fraud, money laundering, and extortion, stemming from actions taken between 2021 and 2023. Medjedovic is accused of manipulating smart contracts and laundering his profits while attempting to extort control of the KyberSwap protocol.

Affected: U.S. Department of Justice, investors of KyberSwap and Indexed Finance DeFi protocols

Keypoints :

  • Indictment comprises five counts, including wire fraud and money laundering.
  • Medjedovic reportedly manipulated smart contracts and engaged in deceptive trading.
  • He attempted to extort control of the KyberSwap protocol through a sham settlement proposal.

Source: https://securityonline.info/canadian-hacker-indicted-for-65-million-defi-exploit/

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