KyberSwap and Listed Finance Hacker Charged

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• A Canadian national has been charged with wire fraud, laptop hacking, and tried extortion linked to the theft of roughly $65 million in cryptocurrency
• Andean Medjedovic allegedly exploited vulnerabilities within the KyberSwap and Listed Finance decentralized finance protocols
• Medjedovic is accused of laundering the stolen funds and is on the second at monumental

A federal mountainous jury in Brooklyn has indicted Andean Medjedovic, a Canadian citizen, for allegedly orchestrating a $65 million cryptocurrency theft. Prosecutors explain that Medjedovic exploited safety flaws in two decentralized finance (DeFi) platforms, Kyberswap and Listed Finance, to siphon off approximately $65 million. He faces more than one prices, alongside side wire fraud, laptop hacking, tried extortion, and money laundering, despite the indisputable truth that he stays at monumental.

Top private investigator: Medjedovic Centered DeFi Platforms

Per the indictment, Medjedovic focused KyberSwap and Listed Finance, two DeFi platforms that facilitate cryptocurrency transactions without worn banks, after allegedly discovering weaknesses of their neat contracts. He took advantage of these weaknesses in November 2023, withdrawing big sums of cryptocurrency from unsuspecting investors, totalling some $65 million.  He later demanded management of the Kyberswap protocol, which used to be denied him.

“Andean Medjedovic’s alleged actions highlight the vulnerabilities in decentralized finance and the severe penalties of exploiting them,” U.S. Attorney Breon Peace acknowledged in an announcement. “We stay dedicated to preserving cybercriminals guilty, no subject the place they operate.”

Top private investigator: Extortion and Money Laundering Accusations

Beyond the initial theft, prosecutors dispute Medjedovic tried to extort extra funds from the affected platforms. The indictment alleges that after executing the hacks, he demanded payment in change for no longer launching further assaults or publicly exposing the vulnerabilities. He is moreover accused of laundering the stolen sources thru a series of transactions designed to imprecise the origins of the funds.  

“This used to be a subtle fraud that exploited vulnerabilities in ‘neat contracts’, ensuing within the theft of millions of bucks in cryptocurrency,” acknowledged Interior Earnings Service Prison Investigation (IRS-CI) Contemporary York Special Agent in Cost Chavis. Medjedovic stays at monumental as authorities proceed efforts to locate him following the mountainous jury indictments.