{"id":148768,"date":"2025-02-06T10:00:28","date_gmt":"2025-02-06T08:00:28","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=148768"},"modified":"2025-02-05T18:42:04","modified_gmt":"2025-02-05T16:42:04","slug":"canadian-hacker-faces-charges-for-48-8-million-crypto-heist","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/canadian-hacker-faces-charges-for-48-8-million-crypto-heist\/","title":{"rendered":"Canadian Hacker Faces Charges for $48.8 Million Crypto Heist"},"content":{"rendered":"<p>The U.S. Attorney\u2019s Office for the Eastern District of New York <strong><a href=\"https:\/\/www.justice.gov\/usao-edny\/pr\/canadian-national-charged-stealing-approximately-65-million-cryptocurrency-two-defi\">claims<\/a><\/strong> that Medjedovic took advantage of weaknesses in KyberSwap\u2019s code back in 2023.<\/p>\n<p>Medjedovic is said to have manipulated the protocol\u2019s liquidity pools (LPs) by borrowing vast sums of cryptocurrency, inflating prices artificially.<\/p>\n<p>This led to a &#8220;glitch&#8221; in KyberSwap\u2019s automated market maker (AMM), which allowed him to drain $48.8 million from 77 LPs spread across six public blockchains.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/cardano-and-ripple-partnership-in-the-works-hoskinson-teases-major-developments\/\" title=\"Cardano and Ripple Partnership in the Works? Hoskinson Teases Major Developments\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/cardano-14-1-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Cardano and Ripple Partnership in the Works? Hoskinson Teases Major Developments<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The hacker then allegedly attempted to blackmail KyberSwap\u2019s developers, demanding control over the protocol and its decentralized autonomous organization (DAO) in exchange for half of the stolen assets. Medjedovic is also accused of laundering the stolen funds through various methods, including digital asset mixers and bridge protocols.<\/p>\n<p>The indictment also references a previous hack in 2021, in which Medjedovic allegedly exploited Indexed Finance, siphoning off $16.5 million. He faces charges of wire fraud, computer hacking, and attempted extortion, as revealed in a Brooklyn federal court filing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A 22-year-old Canadian hacker, Andean Medjedovic, is currently on the run after allegedly exploiting a flaw in KyberSwap, a decentralized finance (DeFi) protocol, to steal $48.8 million in cryptocurrency, according to a recent indictment.<\/p>\n","protected":false},"author":9,"featured_media":2268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-148768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canadian Hacker Faces Charges for 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